All Forum Posts by: Ray Dixon

Im also seeing a major slow up in REOs. The banks are holding properties to try and control an already depressed market. If they open the flood gates with these properties it will only lower the values of the current properties that are trying to be sold on the market. Great for investors bad for the banks!!

I have heard from of few seasoned investors that i should try to stay away from properties that are 15 years or older unless the property has been previously renovated. My game plan is to hold and rent and with that i was told older properties tend to have a lot more maintenance issues and that will ultimately eat my cash flow. Any thoughts?

SO let me make sure im understanding this right. If i pay 70,000 for a property that i want to rent out using the 2% rule the monthly rent should be $1,400. So now my question is what if the the going rental rates in that area for rent is 1,000 a month for that property. Does that mean i would have over paid for that property?

Should the 2% rule be applied when your purchasing a property with ALL Cash????

Hello Everyone!!! I wanted to ask the BP world a question.

Are there any investors out there that are investing in town homes and if so are you having success doing it? If so what are some pointers you can give me. Im looking at a few to invest in as long term rentals. Thanks

Let me also state that the town home was bank owned and sold for $225,000 in 2006. It was built in 2005. I do plan on holding this town home for a while maybe 8 to 10 years.

sure the numbers are as follows:

$250 Hoa Fee a month

$130 Monthly for taxes

$60 Monthly for Insurance

I will charge 1,060 a month for rent there for leaving a profit of $620

Hello everyone, i found a townhome 3 bed room 3 bath 1 car garage for 78,000. I will pay cash for it so there will be no loans involved. After sitting down and doing the numbers hoa fees, insurance, taxes, I would net a profit of 620 dollars a month. I wanted to know do you guys think 620 dollars a month is a good return on a 78,000 investment???

HI there does anyone know how much liability insurance is deemed enough when using it for a rental property?? Is there anything special i need to know about purchasing insurance for a rental property?

I recently have came across a 1 bedroom 1 bath condo 900 sqft in excellent condition. Forclosure and its priced really low. The Hoa fees are 110 bucks a month which is extremely low. The cash flow on this property will be excellent. I want to use this property as a rental but im a bit worried because its a 1 bed room and im concerned about finding a renter. i would like to know what you guys think. should i look into it or keep on moving to another property?