All Forum Posts by: Stanley E.

Dawn Jett not negative at all. Very Thoughtful. I hadn't considered those issues. I certainly don't plan to rent the storage to an additional tenant and now that you've mentioned it as a possible issue, I'll be watching out for it when I do rent. I was hoping to get info on how to use the storage to increase cash flow, but this is equally as valuable. Thanks.

Hello BP. I'm going to look at this SFR I have been watching for about a month. I went by yesterday and took picks of the outside for myself. Going tomorrow with my realtor. The property is 676 sq ft and about 6 blocks from the major university in the city and 2 blocks from an elementary school. Well, the property has what seems to be a shop in the back (probably a 10X10) with electricity running from the house to it. My question is if I find it to be a good deal when I get inside, what will I do with the shop? Do I charge for its usage by the tenant as a separate fee or roll the usage fee into the rental price? I know you investors have some ideas for me and I'd appreciate it. I want to have a skeleton of a game plan going in. This will be deal #2. Thanks.

Hello BP. I am considering investing in a SFR a few blocks from a major university. When I look at the County Assessor's information on the property, it shows the Land to be 15K and the Improvements (house) to be 12K. What is this an indicator of with regards to these two factors? The property is priced at 15K. Thanks.

Thanks Ned. This info is helpful. I definitely don't want to be a spammer, but I do want to get the best price possible.

After reading the Millionaire Real Estate Investor, I have been calculating my prospective REI purchases using a 20%-30% discount off the asking price so I can make my money going in. I wanted to know is it reasonable to expect this type of discount with foreclosures or are the banks reluctant to go for this? Thanks for any help with this.

Kenneth Hynes I am paying all cash. Looking to get a 20-30% discount on the property as well.

I have a fully paid for property and I generally cash flow around $400/mnth on a 600/month property after minor maintenance, management fees, and insurance. EXCEPT, I had a HVAC issue that cost me $1,400 and reduced my cash flow avg. putting me at/below the 50% mark. The upside is that you fully own the property and don't have to factor in debt service. Hope this helps.

Thanks everyone. I've runn the numbers and the property will still cashflow well. I'm looking to have it under contract next week.

A 2br/1ba SFR w/basement for $12,500 (all in $15,500). Rents for $600. It's my on REI so far.

It did cost 19K until today. Now it's 15K.