All Forum Posts by: Thembi Moyo

What locations in the US would you recommend to invest in for multi units that have (1) strong rental market (2) excellent cashflow? I'm looking to acquire one or two multi units and am interested mainly in positive cashflow.  Although I'm in CA, Im open to anywhere in the USA where the numbers make sense.

 Thanks Jeff. Do you factor any or the equity on the home currently or thats just not even taken into he equation. So the fact that the home itself is worth $70K compared to the loan of $45K should not be considered?

Thanks!

Thembi

 Thanks Brady. This note is not premium as it is a "seller finance" type situation that he wants to assign to me. Where can I get training in Notes? is there a reputable organization out there.  The note buying is definitely new territory but it seems to make sense as another source of income besides what I'm doing now.  Ill also look into notes direct by Eddie.

Thanks!

Thembi

Hi Charles, I neglected to mention that the payment I quoted of $815 actually also includes escrow.  Your points are valid and I will ask about motivation behind selling the note. One thing I did tell him was that his note is too pricy and he asked me to make him an offer so after he answers the ?s I will see if Im interested in making an offer.  If you wouldn't mind sharing your excel cal that would be awesome.

Thanks!

Thembi

Thanks Jeff. Do you factor any or the equity on the home currently or thats just not even taken into he equation. So the fact that the home itself is worth $70K compared to the loan of $45K should not be considered? 

Thanks!

Thembi

Hi BP members,

A real estate investor offered to sell me a note which he has between himself (functions as bank) and a buyer of property.  he offered to sell me the note for $45K. here are the details of the deal:

Current balance of the note is $46K with 12 years left to pay off

Int rate is 9% so would receive $815 of P&I and escrow from borrower

The value of the home (according to Zillow) is $70K.

First, what are some of the things I should make sure to consider and evaluate before making a decision on this. 

The buying of notes is fairly new to me since I'm more of a buy & hold investor.

Any advice would be greatly appreciated.

Thanks

Thanks @Julie Kern!.  If you are happy with your PM, could you message me please and I will give them a try.

Hi Everyone!

I have a townhouse in Kennesaw GA and I currently live in southern CA but need to refinance this townhouse to get a better int rate and increase my cashflows.  Does anyone have any recommendations on great lenders out there...

I've also had a property manager who charges 7% per month on rent and every time I renew they take 50% of the rent.  Is that high?  I almost feel like why haven't really done right by me as my last tenant was in my property for over 5 years and yet the rent was $400/month below market.  Yes, I feel silly to even admit that because I clearly have not been on the up and up on this property and had ben happy to just get my rents on time!

Help!

Hi everyone, my name is Thembi and I'm new to this site.  Im hoping to learn and make relationships that will help me in my goal to become a real estate investing professional!