All Forum Posts by: Emad Khaz

thanks Ned , i put down my brother as my first renter since we had to remodel some things in the house.. it worked out good , now we have a "hopefully" a long time renter in ....

So i finally got my 1st rental property , i used a small bank to fund the deal after my mega bank refused to fund it ( too small for them) ,,

i did not read or heard this before till about to close on the deal . since it's a rental property i had to show my insurance a signed lease for the property before i closed on it ..they will not insure a vacant home ..and my bank will not close the deal till i did that ...

is this a insurance company thing or that's the standard

Three houses three different cities

hello everyone ,

so there is a investor selling 3 properties that are occupied by tenants . 3B/1b homes asking  $53k-$40k-$42k ( rents are 850-750-775) .. would a bank issue one mortgage for all 3 ?? any input or past experience would be appreciated.

thank you 

thanks for the input Robert 

what is your advice on partnering with a really good handy man/friend, the most fair way to split the profit if it was a flip .  .. he can do all the work on a property (he pays nothing,just labor ) ..so i pay for all the cost , he does the work ..we sell the house with 60k profit-net after paying all expenses (just an example) , how do u split that 60k ? 

and how about rental property ? if he rehab the house and i rent it ?

thank you all

This a follow up question to the main topic , do you guys try to pay down all the mortgages on your properties with the cash flow dollars or keep as liquid cash for the next purchase ? 

example - if i have a $400 cash flow from a rental , would you pay it on that property mortgage as an extra principle payment ?

thanks for your input. 

Any input on getting loans sub 50k ? i spoke to my bank , they have a minimum of 70k with %20 down limit , this is a bit high for rental purchase ,or is it Not ? is online banking a good choice ? i don't belong to credit union  .

thanks

newbie here highly motivated to learn and start investing in real estate..mainly on the side lines reading and listening now to the ones who made it ..in the metro Detroit area suburbs where I'm planning to grow ...so thank you in advance for all the help and advice that you may give me ...