All Forum Posts by: Robbie Case

Thank you guys for helping me make this decision. It really makes all the difference having experienced investors backing your thoughts. Honestly I would've probably chickened out otherwise. Christopher Leon Paul B.

The property is in a small rural town SW of Houston. It is in a nice area on a large corner lot. Realistically, rent will be 800-900. My down payment and closing costs will be around 5,000. Plus 10,000 in repairs (less if I trim and paint myself) puts me at 15,000 out of my own pocket. P&I $250. Based on the 50% rule: 800-400=400-250=150/15,000=.01 That's only 1% return. Am I doing my calculations wrong?

The property is in a small rural town SW of Houston. It is in a nice area on a large corner lot. Realistically, rent will be 800-900.

I feel like it is also, but that first new vehicle buying experience stung me pretty good (moved to quick) and I'm hesitant to jump on it.

Here are the details: Asking price=62,000 ARV=~85,000 Tax assessment value=88,000 Taxes=2,056 (last year) Repairs=10,000 The negotiations have come to a halt at 50,000. The seller is firm at this price. I'm looking to owner occupy this property while it is being fixed up and refinance out of the FHA loan as soon as it is seasoned. At that point I plan on renting it out. I just wanted to get a second opinion from my own.

I love this. So much knowledge getting thrown around.

Red tape is no bueno. Thank you for all of the valuable information Dawn Anastasi Michael Siekerka l Mehran Kamari

I see I see. I'll check with my agent on that Mehran Kamari. I hear that short sales take longer. I have a pre-approval that is good for 90 days. Am I being overly optimistic to plan on having this deal work out that quickly?

I see I see. I'll check with my agent on that Mehran Kamari. I hear that short sales take longer. I have a pre-approval that is good for 90 days. Am I being overly optimistic to plan on having this deal work out that quickly?

Thanks for the advice Michael Siekerka I'll be sure to check on those things.