Edging will kick your *** - your back and your hamstrings will scream.

Originally posted by @Kate Weinberg:Just a word of caution about Auction.com deals...sounds like @Caleb Rigby found a great one and it turned out fabulous.  

Kate

So now, the landlord's get the $750 and send my parents a $150 check at the first of the month.The numbers just scream at me that this is a killer deal, the house will pay for itself in less than 3 years and they were asking $20k almost a year ago.

at $150,000 you'd have to factor in utilities, taxes, maintenance, insurance as well so and deduct from total income of $33,000 so the NOI would be around $10,700 and then you have debt service at $9300 so $1200 cashflow if everything goes well.If you push rents to market and get $5200 a month in rents then its NOI goes to around $32,300 which becomes a screaming good deal with a 21.5 Cap and 65%COC.

If they bought when the market was sinking like me- they were out on a limb  because no one was buying - my friends were screaming I was crazy but I just focused on cash flow and didn't worry whether the market would go down further or if I'd go under water because I was making ok money with the rent. 

AND- can the land lord scream outside to passerby people, and neighbors that the tenant has damaged the apartment?  

I let my fantastic realtor  (Kate Tyler Hayes) know that I wasn't going to give up so easily on this deal. 

Hi, I just received a phone call from one of my tenants in a duplex that she had to call the cops on the other tenant in the duplex because he was up all night banging on the walls and screaming.

Not likely interested in anything in the 46806, 46807, 46808, Southside, Wayndale, etc...) unless it's a screaming deal.