All Forum Posts by: Sally Saladino

Hi Ian, There is a meet up in Seattle that is happening this Thursday at 7:00pm. I know it's quite a drive but the community I work with has a wide range of like minded amazing people. If you are interested please feel free to PM.

I work with a REI Club that is based in Spokane and the reason why I love and want people to come out to this group is because it focuses on community, motivation and knowledge! You get to meet with many like minded people that can share their experiences and give you the knowledge and motivation you need to succeed and get out of the rat race! We meet every week with new and seasoned investors! We discuss different topics that revolve around Real Estate, Investing, Financial Freedom, Taxes, Retirement, etc... The Main goal and purpose of the REI Club is to provide education, information, mentorship and networking to further its member's life and real estate investment goals.

If you are serious about making a change to better your life and become financially literate and build a future for yourself. Come to our meeting! We would love to meet you!

I am involved in a Real Estate Investor Club and we are having a meeting Tonight talking all about real estate! The Mission and purpose of Next Gen REI Club of Spokane is to provide education, information, mentorship and networking to further its member’s real estate investment goals. If that sounds like something you'd interested in, send me a message! :) We do have more meetings too. So send me a message for more information! :)

Jeff Wallenius I found the property through a website called offer up. An old well established investor was getting out of real estate and was selling his properties. They're not the best properties but they do produce a good cash flow if you buy them out right or get them on good terms. It does need repairs. Mainly cosmetic though. It'll probably cost between $10-15 thousand. So I was going to ask a bank if I can do a rehab loan or possibly get them to do both a refinance and rehab. If they can value the property as if it was already fixed. The rent is low for that area. It should be making $1,100 monthly. We haven't been able to raise the rent or kick the tenants out because we bought it as a contract sale of real estate , so the previous owner has to agree to it and he will not. So if I get it refinanced I'll own it and have control. If I could find a lender I am will to change the interest rate and the years. I could do 15-30 years at 8-10% interest but I don't know if that'd be anything a lender would be interested in. Possibly someone who doesn't want to invest in real estate but wants a better return then a 401K or CDs will give them?

Me and my boyfriend bought this Duplex in Anderson IN on very steep terms. We have it on contract at 6 years for $30,000 with $3,000 down and paying 10% interest. Both units are rented and it makes $800 monthly. We are paying for property taxes too, so it equals to $576.45 monthly. Then the property management takes out $80 and we also pay water and sewer, so right now we are currently negative. We should've been smarter about this property but we got eager and jumped the gun. I just want to fix it now and make it profitable. I would like to refinance it with a bank for 30 years at 6%, that would be ideal, but I am open and would like different options. I've been told private money and hard money won't lend me that because of the amount of years I want. My question is, What would be the best option for me get it the property refinanced?

Okay thank you so much for the replies and for the knowledge I did not know. Once I find a new property management team I'll give them the thirty day notice. If I put it in now Would I still owe them the 10% of rent next month since the 30 days would fall into next month?

I've inherited a property management company when I bought a property and they seemed to be good at the beginning and did what they said. They apparently manage almost 300 properties, which was kind of a red flag to me because there were only 4 employees. We did end up moving out of state and didn't sign a contract with them so that's one of the big issues going on. Plus they don't answer emails anymore or phone calls but they do call back every once and awhile. It's very frustrating. So I want to change the property management on that property and since we haven't signed a contract with them I believe that means we can do that. I'm question is How do we get them to change the property over to a different management company in a timely manner? Since we're out of state.

John Knisely Yes it would have been $2,000 rental income but after expenses we'd take about $530 And the duplexes were rent ready and full renovated. Sadly we couldn't get them under contract quick enough so another buyer came along and bought the duplexes. I'm just having a hard time finding private money lenders or even hard money lenders. I have a bunch of deals here in Indiana but I can't find someone to partner with. I'm going to a reia meeting next week and I'm hoping to make relationships there.

Michael Sato @Dave Visaya Thank you for welcoming me here! I really appreciate it!

I'm visiting two duplexes in Anderson IN and the owner is selling both as a package for $50,000 and is willing to sell on contract but with 50% down. The duplexes are fully renovated and are in a C class neighborhood and can make $2,000 monthly together. Right now we can only afford to put 35% down. My question is should I find hard money or private money lenders to finance the rest down payment? Or possibly ask them to finance it in full? Because I've been told they really don't lend small amounts of money.