All Forum Posts by: Oscar Turner

Hi guys, I have cash deposits ranging from $300 to $1000. I started buying and selling an electronic device. I can show where I was charged by the manufacturer for the devices. How do o prove that the deposits are from the sales of those devices? In total it's about $8000 of deposits. Thanks in advance.

Hi guys, I'm under contract for a 3/2 + 3/2 duplex in a C class area. Purchase price is $130,000. The house was built in 1980. 7 year old roof. Hvac, electrical updated after Katrina. Zip code is 70114, address is 3021 Copernicus st. New Orleans , la brick house on slab. Top half siding. I recieved a quote for $2100 a year. Is this the best I can get?

Hi guys, I'm under contract for a 3/2 + 3/2 duplex in a C class area. Purchase price is $130,000. I'm doing 20 percent down so financing about $104000. Botha sides are rented and it collects $1950 total a month. I ran the rental calculator and it says I should cash flow $680 month. Is this enough return for putting down $26000? This is my first rental. I may have to fix a few things such as fence and exterior painting. Interior is in good shape. New hvac units in both. Not sure about roof age until inspection. Tenants pay all utilities. Both units are on section 8. Should I proceed?

Yes it is on Copernicus. My counter offer was over his current asking price.  I just don't understand how a property that sat for six months amazingly popped up with an offer higher than mine on the same day as my offer after sitting six months.  I was told that the initial offer of the other buyer was higher than my offer. Why would someone offer over 136k for a property with a 130k asking price that has been sitting for 6 months with no pressure of multiple bidders? Im moving on I was just curios if this was common or not. I got a feeling they are going to come back to me but it may be too late by then.

@Mike Wood I have conventional financing. I know my agent is straight up. I don't trust the sellers agent. It just seems odd that a bidding was ensued over a stale property listing. Maybe its just a coincidence. Im sure its on section 8.  The area is ok I rode around there in the day and night.  It isn't the best location in the world.  I will continue looking I just don't wanna finance a 200k double and be in the negative as far as cash flow is concerned.

@Mike Wood My first offer was 125K considering the house was on the market for 6 plus months.  After submitting that offer officially in writing through my agent I was told that the offer was significantly lower. I then put in a counter offer officially and only received a decline by text stating that my offer of 136k was still too low. It just seemed out that a higher offer came on the exact same day as mine out of the blue.  This is in the Algiers area and I can see where duplexes are selling in the 130K-140k price range.  The house is already rented out for $2100 a month.  I just found the rental calculator so I will use that in the future thanks for your help.

Hi  all, I have 2 questions. 1. I recently put in an offer on a duplex. The house was on the market 6 months and the price was reduced a month ago from 140k to 130k. I put in a offer at 136k and was told by text that the offer was declined and the seller had another offer significantly higher than mines.  So is it normal for a house to be non active and received offers "significantly' higher out of the blue. My second question is Im looking to buy a duplex 3/2 and 3/2. Rents will be $2100 total.  What price should I stop at when looking for a duplex with $2100 rents in order to get a profit out of the deal.  Im expecting to put 20 percent down. Im just trying to see where to start with my price point.  flood insurance is about $500 a year in my area.