Hi All, I need some serious advise. I am in contract with a 4-plex in San Jose, CA.,great location, location, well kept property. The owner was a do-it-yourself guy and performed a lot of upgrades like kitchen count...

The first thing you need to understand is the outstanding mortgage balance and any additional liens or late fees.At that point there are two main options:1.

Additionally, a mortgage broker I worked with previously suggested that before applying for a mortgage that I try to not have any other outstanding loans since the loan to debt ratio would hurt my chances of being approved for a larger amount, is there any accuracy to this?

House in built in 2015 in a great area next to Lewisville lake with a highway within 1 mile of the property… perfect for a rental.

I would rather give an outstanding reccomendation to the place they go next!

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They included:-she was so upset with MW, she didn't want to pay any rent as the furnace wasn't working-she ended up paying $800 for November after the furnace was fixed (we had agreed to this due to the inconvenience of the furnace)-she got COVID and lost her job-tenant missed three months of rent-tenant wanted to stay and agreed to pay $1300/month until she was caught up-tenant pays $1300 in March 2021-tenant pays $1200 in late April 2021 (if I remember the date correctly)-I never see another dime of rent-tenant eventually leaves (I forget if it was the $250 I offered her for the keys or Saunya's threats of evicting her)-tenant has close to a $3,000 water bill that was outstanding!

I’m gonna pull out some Kenny Loggins here and badly sing “Highway to the DANGER ZONE”.

Great highway access, close to plaza/downtown/ class A businesses close by. 

I enjoy finding RE that produces outstanding return.