My realtor suggested offering it amortized over 30 years with a 15 year balloon, as that what she sees her other investors doing: focus on the cash flow, then when the 15 years is up, do a cash out refi, exchange, or sell to move into something bigger or better.

We sold one property this year where we wrapped the 4% mortgage note into a 10% note and as a result are enjoying a 17% annual ROI for a minimum of 2 years and possibly as long as 10 years if the borrower/buyer does not pay us off early.After 40+ years of real estate investing, in many different markets across the country during many different economic climates, both in residential and (primarily) in commercial, I can tell you that hard and fast “rules” should be constantly evaluated to see if they are limiting the opportunity to “jump start” your wealth building.   

We have a property that we lived in within the past five years that we turned into a rental property. 

You may ask for a claims letter from their insurance provider for the last 3 years to show any claims they may have / or not made on the property.  

In our budget, we have a contingency of 2 months' worth of mortgage and utilities accounted for.We have another LTR thats been a breeze to manage for over 6 years buts its only 2 adults living in it they have really taken of the home for us...Thank you!

are you a licensed foreclosure consultant or just looking to buy properties pre foreclosure ?? 

Thanks Ned, Short answer to explain it, I did not know they were around back then, just found out now when we are coming back, a little background, when I started in 2005, I was a child :) 28 years old and thought I knew it all, all, all :), did not know about hard money lending, only new about bank loans, and Home equity lines of credit, did not know where to find more money, since I did not have much, I would rely on what I could get from banks, loans, credit cards and was not always that great, it was a learning experience.....and Wholesalers, I did not know that even existed, everything I would find back then was already on the market and through a "friend" agent, MLS, FMLS and all those, nothing like what we have today.

However, having an organized set of books in QuickBooks will allow you to more easily answer questions outside of your day-to-day operations, like "how much will I owe in taxes this year?"

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

I'm Evan Young, a 21-year-old senior at Indiana University.