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20 March 2018 | 6 replies
I could sell one of my properties (condo) use, that money for flips in Atlanta within the next 1-2 years build up additional funds to acquire an apartment complex, and to grow my portfolio, but I want to hear from some experienced investors and what they would do if they were in a similar position.Current Picture/Portfolio: Property 1: Condo (Atlanta, GA 30328)Current Rent = $1550/MonthUtility Reimbursement = $200-300/MonthHOA $383 (In line with HOA's for other communities) Purchased June 05th, 2015 and resided in property until Jan 22nd, 2017 (Total of 1.64 Years)Lease Started Jan 23rd 2017 and Lease Ends on June 30th 2018.Current Equity 135,000 (Purchase Price) - 85,000 = $50,000Current Comps Similar Properties are selling for $155,000 to $170,000Current Mortgage Terms: 15 yr Fixed 3.325% Monthly payment of $996 (Includes Insurance and Property Taxes)Anticipated Total Earnings if Sold at End of July $64,500 (Sell Price $155K) to $78,500 (Sell Price $170K) Property 2:Town-home (Peachtree Corners, GA 30092)Current Rent = $2000-4000/Month (AirBnB) 60-70% Occupancy since November of 2017Purchased July 28th 2017 and currently residing in basement house-hacking with my younger brother.HOA $325/Month Covers, Water, Lawn Maintenance, Sewage, Security GateCurrent Equity 336,000 (Purchase Price) - 265,000 (Remaining Loan Balance) = $71,000Current Comps Similar Properties are selling for $345,000 to $360,000 due to private/public school ratings going up shortly after purchase.Current Mortgage Terms: 30 yr Fixed 4.326% Monthly payment of $1823 (Includes Insurance,PMI, and Property Taxes.)
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16 March 2018 | 5 replies
My 5 day notice is part of my lease.
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18 March 2018 | 2 replies
Any NJ investors out there who focus on Subject to, Rent to Own, Sandwich Lease??
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16 March 2018 | 1 reply
I had a difficult time myself in the past qualifying for a mortgage to purchase my primary home because of self employment.Dodd Frank is what switched many independent investors from doing traditional in-house seller financing, to doing lease options or other similar RTOs to try to get around some of the regulations.
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18 March 2018 | 3 replies
I would notify them in writing that their security deposit and lease have been transferred to the new owner.
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19 March 2018 | 11 replies
Judging how the rents are $475/month, I'm also guessing this is either a C/D area or a very small town, which may contribute to higher tenant turnover, higher lease-up times, higher possibility of missed payments, evictions, etcRepairs at 5% also seems low, especially if I'm correct about the tenant quality/neighborhood this is in.
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16 March 2018 | 9 replies
I firmly believe that this manager has a personal grudge against us as a result, and we were given a 5 day notice to vacate for violating the "noxious odor" section of the lease.
16 March 2018 | 0 replies
Got a situation with a section 8 tenantSection 8 Leases are required to incorrberate HUD-52641-A as an addendum.
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23 April 2018 | 12 replies
I have obtained control of a property by using lease options, owner finance and subject to.
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16 March 2018 | 1 reply
Should I use Craigslist/domu/apts.com or is using a leasing agent far more beneficial in a situation like this?