All Forum Posts by: Paul Jamgotch

You should net $750/month, $9000/year. at 10-11% cap your rented duplex will be valued at about $80k-$90k +/-. Personally, I would require an 11% cap or more. Of course, some areas garner lower caps. 

@Stephanie W. 

is section 8 the only market? How do you assure they are 'quality' tenants. If you have a blog or something that discusses finding such tenants I would appreciate seeing it. My section 8 experience was not so good.  Thx and good luck.

found in his other posts: 786 fox gaylord, mi.

Welcome to BP!

Hi @John Paul Riturban 

What about zero fico with good income verification? What is minimum loan amount?

Thank you.

Thanks for the info, @Loren Whitney 

The problem I run into personally is that I am not classified as an 'accredited investor'.  Therefore, its been difficult for me to find a CF portal that I can work with.

Looking for those that looked into or have used thecrowdfundingira.com. I have an SDIRA with IRA Services but have not had luck finding out info on this site. Their calls seam to be answered by a service and there is supposedly only one person there who can answer questions. That one person has been difficult to track down and I would rather hear from actual users if there are any. Thanks.

experience*. I love this site :)

@Shawn Duncan 

How many homes are involved to get you to $80K? What would conservative LTV be on $80K note? How do you plan to cash investor out in one year? Do you plan to sign a one-year 1st or require longer term on the note(s)?

Thanks and GL

@Shane Davis 

Hi Shane. FYI, 7/9/14 REI meeting at 44th street BWW:

http://www.meetup.com/WestMichiganREIClub/events/191805632/

@Marshall Downs 

I would think 12% would be attractive enough to a PML unless they were 100% exposed. How much are you putting down? Would current owner take a $15-20K 2nd? As you know, $116k @ 12% is about $1400/mo. debt service. Would this deal be worth only $700/month to you?

Also, can a non-licensed person legally loan you more than 11% in Michigan? Same question for balloon payment?  Good luck.