All Forum Posts by: Sunny P.

congrats!! What's a wholesale deal? 

I know that I am asking this on a real estate message board so answers maybe skewed.  So as an investor, do you diversify?  

Are are investment options:

Pre Tax contributions and post tax contributions.  In those 2 categories, you could mutual funds, individual stocks, real estate, gold, etc.  

so do you diversify?  

Biggest reason I can think of real estate is leverage.  Anything else ? 

 Where in Ohio?

 Ryan,

I completely agree that the special assessments can be large but my question is that isn't a single family or multi family also require new Windows or a roof at some point?

Wouldn't a single family or multi family require landscaping, snow removal, lawn mowing?   Tenants don't like to do all that so that means, we'd have to find somebody to do that....

I agree that appreciation in value is more in single family.  

I question cash flows.  I feel like if I bought a single family for $150,000, it would be very hard to get $1500 in rent but if the condo was $150,000, then it'd be easier to get $1500 in rent from that.  Agree ? Disagree?? 

The whole thing about limiting rental units, I wonder how many condo owners even disclose to their HOA that the property is tenant occupied.

Those are amazing deals. If all they needed was carpet and new paint, why did they go for pennies on the dollar?  What's the value of those condos ?

I would think the normal process would be regular MLS > short sale > foreclosure sale > court auction.

So if the property is really desirable, wouldn't it go fast in short sale?

I thought once it gets to court auction, it's trashed and requires significant repairs?? 

Why would a bank let it go for that cheap?  

I want to learn. Thanks. 

That's impressive. About your purchase prices, were these regular MLS listings or foreclosures? It's amazing that on the 2 you bought for $111k and $103k, you're getting well above 1% of purchase price in monthly rent.

When you're searching for units, what's your ideal search criteria?

I have 2 units in the same complex and they both have 2 CAR Garage and that basically is the biggest selling point. 

Russell, could you please expand on your cash flow from these condos especially after paying the HOA?

also if one is expecting only  $200 per month per unit then you gotta have like 100 units to quit your day job and make maybe $20,000 a month before taxes.  

How are folks living off their rentals?? 

can someone explain capex a little more?  Capital improvements down the road? 

so I have come across investors that can live off their rental properties and then you some that are just happy with getting their mortgage paid off and have a little extra for repairs and maint. 

Example: if you're buying $2 mil in rental units, do you expect to make money on it?  Or just happy with getting the mortgage paid off?