All Forum Posts by: Mashy Green

Dear BP community,

I am about to buy an one-family REO house which I am planning on fixing and renting it out.

I will be hiring a contractor. The total cost (labor and materials) should not be more than $30K.

Do i need a construction contract? What should be the most important parts of the contract? How practically speaking that contract could help me?

Thank you all in advance, 

Mashy

 wow, thank you so much!!!!

i just have few questions: what do you mean by "sewer expense" ? does the tenant pays all the utilities?

also, how did you calculate 5% for vacancy, repairs and capital expenses ?

once again thank you!!!

Dear BP community,

I am currently looking at a particular property. It's single family, section 8 tenant occupied home.

the selling price is $100k, the monthly rent is $1300 (80% paid by section 8 HUD )

RE taxes $1400/year. Insurance $1200/year. management fees 10%/month.

I am planning on taking a conventional mortgage 25% down, 4.5% interest rate.

how does this deal look for you? Any input would be highly appreciated.

Also, generally speaking what are the cons and pros for turn-key purchase ?

 Thank you! But how can i know this is an authentic, real and honest rent roll, maybe the owner just made it up for the sale?

Dear BP community,

I am thinking to buy a fully occupied small multi-family house.

How can I actually check if the tenants are paying their rents?

Thank you all in advance,

M.G.

is it possible to listen to these podcasts on the radio ?

Dear BP community,

I have a very general but, i think, very fundamental question here.

If i am looking to build up my rental income portfolio, what is the best strategy for me when it comes to mortgages; should i put down less of a down-payment but pay a higher interest rates or put down a bigger down-payment and pay a lower interest rates? The difference in the interest rates is not more than 0.5% 

thank you all in advance 

thank you for your reply, it's held in the LLC name

Dear BP community,

I am relatively new on this forum and to the real estate investing in general. However, my partner and I own a one-family house in Philadelphia, Pennsylvania, which we are about to sell. Unfortunately, towards to end of our project we developed some trust issues ( more precisely some distrust issues). 

I was wondering, how after the closing once we get the certified check or a wire (not exactly sure which means of payments the buyer will use), could I protect myself and to secure i am actually getting my half?

thank you,

Mashy