All Forum Posts by: Account Closed

We've had a long-standing, complex medical situation with our family that has turned into a family emergency.  Our 32-year-old daughter-in-law, the mother of four young children, has developed breast cancer.  We need some cash off of one of our properties for bills, as well as a stream of income to take its place, but to sell it outright, the numbers don't make sense.  This is far beyond our expertise to unravel and are hoping to find some saavy BP investors to present us with some reasonable options, especially considering our ages (late 60s).  

We bought a 2/2 condo (1050 sq. ft.) in June of '13 for $339k, with a down payment of $209k. It's in a beautiful area of inland South OC. We owe about $102k on a 30-year of 3.75%. Redfin estimates it around $447k. We have a tenant in there until the end of August. We're clearing about $250/mo. Rent is $1950, PITI is $1115, the HOA is $365, and PM fees are $160.

Redfin estimates that if we were to sell it at that $447k price, we'd have $332k in proceeds, but that's just based on her 1% commission.  That doesn't include the buyer's agent commission or taxes.  We estimate we'd only pocket $80k.  Even though it provided a stream of income, that still would be an enormous loss from the $209k down.  Additionally, since we've got a tenant in there for 6 months, that likely would mean selling to another investor who clearly would want a steep discount.  If we did a 1031, then we could not cash out anything, and that's a problem. We also can't take some money and then buy notes with the rest.  We can't refinance because we couldn't get anything like the 3.75% like we have.  We can't turn it into a note because there's a mortgage on the property.   Not crazy about taking a second because there's no idea when this crisis could end, and we don't want to take the chance of losing everything invested there.  

Any suggestions?  Thanks.

Hello BP, I am considering selling my first buy & hold SFH investment for a better investment. I bought my first investment in late 2016 in Kyle, TX. It was a new contstruction - 1400sq ft. After PITI and HOA's, I am only cash flowing $145 per month (excluding cap ex, vacancy, ect.) - so my real cash flow is close to zero. I have since purchased my second and wisely chose a better cash flowing SFH in New Braunfels - $375 cash flow all in. I am comtemplating selling my first to buy a better investment in the same area (New Braunfels/San Marcos). Lets assume I am able to recover my down payment after the sale including closing costs, ect.:

Should I 1) sell now, reinvest and get a better cash flow immediately (after a break even investment over 18 months); 2) hold off until I can sell for atleast some profit, or 3) Sit and wait (buy & hold)...and assume/hope appreciation will come though in a growing market near Austin (keeps some diversification as well)

Id like you hear some feedback.   *note - this is assuming I can find the same deal as my second (just to keep it simple).    Thank you! Ken 

How many names can be on a property title? Let's say there are 6 people putting up money to purchase a property, can all of them have their names on the title? If yes, do they all have to be present when signing or anything related to the property?

Thanks in advance!

For this year, the completion of 11 office buildings projects in the total area of over 200,000 square meters is planned in Bucharest. The new premises to be built add to the modern office stock in Bucharest that reached the 2.76 million square meter threshold in 2017. The yields are very good and the market still has potential to develop. 

hi everyone, i'm new to rei and want to gather knowledge for the future; since i'm in college and work part-time i won't pull the trigger until a few years. i've been learning the vocab, market data, hearing the BP podcasts and i attended my first local re meet up yesterday. i want to get a better understanding, what would you do if you were  or are twenty-one and wanted to invest in re; would you rent and invest or buy a primary residence first...where would you go from there? i know, the data will change, but just general opinions and views from people who've been doing this. thanks very much 

Lead pricing varies based on the criteria used, and the type of list.

Some common lists that have proven effective include Absentee Owners with Equity, Seniors with 20+ Year Ownership (think downsizing), Recently Divorced and Financially Unstable.

Good ol’ well-meaning newbie investors, so some perpetual problems are below. And the good or bad part is that they often just don’t know any better. Then they get the unenviable talk of juxtaposing motivating stories with some realities.

1.) Someone told them to think about long-term goals and then 10X them! They spend more time thinking about their goal to acquire 500 units and their “financial freedom” number than they do about finding Property 1.

2.) They have no money.

2a.) They expect that other people will eagerly and happily give them their money to invest.

2b.) Because they have no experience and no money in the deal they see all of the opportunity and little-to-no-risk.

3.) They assume there’s an easy, simple, anyone-can-do-it, 10-step, no-risk, use other people’s money, strategy.

4.) They use podcasts and books as a proxy for experience (see 2a).

5.) They hear someone who has done 100 deals talk about their best deal and assume it’s “average” or easy to come by.

6.) “Getting creative” is seldom a solution for zero money, no experience, and horrible credit.

I’m feisty this morning... 🤔