All Forum Posts by: Hassan Tirmizi

Im a realtor and I help with the investor (buyers and sellers) with their closing cost out of my commission. I think you should ask the same of your realtor. 

I would calculate how much positive cash flow I would make in a year. Now take that number and wholesale it to the new cash buyer for that amount.  You basically made what you were going to make in a year and reduced your risk to zero. The seller will take a hit but at the same time this is business and you got in first 

Hey all, I'm in the state of Florida, Pasco county. I have bought a property at auction and I need to evict the residents ( probably previous owners) I sent them a notice with cash for key option but have not heard back from them. Here is my question. Does anyone have a sample eviction notice for possession of the property. All I'm finding online are for eviction notice due to non payment of rent and that's not what I want So if someone could share an eviction notice sample letter for this particular scenario, I will greatly appreciate it Regards Hassan

so there is nothing better than working with someone that has been referred to you.  That being said I have been looking at properties in the Tampa Florida market. These properties are cheap but at the same time require some work.

I am reaching out to the bigger pocket's Tampa community to assist me and refere a GC they might've worked with in the past with great outcome.

I want to have a general contractors feedback on rehab cost of a potential property Before I  put an offer on it

Thanks in advance 

Hey Gavin,

I am an investor in the Tampa market. Welcome to BP

Consturctive advise was welcomed. Thank you

Tim my bad - I addedd Tax to the figure too

Could my peers please look at my calculations and advise if im overlooking something or being overly optamistic and advise if thisis a good deal

Buying a duplex (2/1 each side) and here are the numbers

• Purchase price = $68000
• Down (10%) = $6000
• Closing cost (2% estimate) = $1088

1st loan (mortgage) = $54400

• 1st loan payment (6%)= ($327)

2nd Loan (LOC) = $5000

• 2nd loan payment (9.25%) = ($150)
• Month Insurance (estimate) = ($100)
• Rent from both units = $1325

My calculations tell me that:

• Rent = 1325
• Expenses = $577
• Profit per month = $ 748
• Recovering initial investment (down payment and closing) in approximately 1 year (provided no vacancies)
• Using the 50% rule (I think this is how it goes) profit is = $171/month

Thank you all for your feedback esp Doug with that great link

But how can I tell which bank owns the mortgage

thinking of buying property through the court house auction but I want to know if I am still held liable for any outstanding liens (2nd mortgage , contractors....etc) after I have the winning bid