All Forum Posts by: Henry R.

@Holly Prokop 

I was a LL for 15yrs and I always asked for proof of employment. They should have at least 3 times the rent in income and be working at the same place for at least 2 years. Some LL may require 3 or more.

@Brie Schmidt 

Any thoughts to having some/all of your rents sent to an electronic deposit  system?

@Brie Schmidt 

Wow! That is a great story and you did it so fast!  Enjoy! When I have more time I will read it again.

@Ryan Dossey 

 Thanks! I will do that!

It will start in about a week or so, I'm looking forward to it with some expection.

Great job! @Ryan Dossey 

I just signed up for my first try at direct marketing I am looking forward to a deal or 2 to wholesale.Thanks for the post!

Happy Birthday Josh!

@Brandon Turner I'm in!!

Thanks @Wendell De Guzman 

For your in-put on the 3 unit. BTW my offer was at 90K and not the full price.

Thanks again!

@Wendell De Guzman 

Hi Wendell it's been a while since I have been on biggerpockets or posted. I took some time off to regroupe and try to find an investment real estate agent. I did, however he was wearing to many hats and did not always get back to me in a timely manner. Anyway I sent you this info to check out for me if you don't mind.

it's a 3 family that has been re-habbed inside built in 1920, with a 2 car garage, full basement, only 1 boiler ( i know not good) but this is more the norm in my area. It was bought this year in April, for 69k and the asking price is 129,900, Curenntly vacant looks like they maybe tring to flip it. It's way over priced. The roof is asphalt and looks like it has 8-10 yrs left on it. has some new windows and some old. Needs new basement windows and a new drive way. Boiler looks newer. 1 unit is a 1 bed room, 2nd has 1 bed room with smaller rm with closet but not big for a real 2 bed room. 2nd floor has full 3 bed rooms, living rm, dining rm and a 4th room with no closet. All in all it's a nice building. Sorry I don't have pics at this time.

Thoughts?

Thanks

Henry R.

@Wendell De Guzman Thanks Wendell!

Only 1 that was a 3 unit, only problem the agent did a verbal. That didn't seem normal to me I offered half price at 45k, she called back and told me the seller went with a higher offer ( she didn't know what the offer was but it was higher?) hmmm.

I'm going to check with an agent that is investor friendly, the first agent was given my number and I was told she was very good, and she was at responding and keeping me informed for viewings, etc, but she admitted I was her first and only investor buyer. Not the best fit for me but I still learned things.

Yes, it makes sense what you said. I'm going to contact the next agent and make sure they are investor friendly and understand buying at a discount, cashflow, etc.

I also missed out on a 2 fam and single fam sold together next to each other a foreclosure. The asking price was 99.9K needed work but not a gut job for either one, on a busy street however many homes are also and most are rented or owned. They had 2 offers and I guess they went with one of them before I could make an offer, no rent info because all units were empty, however at rentometer it was 700 per month for each unit on the 2 fam and at least 800 for the single with a 2 car garage. taxes 8k for the 2 or 4k each. Tenant would pay own heat and electric. I would have offered 65 k 70k

Anyway, I'm in a holding pattern for the moment. Will update you as soon as I get sorted out with an agent.

Thanks again, it helps keep me going.