All Forum Posts by: Mikey Cas

So would that mean there is intense competition in low income rental areas to buy properties as investments??? And when people say you "force cash flow" how much down is considered forcing? More than 25%??? Thanks guys your advice is excellent

I guess to sorta answer my own question its all about taking on more risk in a lower income area....Just like anything else in finance and investments, the more risk the higher expected return. BUT whatabout any experienced investors, Is it really more risky in a low income area and is it wise if the numbers work?? Thanks a lot for any help

Hey guys this is an excellent website. I enjoy reading and gaining valuable information on here. I have a question. I read on some posts about positive cash flow, net income, and the general 2% rule for gross incomes on property value. Many have said this takes much hard work to find these type properties unless it is a low income neighnorhood. I was wondering if it is "OK" to invest in a low income area. For me it is all I can afford as a beginner and the numbers seem to work out. I found a couple of properties that work out with the 2% rule with basically nothing down after expenses. Is this too risky investing in low income areas??? I am more into cashflow for now than speculating on appreciation anyway. Would it be foolish to invest in a low income neighborhood property even though it can generate some income???? I figure if I start now and accumulate a handful of properties in this area I can build up enough money to start looking for investments in more middle class desireable areas.

Thanks for the great advice. When i said start small I meant finding a property where I know would not need any major structural work and just cosmetics like new paint,landscaping, maybe new windows, roof. It seems like the only stuff I may find will have small room for improvement and the properties with huge potential are eaten up way before they hit the mls

Hey guys I was wondering when rehabbing if you can find some good deals through mls and realtor websites and asking real estate agents to email leads etc. Its my first rehab and I have found some properties that have some potential. I am starting small so I would be happy making 10-15k on my first deal after all closing costs etc. I would love to make a lot more but I dont have a lot of capital/credit for improvements. You guys have told me with wholesaling and assigning contracts you wont find anything through mls but does that apply to finding rehab deals? Do most people go hunting through town finding distressed properties on their own? Just looking to start off small and build up little by little and gain experience. Thanks for any help and advice it is greatly appreciated.

Its upstate ny investment properties. I think the company is from england maybe? the website url is at uk and they have conversions on the property currency. Just curious if anyone has invested with them or purchased any properties and how it went. Thanks for any help and insight

That makes sense. Thanks a lot for your advice

very true, thank you. As I go on my journey to look for deals, what do you suggest? Going online and mls? Or going through a company that lists foreclosures and preforeclosure?

ok i get it . Thanks. So before i get into this, I have to establish a list of potential buyers that are interested in rehabs. THAN i look for the properties.

After reading through a lot of posts and asking questions I have a much better understanding of the wholesale process. I just am curious about the assignment process. What benefit or why would someone selling a house want me as a wholesaler to form a contract JUST for the purpose of having a buyer take it over. I understand the benefit I will receive, and the rehabber who gets the property, but why would the seller want to cooperate?? They want to sell the house as fast as possible so why would they want a newbie trying to wholesale their property? Thanks for any insight