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Joe Francis has started 2 posts and replied 4 times.

End goal is cash flow. Rentals, is what I'm thinking?

0 Votes

Split it up across multiple properties? Pay off your own house? Put a largish down payment on a multi-family?

What you do?

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Originally posted by @Cassi Justiz:

You are right, it does SEEM like a good deal. Look for why they are selling it. There is SOMETHING about it that is making the owner want to sell. It should be cash flowing like crazy.

-Ask for proof of payment history from tenants

-Ask for a copy of the current lease

-GET AN INSPECTION.

-Check out the neighborhood.

Hopefully it really is a good deal in a good area, but I would be suspicious until proven otherwise.

Great points. Thanks for the insight, I appreciate it.

It would be a decent one to get started with, I think.

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I have found a sfh for $30k that I could maybe get a little cheaper.

It's currently rented for $900 per month and the tenant wants to stay according to the current owner.

I have not looked at the property yet, I'm very early, I'm super brand new.

What questions need to be asked? On it's face, it SEEMS like if everything is "okay" this makes sense. If I could scratch together the total amount in cash, then bought the thing outright...does that make sense? Or would it make sense to put down as little as possible and go that route?

Again - new and dumb. Any and all criticism/comments/suggestions absolutely welcome.

Thanks

0 Votes