All Forum Posts by: Michael R.

knew someone would say that. I am 6 hours away though so kind of hard

How do you handle paying a property manager on a property that is rented to a Sec. 8 tenant? Example; I have a Single family rented at 800$ a month. 675$ is mailed to me from the county. Mangers are charging 8-10% of gross collected rents here. I do not feel like I need to pay them 80$ a month for picking up 125$. I know there is more than just picking up rents involved, but I want a simple agreement of mailing me the rent and handling minor repairs. I do not need them to pay my taxes and everything else like some companies offer. Any Suggestions?

Why wont you be able to resell in under 90 days if you buy with owner financing? I never heard of such a thing and I buy all my properties via owner financing

I would check out the property and area first. There are lots of war zones in Buffalo and I would not buy without taking a first hand look. I know someone who purchased 2 properties and from my understanding the ecomomy is not all that great there.
Good Luck,
Mike

rentometer.com I have used it and it has rent rates a little higher than normal in my area, but it will give you an estimation

Realtors I have dealt with always try to get me to purchace in non low income areas therefore purchace at a higher price. You need to find one that will work with you and understand your needs. They are a dime a dozen.
That being said I do not use a realtor at this time and I invest in low income area. I get great cash flow in my opinion. I just bought my third property. I got owner finacing on this property as I did on the 2 previous ones. This property was 10% down, 8%, 15yrs, Purchaced at 30k. Its a duplex in pretty good condition renting at 1100 a month. Put a little work in it maybe 500, (did work myself).
Deals are out there for me they are better without a realtor so you might want to try that route. One day you might meet the right one for you to work with but in the meantime dont waist your time looking for a good one when you could be getting good deals yourself.
Good Luck

I guess the Union does not realize that if they dont make some concessions they are all going to be unemployed. Typical American greed in my opinion. Greed is what has brought down many empires and I think we are seeing the fall of this once great country.

I have some properties in Rochester. Great cash flow, just make sure you take a good look at the property before you buy. There is lots of properties that need lots of work.

I think sec. 8 or not your still going to have all the same expenses. My sec8 tenants pay a portion of their rent personally, so you might still have to chase the money anyway.

I have tried running ads on craigslist looking for private investors to fund down payments on income property I am looking to hold long term. I have only had one response and it was not really what I was looking for. I was wondering if anyone on here has experience with advertising to private investors? Ideally I would like to borrow 30-40k to finance the whole purchase, but 5k is what I am initally looking for to borrow at a time to pay the down on owner financed properties. Any suggestions? What would be acceptable terms? I was offering 3yrs 10% on a 5k note. Thanks