All Forum Posts by: Mitchlyn D.

@Jack Nguyen  I only have 6 total units but for right now, I use cash app.  This seems to be the app most tenants are using and simplest.  

@Naveen Kumar Did you account the cost for:

1. Interest

2. Taxes

3. Insurance

4. Property Management

Plug the above numbers in and see if it still casflows to 'your' expectations.

@Alan Hyland Great move from sitting on the sidelines!

Jax is a good area. Alot of potential. Reach out to me if you have any questions.

I got in touch with an out of state owner who has his property for sale.

Sale Price: $79,900

Property details:

It's an actual house consisting of 3 bed 2 bath. However, he converted the house into 2 units(2/1 and a 1/1). The units are in shared water and electricity. Owner has paid the property off and has no motg

Negotiations:

The seller wants to do like a lease option with $250 a month(none going towards the principal) for 2 years and $5K down. I don't like that option because I want my payments going towards the principal.

Rent:

I Know I can rent the 2/1 for around $750-850 and the 1/1 for $450-550.

My question is, how would you negotiate or what is the best way to get this property?

@Shaun Weekes Yes, I already have a heloc for $20K on stand buy. But my goal is to partner with another company for the additional financing.

@Shaun Weekes Seems a bit bizarre. I'm trying to get capital to flip a property so I can do a BRRRR. My quoted interest rate was 8.4%.

Is $750 a normal fee to submit a credit application for a fix and flip loan?

I’m entertaining a company that is requesting this amount to do an application.

Try www.pureproclean.com 

@Joseph Henderson I have heard the same exact sentiments.  But I guess it depends on the street.  People said the same thing about 32254.  We have a property in that zip code we purchased for $45K and it rents for $850.  

@Anthony Wick I got mines done for way less than $3,000. But my square footage was about 800. The cost was around 34.03 per box.

Labor = $1,000

Materials = $1,324.63

Labor included removing and disposing old carpet and vinyl flooring installation. In this business, you want durability. You may have to pay a little more now but it will be efficient for you in the long run.