All Forum Posts by: Recia Davis

hey fellow landlords and real estate investors! as with many other people, we have been moving to cloud based storage not hard copies of documents. however, this task has proved to be rather messy. do you have any tips for google drive organization for multiple entities, properties, purchase/sale documents, rental information, etc.

@Anya K. "Timesheet" by aadhk

Hi @Anya K. I have downloaded an app on my phone and use that. From there I can download my entries to excel and save them on my drive. good luck!

Hi all,

The seller and I are at a standstill at the moment. After reviewing his rent rolls and taxes per unit, his current offer yields a 3% CAP. Although having the largest ownership in the complex currently is an advantage to the deal, this CAP rate is unattractive.

If you've PM'd me, I'll keep you posted if there are any additional developments.

I'm going to be looking for an investor for a large condo package (40 units, same complex) and I need help negotiating/analyzing the deal in order to make sure it's profitable and attractive for an investor.  Are these types of deals analyzed by cap rate, appraisal of each individual unit or a combination? What experience do you have with larger package purchases (analyzing/negotiating/financing) that may come in useful?

This is the current, basic information I have:

Location - Phoenix, AZ

Seller is asking $49,000/door

Annual Rent: $414,000 <-- this is in line with market rent rates so not much room to increase without renovation

Annual HOA (includes all utilities): $180,000

Hi BP forum,

I normally wholesale properties, but I had a homeowner contact me and request a private cash out refinance. The property is free and clear and owner needs 35% LTV. I personally am not interested in taking this deal down but I know someone who is.

Is there a way for me to get paid via some sort of assignment fee without appearing as acting like a broker?

Thanks!

anyone claiming real estate professional status on their taxes? I'm wondering what you've found to be the easiest and best way to track hours and prove you meet the requirements.

Thanks in advance!

@Jeff Blankenship thanks for putting this out for discussion.  I think ultimately, the move you make should directly correspond to what you need. All possibilities that members are providers seem viable (so far :)) but they are solutions to different needs. So if you can identify what your need is, that may help point you to the solution that works best for you.

Personally, I am on board with @Ryan Dossey here. 

I would HARP Refi and then lease option the property out or sell to a creative buyer buy wrapping the current mortgage. A $900 payment, 4.378% fixed rate loan, and market rents >/= to PITI is an attractive option for some investors. Especially considering your current loan balance isn't even 10% higher than market value. This option would save you from losing any more monthly money (once the refi is complete and tenant-buyer/buyer are identified) and would allow you to sell without bringing any additional capital to the table.

Best of luck!

thanks @Terry Evans 

Those are my thoughts exactly :)

I agree. I love property radar.  Direct mail is so flooded right now, I'm looking to make my use of property radar more profitable. 

@Aaron Norris do you use the site to identify houses before auction or to bid on them at auction?