All Forum Posts by: Jordan Schrage

hello,

I have a question.

My grandparents owned a small repair shop on long island, New York they had owner financed it and the buyer is behind on taxes is there a way for someone to foreclose if they buy the lien? It's less than $2,000. Is there any tax lien experts that know what can be done to protect our interest. Thanks in advance

Thanks guys! @Brandon Turner @Mehran K.

@Micheal G. I will look at Allentown because my search for cashflowing properties was not looking to good here on LI. What is the property management company that you use?

Thanks all.

So seems like a good place to start is X amount of months of mortgage payments and seems like 6 months is a minimum.

Thanks again,

Jordan

Hello BP,

I am a 21 year old accounting student from Suffolk County, NY. I am a senior and plan on graduation in December. I am interested in investing in real estate for the passive income which I am learning is not so passive when you deal with tenants and problems. It is still a great way to acquire wealth and income for the rest of my life. I am a future buy & hold guy. I look forward to sharing my experiences and learning from all of yours.

-Jordan

Hello BP,

Alot of people talk about Cash Reserves but I haven't seen what that amount actually is. Is it 10k on 100k house 10% of purchase price. Is it the price to fix one huge problem? 5k for the roof so you keep 5k on hand. If you have 10 properties do you keep your same principle if you do the 10% of all your properties and you have 1 mil in assets do you go down to 50k in reserves?

What do you keep in reserves? How do you arrive at the number?

Look forward to your answers,

Jordan