My first deal.
Been a while since I've posted..
I'm 26, needed a place to live in right now and a place to invest in for the future.
Its a duplex in West Seneca, NY. Pretty good area, sort of on the buffalo fringe, but West Seneca... View more
50% rule usefulness with rehab projects
I understand the 50% rule and have used a variant of it before becoming a member here.
However, my question goes to the next level... What is the appropriate valuation method of a property that needs some rehab work... View more
I've found two properties within a block of each other. One is a 3bd. 2 ba. 1055 sq. ft.built in 1921, completely remodeled 8 mo.ago, new roof, vinyl siding and windows, hot water tank, kitchen, bath. carpets, paint,... View more
Subject to in Texas - Can you still??
I have someone who wants me to take over payments on a house in Texas. They are willing to leave the existing financing in place and allow me to make the payments. I know there have been different laws passed... View more
Beach condo deal possibly
Got this in my email:
I've got a great little deal on anyone looking for a cute little, ocean view, beach condo at Carolina Beach in Salty Hammocks. $60,000 UNDER tax value. Take it over with only $8000 down and... View more
Possible duplex deal
I am considering a duplex; here are the details:
good area, asking price is 96k, one half is a 2/1 rented @ 550, the other half is a 1/1 rented @ 500. Older home in good shape.
To me, its a possible deal @ 70k... View more
Pre-Foreclosure Deal with IRS lien - Advice?
I met with a guy this morning who is one month away from foreclosure auction. He has a crappy ARM loan from 2000 that he owes about $35K on at 11.95%. He also has a garbage assessment lien for $195, a lien from... View more
Possible First Deal
I just wanted to post some information here in hopes that those with more experience will help guide me in the right direction.
This is for a multi-unit property in Rochester, NY. I live in... View more
First deal analysis
This is kind of the first potential deal me and my girlfriend have run down and are trying to decide if its a "good deal." I'm just putting it out there for anyone to comment on in whatever way they see fit because I'm... View more
Offer on house
I am still in the process of waiting to close on our first house - got it for $12k - needs about $12k in work.
Now we found another house that's in an awesome location - 3 blocks from the best elementary school in town... View more
SC Purchase Option
I am posting this to get some feed back or general opinions on a couple of property listings, I have posted.
I am curious, since I feel these are very attractive deals, and I have had over 500 views of the deals, why... View more
Considering a small apartment complex
I'm evaluating a deal on a very small apartment complex. It's a five unit and the gross rents are $3,025. The desired cash flow is $400 per month (maybe I'm too low here....what are your thoughts?).
The stated... View more
Advice needed on fixing a mistake..
For the group:
I purchased a property a year ago with th help of a third party who sells fixer uppers, provides rehab, helps find tenant to lease purchase house. That... View more
Upside Down Mortgages
I have a couple of deals with upside down mortgages. Other than the following options, what can be done to assist the sellers?
... View more
Real Estate Contract Advice??
Just curious................posted on 10/15 asking for help in doing a real estate contract........
Not a single response from anyone to date? Is there no one on this site that can help-----or did I post this in the... View more
I need advice on transaction. I recently bought a home at auction. It was a great deal and in good shape. A family member was interested so I offered to sell it to them with very little profit. But we later found... View more
What are my options for condo?
I have a condo in Palm Springs. At the time I bought it last year it was a good deal; bo't for $199K, appraised at $245K. I wanted to fix and flip. But I bit off more than I could chew as I already in the middle of... View more
Up in the air - rental or flip
I know my cash flow will not be the best if we rent our first investment property but we are still thinking about it... here's the facts.
Bought it for $12k - fully remodeling it with new roof, paint, windows,... View more
Free & Clear, Help me Steer!
I've got a lady who has a property free and clear. She has a tenant in the property and that tenant wants to buy it. She says that she has been waiting on them to get a loan through the bank but their credit is shot... View more
Anyone sign-on for Investools education? Personally, I think it is pretty much a scam and is very expensive. The information from Investools can be found for free in many places. Have a friend who is looking in to it.... View more
Flip Opportunity: Current owner ran out of money...
Hopefully this is the appropriate place for this post...
I recently met an agent/investor who purchased a home in the historical part of the town I live in with plans to flip it.
... View more
Anyone sign-on for Investools education". Personally, I think it is pretty much a scam and is very expensive. The information from Investools can be found for free in many places. Have friend who is looking it to it.... View more
Discount Rate Higher for Leveraged Deals?
I am looking at two proformas for one investment and noticed the following:
1. The discount rate is 10 percent for an un-leveraged investment on the proforma and yields an IRR of 11 percent.
2. The discount rate is... View more
Rhode Island and Southeastern Mass.
I was looking at buying multiple multi families in this area, however with the credit crunch I am having an issue getting financing.
This is is really bothering me since I have paid all my bills and in full since I... View more
cash on cash rate of return
I know more it better but what are the general spreads on cash on cash return? Also what is IRR?