The "rule" of thumb strikes again!

If you can achieve those numbers that will give you a strike price and then you could make an offer about 10% below that.Also I would calculate in a CAPX of at least $250 per unit per year.What is the current Occupancy?

I've already filed for November's rent court to preemptively strike that scenario.

All of this leads me to my questions:As an experienced investor whould it strike you as odd if you got an email from a random newbie saying, "I am interested in getting into REI and saw that you own several homes.

I'm sure there are "gurus" out there that could have me doing my first deal tomorrow, but by avoiding that and striking out on my own, I think I have a pretty good grasp on different kinds of deal analysis (flip, rental, commercial, etc).

I agree its a good idea now that I'm starting to get a good number of properties.It still strikes me as annoying for such a small loan

The following line is in the listing: "Firm price on this under-priced Riverview money maker.†Bring YOUR Agent and strike a friendly deal."

Also use reinforsed strike plates and look reinforcers on the door looks.

I'm not looking to evict anyone, however there are 2 scenarios I'm concerned with: 1. the "uncle" was really letting them pay whatever whenever when he had the house, and I will expect the rent on the 1st like every regular non familial landlord 2. that the sellers "stacked the deck" with family members to drive up the price and get it rented, and once sold those family members will immediately bail giving me a 25% occ rate and a migraine:) @Adrian Tilley As far as the rest, the rents are not far off, maybe a bit on the low side, which is good for me.

As far as your home, just FYI, I'd think you could get a HELOC for 60-70% of MV done quite quickly (perhaps a week, these are retail loans done in the branch, often with no formal appraisal).Even if you were to strike a deal at $500k cash, you need to immediately start calling banks and commercial mortgage brokers to determine financing options on this property, for a future refinance, or to enable you to sell without having to take a huge cash-only discount on it.