All Forum Posts by: Rigo Medina

@Aisha E.

@Elizabeth Colegrove

@Joe Villeneuve

@Bill Manassero

Thank you all. The fixer ups are my initial choice.

@Kevin Schulte

Thanks for the information. I am starting slow. I am in the learning and exploring stage now. It seems like I learn a new way each time I log into BP and my brain is thinking of other ways too.

As a newbie, it would be great to buy a rental home that cash flows positive from day 1. Has anyone bought a rental home that cash flowed $300 net from day 1? The ideal scenario would be that the rental home is already occupied by tenants and does not need rehab work.

I've been told that those deals are out there and they are usually from a tired landlord that just wants to get out of being a landlord.

@Rick Pozos

You are correct. The part from George saying that there are private/specialty lenders out there is what caused me to ask.

@George Despotopoulos

I had not heard that Private Lenders lend up to 30 years. I've always heard that a private lender usually wants their money back in about 6-12months. Would you like to share a few names of those hard money lenders?

@Paul Stout

I don't know much about mobile homes, but I think they are inexpensive. I ask out of curiosity; how much cash flow are your targeting per mobile home after your $200 a month?

With a mobile home, do you get 30 year terms on a mortgage or are they shorter terms?

@Corby Goade

Question about the cash out.

When you say you are cashing out, what percent of the duplex value will be financed on the new mortgage?

@Devan Mcclish

Share the lucky charm!  That is awesome. It is all due to your hard work and persistence.

A guy once told me that when you knock on the door of opportunity, it is work who answers the door and one needs to be ready to work hard.

@J Smelser

I think you'll have a lot of interest on BP from buyers. It will be attractive if the cash flow is right or if there is potential for equity upon purchase.

@Cleopatra Montero

Welcome. The meet ups are great. I have found lots of resources and help through BP.