Real Estate Investor · Pasadena, CA · Member since 2008 · 17 posts · 0 votes
anyone dealt with this company? I think I heard of it through meetup. The website is at cashflowbox dot com. From the phone numbers on website, it seems based out of Las Vegas. One of the options they offer is acquiring property with private money. Comments appreciated before possibly investing.
. I actually considered working with them. This is what they do. They have networked with whole sellers in different areas to buy cheap properties. They present them to you and they get paid a referral fee. You must perform your due diligence or you will get screwed.
I ended up using a different service. They were overall more professional, interested in a long term relationship. They provided, No money down, they had a mortgage guarantee plus a rehab guarantee They use government tenants so I don't have vacancies.
[REMOVED]
I have 2 houses with them. Both positive cash flow, no issues..I even got some cash back. That was surprising. considering I didn't put any in.
The catch to the [WEBSITE REMOVED] program is you have to qualify. If you have bad credit forget it.
David,
When you say positive cashflow ... can you provide details (i.e. purchase price vs rent)? And do you use a PM as I'm assuming these properties are out of state.
Purchase Price on the first one was
$38500
but that is a fixer upper price. The rehab for the house was 42500 and then i had closing cost,hard money fees etc rolled into 1 loan. the loan was 93k
appraised for $140k
my net cashflow on that house is $245.
$900 rent.
The second one was similar...I make about $210 a month net. Sorry too lazy to type the details. :-)
I have a property management company. They do everything. Collect, coordinate repairs, primary contact for the tenant etc.
I have managed properties on my own before from afar. It's an acquired taste but def not impossible. If you want to manage out of state on your own let me know. I can give you some great tips!
There are other threads for the discussion of other companies and their programs. Please keep to the topic at hand, which is "ProperUS Real Estate Investors Network"