All Forum Posts by: Skylar Dejesus

Thanks for the responses you guys! Yes, I did defiantly plan to get title insurance.

I am about to purchase a MF property in Tampa, Fl. It is a duplex I've posted the details in my previous post. Long story short I went to Tampa viewed the property and had it inspected. I am now back in Tennessee but the owner is now out of town for a month. He wants to close on the property through fax, is that possible. I've never participated in a deal that is not face to face. Does this sound fishy? I am not familiar with long distance deals. If any BP members who successfully invest in separate states have any advice or how you would properly go about the process I would love to hear your comments and recommendations.

For me its a numbers game and I can't produce the same numbers with the same amount of capital as I would if I invested in SFH. One main thing for me is the vacancy factor when a SF goes vacant there's no telling when it might rent again and during that period you are making $0 in gross income compared to vacancies with MF there are still renters that are providing gross income to offset the mortgage, insurance, taxes etc.

Pedro,

Thanks for your service! I would start by reading Rich Dad Poor Dad by Robert Kiyosaki I think it could help with a lot of your questions! Personally, I would have at least 5-10K for emergency repairs IMO. Next, I would get a duplex/quadplex that does not need that much work that way you can ease into your real estate investment career rather than a property that needs work which can often lead to more unexpected work. 

I would also look to join your local REIA.

Very insightful post! 

Look into some books there are several good one's on amazon if you key word 'wholesale'. I would also look to join your local REIA to start building a network of investors to pitch deals to.

I would do the same thing.

Congrats nice work!

Dominic, personally I would try to contact the owner a few times and handle it with him personally stating you have the proper documentation. If he is still trying to with hold the funds I would hire a lawyer.