All Forum Posts by: Mason Pastore

@Hermilo Garcia

One option is to make educated assumptions for the missing information. 

Rental income - You can use craigslist, rentometer, trulia/zillow to help find market rates for rental income

Expenses - You can start with the 50% rule and if the deal looks attractive enough you can start to dig around a bit more to fill the gaps

Originally posted by @Troy Whitney:

Good luck with these properties. I've been looking at both Philly and Pittsburgh for buy and hold from out of state. I'd be interested to hear about how things are working out in a few months.

@James DeRoest

 Walking away from this. The potential headache is not worth it - thanks again for the advice

Leonard Samuels check out BP podcast 106. Mike Sumsky has some good insights on this topic

James DeRoest Michael Modesto thanks for the advice. Seller's agent indicated that the seller would need the ability to stay for up to 2 months. I was thinking of having the seller put money in escrow and charging the seller a fee for every day they stay past a certain deadline. Is there a better way if this is a necessary contingency?

I'm looking to put an offer where the owner wants to stay for 2 months after closing so they can have the money for a down payment and time to buy another place. This is an investment property that I plan to live in for a few years before renting out. Are there any specific considerations that should be added to the contract. I'm a bit nervous about a situation where the current owner is unable to buy another place in this time period and will want to continue living in the apartment.