He would not have any time to invest in the acquisition, mangement, etc. but he has the capital to buy a property.

Finally got notification the bank has accepted another offer, agent emailed and asked if I wanted to be put into a backup position, I said sure...asked if I need to modify the contract to include a backup contract addendum he said no, he would "make a note".Oh well, next!

It was never our intention to initially fund the company with unequal capital, but use additional capital only as needed to fund acquisitions at closing.

They'd hand the filled out info sheet over to the acquisitions dept(me for now) and I'd take over.

(I hope I am posting this in the right area) It has always been a lifelong dream of mine to own rental property, and I am finally ready to take the plunge!

I am curious about the final selling price and DOM.

Finally, take your numbers a build a pro forma that projects the overall performance going out at least five years.

For rents around $500, there is a quick and dirty rule of thumb called the "2% rule" - rents should be 2% of acquisition costs.

I know the feeling, I held out as long as I could, then finally snapped one with my phone!

We finally got it zoned to do the 2 units as several spoke up saying that in this community most tenants are in good standing with their landlords and our local officer on the board spoke up on our behalf saying he wished there were more landlords like us in town.