All Forum Posts by: Matt S

It's an up market now. May be as best as it will be in a while.  The environment of low rates and pent up demand makes for a good sellers mkt.   If by selling it you can financially take the hit then sell it.   It's not worth the hassle.  This is truly a bad deal.   

Best of luck.  

I am in a similar situation. However my issue is upcoming cap expenses- new roof, furnace, siding.  You too may want to consider this into the equation.  If you do sell would you need to make improvements?   

Every time my gator property is vacant I want to list it.  It just never makes sense financially.  Then something big breaks and I'm deeper in the red.   

and don't put a ton of faith in Zillow.  Run your own #s and your knowledge of the market.   

Agree with Corey.  Find out if seller will carry financing and at what terms.  

Not a place I would live but not a ghetto.   Lower income area.  Good amount of sec8 rentals in this area.   

Buying this from another investor and just want to check to make sure deal makes sense...

Purchase $117k  - no repairs needed.  Immaculate condition

Rent-$1485(total)

Util-Tenants pay all but H20(approx. $75/mth per side)

On a 30 yr note at 4.5% with taxes and insurance looking at $650/mth.  25% down.

Just want to check before pulling trigger, and due diligence is over.

I am purchasing a SFH that is already rented. I'm interested in knowing what other information I should request as it relates to tenant.

I've requested following already:

1. Estoppel agreement

2. Copy of lease

3. Rent roll- proof of tenant current on rent

Thanks. 

"a good agent"   Very tough to find unfortunately. Most I have come across only want to do bigger deals which equate to more $.   I'd recommend getting your license.

have an opportunity on a 3/2.5 condo in a solid growing area. It is currently rented and owner wants out of it due to hassle with tenant. It's worth $130k and current notes are $125k. 1st loan is an ARM loan at $100k. 2nd loan is a balloon with 25k principal. Total payments are $1100 and rents in area are $1000 to $1200. Condo fees are $75/ mth.

The owner wants out of this badly and selling it outright has not been an option due to the market the past few years. Now as market has improved the seller is willing to break even or take a small loss to get out of it.  Tenant hasn't paid rent or pays only a portion of total rent.  

The positive are the seller is motivated.  And this is a developing area with big upside.  I'm just unsure how to structure this or even if it's worth it.  Had thought about assuming the 1st loan but unsure what to do with 2nd.  

Any ideas?  Walk away?

have an opportunity on a 3/2.5 condo in a solid growing area. It is currently rented and owner wants out of it due to hassle with tenant. It's worth $130k and current notes are $125k. 1st loan is an ARM loan at $100k. 2nd loan is a balloon with 25k principal. Total payments are $1100 and rents in area are $1000 to $1200. Condo fees are $75/ mth.

The owner wants out of this badly and selling it outright has not been an option due to the market the past few years. Now as market has improved the seller is willing to break even or take a small loss to get out of it.  Tenant hasn't paid rent or pays only a portion of total rent.  

The positive are the seller is motivated.  And this is a developing area with big upside.  I'm just unsure how to structure this or even if it's worth it.  Had thought about assuming the 1st loan but unsure what to do with 2nd.  

Any ideas?  Walk away?