All Forum Posts by: Zachary Lowe

I have read several articles evaluating the pros and cons of buying lower end properties. In this case, I don't see it as an appreciation market. However, the numbers do meet the standards, it becomes an awesome deal to me with seller financing, just a thought. Besides, under my way of doing business with this unit I hope to change the whole neighborhood for the better. I'm making money, these people who can only afford to spend 450 a month rent still deserve a decent neighborhood to live in. They're helping me and I help back! At least this is all in theory ;-)

This isn't a post about the potential buying this property, more of an explanation of how I want to use real estate investing to help myself and those around me.

@Stephen S.

Section 8 isn't the only way votes are bought from your perspective. I don't think the Section 8 recipients would need Section 8 to vote the way they do?

"People moving out, people moving in. Why, because of the color of their skin.
Run, run, run but you sure can't hide. An eye for an eye, a tooth for a tooth.
Vote for me and I'll set you free. Rap on, brother, rap on." - The Temptations

Considering the deal because it's where I 'll be.

The city is stagnant, no worse, no better in the foreseeable future. Hard to go much further down though ;-) This building is near the hospital with several businesses across the street, not the worst area, and I figure even if it's in a bad location, if the numbers work, why not pull the trigger? Isn't a 9 CAP in a warzone as good as a 9 CAP in Hollywood?

Hello BP,

As modus operandi with my Facebook account, I have been stalking BP for a few weeks and decided to introduce myself and stop being the resident creeper, lol.

In a few months I will be moving to Meridian, MS from Virginia. I am active duty military and have new orders to the area. I have decided that the buy and hold strategy is more to my liking in the real estate world. The game plan is this: Buy a duplex/triplex using an FHA loan and living in it until I move again in three years time. Sounds so simple.... The duplex has yet to be found, I have an agent friend scouting the area for me already though. However, I have located a potential second investment property I could purchase *after finding my primary residence for me and my family*

Deal looks like this:

6 2br/ 1.5bath Unit w/ Brick Veneer Two-Story

Asking price: 171,000

Income: 2300/month

NOI:13,800

CAP: 8%

Remarks: Roof 6 yrs old, all units occupied. I would offer 140,000, building on market for 320+ days. Rent could be increased to 2550 IMO with a little elbow grease.

My worries are that this city is pretty much entirely a warzone. Crime rate is one of the highest in the nation, 6% for safety. Most if not all neighborhoods appear to be D+. I've even seen "move-in-ready" houses selling for less than 15k!!