14 December 2007 | 11 replies
(This means that if they do find a buyer in the future, then you have a right to match the offer and buy the building.)Negatives for you:Price may be higher in the future.You may not be able to buy that building in the future.Positives for owners:The owners will have a building worth more because it is performing.The owners will be making money monthly, instead of losing it.Negatives for owners:They lose the chance to matket for owner users.They may not want to deal with negotiating and managing a lease.Option 2:See if the owners will finance some or all of the sale to you.Positives for you:You get the building now.Negatives for you:It will likely be more expensive than a bank loan.
21 February 2014 | 2 replies
The manner in which this is structured the broker is giving you back $5,419.13, that is why the number is negative.
18 February 2014 | 0 replies
Vacancy rate is 17%3. middle to low class income area4. mostly retired people.Based on this information my options are:A. to purchase 2 manufactured 3/2 homes (one for each lot at a cost of $39k each) to re-sale for $80k each (after selling and other cost) I estimated a $40k profit. the negative part of this option is that based on my research, manufactured homes may not sale for that high in this area.B. to purchase 2 mobile homes for $5k to $10k each and resale at cost just to recuperate the $30k of the land, cost of Mobil homes and any other cost.C. will be to do option A but to rent each for $500 to $600 per month based on what I can get for Section 8 in that area.Please let me know what you think or if you will consider another option.Additional facts:1. this will not be a 1031 or like kind exchange (based on IRS info)2.
18 February 2014 | 10 replies
At a $125k ARV, I only see $15k at best in profit.
23 March 2015 | 73 replies
This is all quite an interesting topic to me.I just did the math, and if I were to apply the 50% rule(to account for PM I currently do myself), and assume returns equal to the measly two single families I have now (which actually do very well, so I probably should not assume that), then to get to $1000 a day I only need......um......41 more houses.
23 February 2015 | 48 replies
That is a huge difference than in 2008 when most homes had loans (most interest only), and had higher rates, and were losing money every month due to the negative cash flow the properties were creating back then because everyone was playing the appreciation game.
22 February 2014 | 34 replies
I only have issues against stereotypes, such as women who have a purse full of cash must be strippers, or that men who have a briefcase full of cash must be in the mob (or any stereotype).Actually my comment was that she was throwing money at the house...which in turn makes the house the stripper and the woman with a purse full of cash a patron of the the stripper.I have issues against stereotypes too, such as a woman with a purse full of cash couldn't possibly be soliciting a stripper but would themselves have to be one.Perhaps the houses' name is Bob, and perhaps dancing makes him feel pretty.In all seriousness no matter how you read it, it was poking fun of an obvious stereotype, not jabbing at a woman's right to bear cash.
18 February 2014 | 5 replies
On the negative end, you run the risk that your tenant prefers to live with seemingly minor issues (e.g. pipe leaks) rather than call you to have an appropriate repair accomplished, in which case you could end up with extensive (and expensive) longer-term repair costs, such as water damage.I'm interested in some sage advice from those of you having experience applying a tenant deductible...good or bad.
20 February 2014 | 18 replies
I foreclosed on my house because it was on the market in Detroit for 2+ years without a bite, serious negative equity, and a bank that refused to short sale, so I left.
21 February 2014 | 2 replies
If not, then it doesn't matter what you'll mark the price up to because you don't have to worry about negative feelings from them.