All Forum Posts by: Rob Witt

That's a good point @Matthew Pinkston, nothing like building cash flow only to blow it on deferred mantance and go back to 0 or worse -0. I may have found someone with the 20% down, found out how much I can loan. I'll more into duplex/triplex/quad(s), I just hope I can get something before 2017.

@Celeste Karan I haven't gone in and looked at the units or physically been there looking, but I talked to the realtor and ran what numbers I found on my own. The rent is one thing I wasn't able to verify without a rent-roll. 

So, worst case senero: I spend money on an inspector and learn what to look for. Other than call the city, do either of you know where I can inquire for someone to look at properties?

Thank you for your Help,@Adam McCarty and @Celeste Karan.

So, I noticed that there are four property's (3 are duplexes and one 6 plex) on the MLS. All have tenants. As much as I would like to buy all four, only the 6 plex is offering seller financing (I don't have close to 20% down). However, the 6 plex was up for sale last year and it has been about halfway through the second year of being up for sale. I guess my question is should I find an inspector and try to buy the property or just walk away with out knowing? last year I saw it and my realtor (whom I bought my home through, so no investor thought process) said several people had looked at the property and did not buy it, so I shouldn't either. the other question is if I should look at it what does the process look like? I'll probably have and attorney for the contract to buy should I look at Ken Mcelroy's book for a process? I would post Numbers but I cant upload the Excel sheet.

If your attorney has no advice, then here is what I would do: sounds like your cleaned the carpet yourself with a wet/dry vacuum for carpets. I would use the rest of the money for a professional to come. They will be able to take out pant and syrup, no problem. This will probably take a few hours and you can't have any wood or metal touch the carpet. or you could spend a few days cutting small fibers out and have a bald spot in the carpet. either way charge them accordingly.

hope this Helps,

R

Good luck dude.

welcome, do you plan on doing business just in the clearwater area?

Depends, what are the pro's and con's of eather other then money. I don't think I would do by room unless it was built that way.

have you looked at using the calculator here on BP for this? How many other deals have you looked at before this? if not many then look at more. I can't tell you much about this because I'm not farmilar with your area.

Hope this helps.

Yes, if the management will not even step foot in the unit I would see if you could get coworker(s) or nearby friends that are willing do travel to be a witness to the condition. Just a thought. Please keep us updated I would like to know what happens. 

Knowledge. Applied knowledge is power! adsorb what you can here learn as much and most importantly take action. Find other like minded people to hang around be it once a month or week or whenever. Good luck my friend. You can do it.