All Forum Posts by: Rahiem Bush

Only way this would hurt you is if interest rates increased in a downturn interest rates would be low 

i like the lawn service 

North jersey

@Shawn Ackerman I could kiss you right now that's my best option much much appreciated 

@Steve K. he's getting an FHA it's a 4 unit property rents are 1200/month each he's planning on living in the basement of the place leaving all 4 to be rented

I've asked my lawyer about buying a home in someone else's name he told me nothing would be enforceable by a court so I have to ask about putting both names on the deed and just one name on the loan and see what he says 

Ok so I have a coworker who's looking to buy a home in the same area I've decided to invest in he's getting a mortgage in his name and asked if I would be willing to put up half the down payment and split the cash flow between the two of us has anyone done this do you have any suggestions any horror stories any success stories. It's a small initial cost $5k I'm not sure it's allot to loose the place will cash flow at close to $2k a month once rented so worst case scenario I make my money back once or twice and then loose a friendship. 

I appreciate the feedback I've decided to not use him as an employee and just bite the bullet as things occur and instead just save the fee I would have paid to cover any expenses as they arise really appreciate the feedback

you both can walk away from the deal at any point and did they have insurance....what I'm saying is most ppl sell as is due to lack of funds/interest in fixing the problems because they could invest $10k and make $50k when selling I would have the place reinspected and attempt to lower the price to cover most of the damages your already at the table nearing the finish line you have allot more power than you think speak to your attorney as to what you stand to loose by walking away like earnest money if u can accept what he says you stand to loose NEGOTIATE who else is coming to buy these pls damaged hurricane prone home but you, just FYI my first house asking was 380k as is I offered $300k then did an inspection and came down another $7k i represented myself the sellers agent yelled and cursed at me claimed I was trying to steal the house we closed 3 months later your at the table your better off doing the renovations yourself anyway 

Listen what I would do is drive around the neighborhood you can afford around 6pm if the bus stops have lots of people making there way from work there is one money to be made and two a community of decent ppl there I'm not sure if u have children if not living in a bad neighborhood isn't always as bad as it seems besides the money you collect in a year or two may propel you toward your real aspirations faster than not making the move and no matter where you buy your choosing the tenant so set a base line of what you will and won't accept and stick to it people live in Baltimore, New York, New Jersey all places that once where **** holes that have taken some major steps toward change but more importantly they made a big bag of money from those horrible hoods