All Forum Posts by: Marquis W.

Hello BP, my sister is looking to by in the Orlando area something in East Orlando, hunters creek, lake nona area. She is looking for something move in ready. If anybody has a flip that they have completed coming up on market please let me know.

Looking at properties in Kings County ( Seattle Area). How do I find out how much the property taxes are? Also looking at properties in these cities below any help would be appreciated.

white center
lakewood
longview
port angels
kelso
federal way
alberden
port orchard
yakima
centralia
tacoma

Hey, BP I Live in south GA and I am considering working in the Seattle area.  I only have to to report to work 36 times a year so at first I considered just making 36 round trip flights back and fourth between GA and WA or getting an rv and just keeping it parked somewhere for the times I don't feel like coming back. I am now thinking it would be best to invest in a duplex or some type of vacation home that I can rent  when I am not using it. With that said I need to know what to look for as far as the math is concerned. Here at home we have a very affordable market i just purchased a 2400 sq ft home for $10,000 I don't see that happening in Seattle, so I need help justifying Seattle's Market and making sense of either vacation home rental or multifamily with me living in one and at least breaking even if not cash flowing.

Because of Carlton Sheets scam or not, I am a successful investor today. I remember watching him at that age of 11 and saying that's what I want to do the rest is history.

This is true...hmm... all good points. Co-worker in the sense we work for the same company but totally different departments I have never met him before him applying for the rental so no interactions no conflicts of interest. 

Hey BP, 

I am considering renting a property to a co-worker and would like to get rent pulled directly from his payroll into my account which he is agreeing to do. I like this method but a bi-weekly payment is also a partial payment  which in the state of Georgia you don't want to accept because you can end up stuck with a tenant you can't evict if for some reason he stops the automatic draft. How could I utilize the convenience of the automatic draft every 2 weeks but avoid the pitfalls that could come with it if payments stop? Being that its automatic it should never be late, but if it is late for some reason how would I enforce a late fee if I already received half of the rent from the previous 2 weeks. 

Get your first primary home, this will be the most important because this will be what you use to fund your empire. You want something that has plenty of equity and potential. Once you get your primary home you can open a LOC with bank (Line of Credit) with that LOC you can brrr (buy,renovate,rent,refinance). Take the money that you get after refi and pay off LOC and do it all over again. Tip 1: stay under 15 year term on mortgages 10 or less is best. Tip 2: make sure every house you buy has equity in real estate equity equals leverage which is very important. Tip 3 if your market allows it find rentals that will pay themselves off in 60 months. Example if you have $30,000 invested in it after reno make sure its rents for at least $500 a month. Tip 4 screen your tenants and be firm on enforcing your lease. If someone is late don't want to take action. Tip 5 Do some research on which banks in your area are real estate investor friendly you want to deal with banks that understand your vision and can help you attain you goals.

If I sale a house in Georgia that I inherited for $35,000 how much could I look at paying in taxes. The house has no liens on it is would be a all profit sale.

Albany is a great market for rentals. I am a product of the city and also a firefighter so I know the area like the back of my hand. Albany is more then 50% rentals so we have a very low vacancy rate. I have 5 rentals now trying to buy as many up as I can while the getting is good. Just to give you an example of the opportunity here in Albany my last to purchases where a total investment of around $50,000 that includes purchase and renovate cost and I rent them for combined $1430 I don't know many places where $50k gives you a monthly $1430. But I also get all my work done for really low prices because I know people that do good work for cheap. So come on to Albany and get some of this money man its more then enough for everyone.

In Georgia all transaction must have happened like 3 years ago and must not be in arms reach so you can't sale to mother or brother etc.