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17 January 2025 | 4 replies
If I were to approach a seller of a $200k home, and they had a remaining mortgage of $100k, could I get a new bank financed loan for that $100k, and have the seller finance the remaining $100k of equity to me?
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15 January 2025 | 6 replies
How much do they want you to to pay, to pay off one of the mortgages (or both of their existing mortgages)?
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18 January 2025 | 15 replies
Saving $10 to miss out on proper data that leads you to a $40k deal is not worth it.
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12 January 2025 | 28 replies
Get an attorney and get these losers out then hire a property manager to properly vet any future tenants!
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23 January 2025 | 165 replies
Its a pleansant afternoon with proper ear protection :)Have you seen the ammo vending machines?
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15 January 2025 | 8 replies
Start by serving proper notice of the management change and request payment details.
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19 January 2025 | 8 replies
., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?
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20 January 2025 | 7 replies
The downside is that these types of properties come with high property values, meaning a large mortgage.
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19 January 2025 | 7 replies
Right now, the best offers around me are for some 1.3-4 million, that only generated around 100k per year gross, so there would be a high chance of not cash flowing, and paying money, especially with a commercial loan (these buildings have more than 4 units).I was thinking that although the rental itself does not generate money, I would be able to deduct the mortgage interest, and depreciation from my personal w2 income and would be net positive.
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7 January 2025 | 3 replies
I don't believe you would properly replace the debt in this situation.