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9 September 2017 | 5 replies
I am also thinking of using it for a couple of properties on my own too (duplexes) for the DTI issue mainlyWe are getting loans in the low 5% range with 25 year amortization and a 10 year lock.
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10 September 2017 | 5 replies
I'd like to get some honest opinions on seeking out some advice to see what seasoned vets think I should do.
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9 September 2017 | 2 replies
It has tenants, I have had one month of vacancy since 2012, I would prefer to sell it without an agent, however I worry that there will be dozens of investors wanting to walk through the place, disturbing my tenants, making them antsy and the investors then low ball or otherwise do not generate reasonable offers.What is the best strategy for making sure the potential buyers are serious before letting them in?
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8 October 2017 | 4 replies
One way or another, and if nothing else, someone has to evaluate the property as to the probable cost to bring it to an after-repair-value that matches the surrounding market's fair market value for comparable properties - before ever offering to buy it at "such a ridiculously low price" (as the seller will term your offer at first), let alone, before offering to sell it at "wholesale" to your buyer (i.e., so far below fair market price at retail that the repairs can be covered as well as your profit and the flipper's profit in its eventual retail sale -- or 'buy-and-hold-to-rent-out'er's profit before they would expect to get it rented -- plus the title search, closing, and any tax costs related to your purchase from the seller (usually split somehow) - and finally, the title search, closing, and any tax cost split with whoever buys it from you.Now, that someone could be you (you do trust you and your repair-estimate abilities, don't you?)
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13 September 2017 | 14 replies
I'm looking at rents of $4750, which are low.
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3 October 2017 | 10 replies
Just to play Devil's Advocate, are you confident in vacancy being that low?
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9 September 2017 | 0 replies
I am almost certain my offer will be declined but since the house has been on the market for over 90 days in a region that most houses sell in less than a month I took a shot at a low ball offer.
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10 September 2017 | 5 replies
As you can imagine the low fee listing companies want easy buyers and to do volume to make any kind of return.
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11 September 2017 | 7 replies
Additionally, the market is reaching the slower season so the anticipated rent has been slashed dramatically.Current:Price: 153k ($42k into deal)Anticipated rent: $1,650/monthOperating expenses: $8.5k / year (includes management, cap ex, vacancy, taxes, insurance, etc.)Cashflow: $2k / yearCash on Cash return: 5%So what would you do?
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17 September 2017 | 20 replies
Assuming you agree with that statement, then you would be buying at the top of the market, which would be exactly the opposite of the saying, "Buy low, sell high", but you have the convenience of potentially waiting out the coming correction and earning some good money on your property while having your tenants pay down your mortgage for you.