All Forum Posts by: Rob Smith

Vikram

thanks for your help this is going to be a very simple deal it is 59900 minus 8000 leaves 51900 to be paid off in 8 years plus the whole seller wants 5000 and he is willing to take payments for 5 yrs what else is there to do i am buying this from a whole seller how do i know if the title is clear how do i protect myself moving forward what else needs to be checked i have always bought threw a bank and never did much other than signed lots of papers Thanks again for your help Rob

Hello and thanks for your help

i am looking at 2 due plex in Georgia they are selling for 59K for both not each 59K total i am going to put down 8K owner if holding the loan at 8.5% for 8 years i have called a property management and they say i should be able to rent the 2 bd 1 bth for 400 a month(they are all 2bd 1 bath total of 4) that would be 1600 a month 2 are already rented at 400 and 300 this one seller is going to move up at end of lease i am thinking these are the numbers
rent 1600 minus
160 management minus
68 ins minud
700 mortgage payment minus
71 second loan on the home minus
100 taxes minus
100 maintinance and repairs
that should leave 401 for me is this a deal what else should i do before moving forward i am in California

how long does my mobile home note need to season before you will buy it Thanks

i almost did a deal with SEG but i found better deals with someone that actually lived in the state were the deals were SEG is out of California and they are selling deals on the other side of the USA not to say they are bad this is just why i decided not to go with them hope this helps

Hi Doug I just tried to pm you it would not let me because i am not one of your colleges help me out thanks and welcome to BP

will a local bank work with me if i am from out of state i am trying to find places to buy out of California California is to expensive

great advice keep it coming thanks

I have 4 mortgages(rentals) and am wanting to buy more banks will not loan me more money i am trying to keep my 20K in the bank if i can for emergency's but i want to buy more rentals in this great market any body have any tips i have a 740 fico i am ok with buying anywhere in the USA What would you do if you were in my shoes i have a buy an hold strategy and i want my homes to cash flow each month after all expenses i am open to any and all advice THANK YOU ALL Rob Smith :D :D :D

would be nice to just know where the park are in any area is there a web site or some thing Thanks Rob

i have done all my rental deals threw the mail contact me if you need some help