All Forum Posts by: Toby Russell

Good morning to everyone in the BP world. I'm wondering if anyone has ever made flyers for homes that look in destress or abandoned to hand out. I'm looking for only owner finance homes being that I'm starting out and want to keep it from the banks view. Does anyone have suggestions for pictures or templates of what they made? Thanks

Good morning to everyone in the BP world. My name is Toby Ruussell from Thomasville North Carolina. I've been on here a few months now asking questions and reading and of course listening to the BP podcast. I know I'm not, but being 32 I feel like I'm behind and need to be aggressive to catch up in the real estate world. I'm in the process of doing my first deal on a condo in my local area. If I figured it all right should cash flow just over $300. I have a local busses owner I've been talking to as a mentor and asking questions. Seem most people I've seen on here are in Charlotte area and not mine so any help is much appreciated. Thanks everyone.

The main thing I want to know is if there's anything special I need to do to be able to write some of this stuff off when it comes tax season

I'm in the process of purchasing a condo for rental. But down the line I want to purchase several. For tax purposes is it required to have an LLC or similar to right off business expenses or can your average citizen do that?

Looking at a few investment properties and the owner might offer owner finance but I'm a little worried I could get scammed some how. I'm not sure of the terms yet but does anyone have any tips on things I should look for in the terms/deal or and things I should ask to add to the deal. Currently asking 34,000 on a tax value home of 64,000.

There's been a few houses come up lately around me that look pretty good for a rental and great price. Only problem is the siding is asbestos. 😱. Anyone got suggestions for these older homes with this stuff? Can vinyl be put over it or is it just a problem waiting to happen?

Great replys guys. Yeah I guess it depend how long you'll be paying on that extra 5% but hopefully my tenant will be paying it for me. Very interesting case to bring up to see if it's an option @Caleb Heimsoth at my lender. Who did you go through for that loan?

hey @Bob Okenwa my credit was 780 probably down a little from a recent loan. House app around here is 3-4% and I'm looking to rent the property with good cash flow. Only looking at houses in the 30-50,000 range so I'm thinking PMI wouldn't be much

Looking at different lender and most are 20%. Everyone know that but I found one that is 15% down but with PMI Insurrance. How do the numbers workout when PMI is factored in? Which is better

I think I get what your saying @Cody L.  I've been thinking the same thing. It's more of a basic ratio. Cost/rent. Once you got one that  works with all th numbers that same acquisition cost/rent ratio should work the same