All Forum Posts by: Mason English

Jason Hirko I ran the numbers again and I think the best bet would be for $80k (if she would agree) $100,000 sale price $80,000 loan $20,000 down payment I would work out a plan with her, and she would (hopefully) agree to keep just $80k, and I would get my $20k back to help re invest in another property. Then later on, after improvements and time, refinance and get some cash back and give her the extra amount she wanted in the beginning. And whatever is left I will use towards another property. That way everyone is happy and I'm able to get started. Do you think that's a good option?

Jason Hirko Thanks man. I ran the numbers a while back

Frank Romine Exactly what I was thinking. Thanks for the encouragement!

Cole Lehmann Thanks man, that's great advice! I really appreciate it.

Mack McPhatter Ok thanks. I will get in touch with you if everything works out, and need to have work done on the property.

David Zheng She owns it free and clear. The Line of Credit was for repairs if needed, its been longer than 2 month so I can use some for DP if needed? Didn't know that.. I will discuss that with her and see what she thinks. Thanks for the info!

Mack McPhatter I figured it was maybe around the $140K range. It's off Nederland Ave, near Highway 69. Do you do a lot of work in Southeast TX?

Mike Reynolds Yeah, the property is in Nederland. I would assume with all the refineries expanding and more workers coming in, they will need a place to live. So I assumed it was something to look in to. Thanks for the advice!

Tyler Roicki Thanks for the info. You're right about the "memories". I wouldn't let myself get influenced by that, but just figured it would be good to keep it in the family as an investment property (if it works)..

Brandon Kelly Yes, those are included in the tots expenses. Thanks for the help. Mike Reynolds It's actually near Beaumont, Tx. And the house is actually in good shape, but I figured maybe a few improvements to help it look more appealing to tenants and not so dated.