All Forum Posts by: Talia Woods

the property is current. its the other units that are delinquent.  I think the bank said 60% delinquency and but bank threshold is 15%. that's a pretty significant difference.  

LOL, short and sweet.

I was recently declined financing because the HOA delinquencies were too high. There are some loan officers that could approve financing for these types of properties. The property was under 70K and i would have over 300/month in cash flow after all expenses paid. Good idea?

I am confused on whether to purchase a 2bd/1bth condo in a gentrified area close to public transportation or purchasing a 3bd/1bath condo in a "ok" established neighborhood. They are comparable in price however after speaking with some of the residents in the 2bd condo, i am alittle scared. They said the HOA doesn't do a great job, the roof needs repair, the parking lot needs repair and the upkeep of the hallways are UGH. but i love the location and i see potential. I am planning to buy and hold. The 3 bed locations the tenants didnt have any complaints because their cars getting broken into. HELP!!!

I am trying to decide which niche and strategy to implement and have become overwhelmed.  I originally wanted to flip houses however doing some research and talking with some experienced investors, they advised me on finding out my niche and strategy.  So my question is did you find your niche or did the niche find you?  I am an accountant so i think i would be perfect for buy and hold properties but i also like the idea of flipping but i know nothing about general contracting.  

i am considering buying a fixer-upper in the DMV area but my husband is hesitate. there is water damage near the water damage by almost all the windows (approx. 9 to 10 windows), so that means its a roof issue. The kitchen and bathroom needs to be gutted. nothing salvageable. My question is how how much money should an investor used to gut the kitchen, bathroom and roof? is it worth the $$?

you guys are awesome!! thanks soo much for you insight. that really help and i feel a bit better about what i need to ask and look for. I have another question.

Do i have to ask the tenant for their information to run a background check or because i'm taking over their lease it's ok without their permission?

I am thinking about purchasing a property that already has a tenant. I have a couple of questions.

How would i get a copy of the current lease?

Would i get the security deposit from the current landlord?

HELP!!!

Thanks!! this helps alot. I have been working with my Realtor and i might start with a single family home in MD. more affordable and still convenient to the city. I am a numbers person so i will definitely make sure we get positive cash flow. :) do you use a general formula or number when deciding the price to rent ratio. whats good? what not worth the time?

Thanks!! its soo much to read.