All Forum Posts by: William Moua

there is a Complex with 7 unit that is going for Auction here soon. It is about 1 mile from my house, great neigborhood and all.
the rent on the place is suppose to increase to $750 a month tax is about $6000 a year.

what would you guys pay for this place... they want 10% down at the time of the auction... can anyone help me with what to do... such as finincialing and all...

I am thinking $550K would be a good price... hopefully can get it cheaper...
let me know guys

Reading ont e 50% rule now... thanks MS

also Robin what do you mean by doing it the right way??? what other way is there...

Its funny how you say that...
I am a ES right now, slowly trying to go over to the I, like yourself, it just doesn't make sense right not to be a B,... because I do not have the system down yet...
I listen to RK's audio's everyday... trying to listen to see if I missed anything along the way. His ideal is great and wonderful, now I just need to build that bridge to move over.

But like RK says, I have fear. Because I am a newly wed about 5 years with two kids and don't want to put them into jepordy.

So I am trying to balance things out and slowly make the transcition... I figure buy a small house around $50K with 10% down and the payment with escrow would be around $400 then charge tenants around here are going for around $600-$700. To me that is a cash flow of over $200-$300 a month on one property.

Now if that works out... I will contiune until I have accur enough little houses then sell it to buy the big complex...

Does this soudn right... or no...
Give me your insight on this...

Also what is your investment group called and do you got a website or webpage...???

Michael

Nice to see some people in the same state in here...
Bellefonte, I use to have some freinds from there back in my college day when I went to Penn Tech... and always partied at Penn State...

What other adivce can you give another PA guy trying to fatten his wallet, to try to move from the E and S to the B and I.

Thanks

Honest Truth...
I am just new to the game...
Have some savings and been getting my credit in line for investment property...
Capital is okay... Credit scores are about 700...

Now all I need is someone to show me the ropes on how to buy a nice peice of property and rent it out...
Kind of like monoply... I want to buy a few houses, rent it out until the market improves, Sell it and buy a Complex... Kinda like buying houses and then sell for a Hotel in Monoply...

Sounds like a good ideal, now I just need to know how to make it work out and know the ideals and inside scope...

Yeap you got to Personal G on everything for now...
until the Business has a D&B pay index of 80 and a Experian Busniess Credit rating

So what is the process on how to do this then???
I need a quick claim...
then what
I know of people in a jam and they don't want the house no more...
I am willing to buy it out but with out too much work

New here from Lancaster, PA

If anyone wants an investor or partner look me up...

I want BIG POCKETS...