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3 February 2025 | 1 reply
You are definitely going to want to get a lawyer and as soon as possible.This will sound harsh.In your story, you have made a number of very poor decisions about how you purchased and managed this property.
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30 January 2025 | 6 replies
Quote from @Cameron Fowler: Hey BP Community,I am wanting to get into flipping and I have the construction experience but am lacking the cash or money to fund a deal.
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7 February 2025 | 11 replies
Sorry to hear your self managing isn't going as planned...finding good tenants is tricky!
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29 January 2025 | 20 replies
If you ever need help running numbers or managing your property.
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27 January 2025 | 12 replies
While most of his experience is with new construction rather than remodels, he’s already given me a few pointers and is looking into potential referrals for me.
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2 February 2025 | 3 replies
Hey bigger pockets, my name is Jonathan and I am looking to connect with real estate investors not just in California but all across the U.S.
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31 January 2025 | 8 replies
Use a buyer's agent that knows the market, contracts, negotiations, etc.If you really want to learn about investing, get a job in property management.
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27 January 2025 | 7 replies
Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.
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27 January 2025 | 35 replies
Im even referring their properties to my friends and I look like a fool referring people who then see a scathing post from me.PLEASE remove the post.
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2 February 2025 | 5 replies
Quote from @Themis Kosmidis: Hello everyone,My name is Themis Kosmidis and I have recently moved to the Cleveland area.