Updated over 12 years ago on . Most recent reply
New: Central, MA Area
Hello All!
My name is Mike Hoefling and I am newer to the Central, MA area. I recently moved from the midwest (Kansas City, MO) to central, ma for a new job and became an accidental landlord you could say. In Kansas City, MO I own a single family home that I rent out and it needs some TLC so its good that I have my neighbor (property manager) to take care of all of it. My next adventure is buying a 4 unit multifamily that I will be closing on in the next few weeks.
I hope to continure investing but I am having trouble trying to figure out what to do with my single family investment in Kansas City, MO. Do I keep it and invest more into the property trying to make it generate psoitive cash flow (it has negative cash flow now) or do I fix it up and try to sell it. Anyways I do not expect to anwser those questions now, just a few things I have been thinking about that is why I am here, to learn.
Mike
Most Popular Reply
Mike Hoefling
Hey welcome! I am from Arlington Ma., live in California now.
My advice, have the renter fill out a 1003 mortg qual and get them to a licensed mortg broker.
http://www.biggerpockets.com/files/user/REISkills
See the Mortg App there.
Lease Purchase is a maybe end result to low income renters. If you really want to get it sold, have a before picture for that renter re mortg financing.
Have the renter fill out the app and see a licensed mortg broker.
And..... Go Sox and Pats!