There is also the issue that sometimes comes up, where some tenant(s) refuse to allow anybody access to their unit (I've even seen cases where the tenant assured that by changing the lock so landlord's key no longer worked).

Originally posted by Will Barnard:....You can make 10% on your money all day long passively, so for a semi-active business (landlording), you should be expecting at least twice what you can get passively.....I hear this a lot - but personally have not found this proverbial passive 10% return device.

The reason I can wholesale it is because I locked it up under the name of a new trust, of which I have yet to form but did provide the name for it on the contract.The first party I sent it to was somebody who has cash buyers.

So the property might have a lot of initial deferred maintenance bringing the CAP down.You can always get under contract and hammer them during due diligence if you find big items.Pay attention to the leases you will inherit and see how good or bad they are and how long you are locked in.

I am not out 75 days from my closing date and my loan broker said that my 30 days lock rate today would be a 4.625%Do you guys think that a lot can happen from now until June 30th where the mortgage rates may spike.. or will probably remain stable for a few months?

For reference, my 15-year note was at 4.75% with .9% origination (locked in last week) - it probably would have been around 5.25% with .5% origination for the 30-year option.My hunch is that you're going to have a harder time on getting loan approval for the condo.

:mrgreen: :fly:Ok, I'm off to try to lock down this property I'm pursuing.

Staright option and file a notice of the option and lock it up, if you can't do that, you're wasting your time as evidenced by this result.

After my wife and I moved in we had a full blown meeting with the property manager and things have turned around in the entire complex. (2 hours)The - pool is now open and being cleaned two times a week -the whole commom area just got seeded and is starting to grow grass- the locks for the pool and community have all been changed- The lights are all getting worked on - parking and tow away signs have now been posted in spanish and englishThats just to name a few things.To answer your question Joe, I came across this deal on Craigslist.orgYour other question would the association be a good place to start yes but you have to make sure you are talking to someone who can actully give you that information, if not it will be public record and maybe you could grab the property at a tax sale just for the past due taxes, who knows you might get lucky.

Their 3rd party uses the worst lock sets and do a shotty install.