All Forum Posts by: Zachary R Sink

Hello Brandon,

I live in VA. I've been looking for properties in Florida. Mainly in the Orlando and Tampa area. Multi-family properties have exploded in price. There are few areas around Orlando where the prices are relatively low compared to the Tampa market. I think most of those properties are going to be in the 200-300 range. I see you mentioned a using an FHA loan. I think it would be tough to get a fha loan on a fixer. Have you looked at conventional loans. If you plan on living in the property you can get a loan with 5-10% down. Try to find a wholesaler in Florida to see you can find some better deals.

Hey,

I have run into a problem with selling some of my grandfather's property from the estate.  My grandfather passed away in Feb..  My grandfather is married, but separated. Properties are located in Virginia.  My mother and I were the heirs to the estate. His wife is not listed in the will.  We are trying to close on a property. The title company stated, that they wants my mom, me and his wife to sign off on the property.  Our problem is his wife has not contacted or made attempt to my knowledge to contest the will.  If we would bring her into close the deal, would she be entitled to the property, or even the remaining properties?   We want to honor my grandfather's wishes, his wife is also has a higher net worth.

To add: He acquired these properties before they were married.

Please any help on this would be great!!!

okay thank you very much.

Dale

You mentioned Memphis and turnkey properties. What kind of cash flow are we talking about. 

Again, I appreciate all the advice.

Cody L. You mentioned private money to get the remaining 90%. Surprised sellers? What do you mean get the seller to carry the down payment?

I think I could raise the debt. I spoke with the listing agent she said some of the rents are higher than 700.

To add I could come up with at least half of the down payment, as we speak. I'm having trouble with the other half.  

There are 3 fourplex houses, with separate tax ids.  They are listed at 300k a piece. I contacted the listing agent, she stated that the seller is willing to sell @ bundled price. She did not state how big of discount, I'd figure 825000-850000. All units are rented, 12 units renting for 700 a piece.  totaling 8400 gross income.  They were built in 1972, and they are fully rented. I figured with 20 percent down it is about 170000. I need some ways to come up with that down payment. Buying with Terms are out of question. 

I'm new to REI. I'm looking to get more information regarding contracts and assignment contracts. How can I obtain a copy of these contracts. What are some process in obtaining contracts, then assigning them to a buyer? Marketing cost? What is the best way to start?

thank you that is really helpful.