All Forum Posts by: William A.

Well someone thought this was a  deal.   I was just notified that the property is under contract. 

If anyone has any suggestions for a realtor in the Louisville market that can streamline the process as @Kenneth Mooney suggested, please let me know.

I found a duplex in my neighborhood that is selling for about 150K,  fully rented out for 1300/month.  Taxes are about 123/month.   The tenants pays all utilities.  I would be responsible for mowing/snow removal.   Any thoughts on rent income vs sales price?  Should rent be at least a certain percentage of sales price?     Any thoughts on this deal would be appreciated. 

I heard about a new hotel planned for the Highlands neighborhood in Louisville. They are seeking investors with a minimum of   $5,000.   I was wondering if any other Louisvillians have heard about this, and what they think of the concept.

http://www.wdrb.com/story/29673375/a-local-account...

Another reason for selling good property (and this is a position I am in) is to settle an estate.  I have property that is jointly held with my siblings.   We can keep the property and continue to rent it out (and split the proceeds three ways).   However, by selling the property,  and leveraging my portion of the proceeds, I anticipate being able to get a better return on investment. 

The 10 percent penalty would be enough incentive for me not to raid my 401K.   The best advice is never to touch your retirement funds.   

What I find attractive about real estate investing is being able to leverage your money.   You can put down 10 or 20 percent, and control the entire property!   You could put  down 200K on a million dollar property, and control the entire property.  All of the rent proceeds would be yours, and all the appreciation would be yours. 

In this case, you have not leveraged anything.  You would be putting down about 10 percent, and that is what you would be getting -- a 10 percent interest.   If you are going to invest in real-estate, then leverage your money!

 I would be interested in turnkey property in Portland. Please send me some information.

I contacted the department of agricultural.   They suggested that I contact a local agriculture appraiser, which I think is a very good suggestion. 

Thanks for the feedback Bob.    The farmland is all in Illinois. The land is 95% tillable land,  in which we alternate between corn and soy beans.   The land is currently rented on a year-year basis on a flat rate.  That rate has not varied in several years.

I have not contacted the county AG extension.  That sounds like a good place to start. Thanks.