It is 2 bed/1.5 bath with extra room and one 2/1 with extra "room".

It is 2 bed/1.5 bath with extra room and one 2/1 with extra "room".

Generally speaking, one month's rent for the entire building is good enough reserves to pay for maintenance issues that may arise.If you want to be extra safe (i.e. for tenants that don't pay rent, or for vacancies that you cannot immediately fill) then try to have 2 months' worth off rent saved up in your account.I would also advise that you set up a company to manage your business (most go with LLC's).

As long as the yard looks nice (trimmed) and clean there is no need to spend extra money on these type of things when you are going to sell.If the house is old and is wood - adding siding can make it look tremendously better and raise the value significantly.Do you have any ideas that you are concerned about?

There are many on BP that try to reply to questions and add info as time permits.

What we are doing out here in california is the following Model:1) purchase a Home either Trustee Sale or REO A) 2 Beds 1 Bath B) 750 -1100 Sq Ft Living Space C) 7000 Minimum Lot Size2) I have a contractor that will add 2 Beds and 1 bath and 1 Patiofor the low--Low--Price of 50K (In California that's cheap).3) Sell it Just under Market Value for a house that size and if they use my mortgage guy I will Pay ALL Closing Costs.EX: Property Purchased at Trustee Sale = 300,000Add 2 beds 1 bath 1 Patio + Permits = 55,000Sell for Market Value 525,000Pay Closing Costs @ 5% 26,250Make Profit of: 143,750Not bad for a 5 months Work.Joseph

If the investor has good credit, MBNA and some simular banks will give unsecured lines of credit up to 50 or 80 thousand.The trick is to find homes with enough equity to not only get your initial investment back, but to make 5 to 10 grand extra on each deal, and working with a mortgage person that specializes in investment property financing.AJ [email protected]

Developer seeking subdivisions with permits and approvals, High end homes between $1,7 million and above. needed Land for Residential Huntington, Northport, Dix Hills, Eastport, Laurelton Contact R.

It seems fair since showing the property, screening applicants, back-round checks etc, taking pictures and documenting move in conditions, and after move in inspection all take extra time.

In turn I assume that you're going to take this extra cash and re-invest it in something that will earn you market ROI (in my example it was 10%).