All Forum Posts by: Adam Greene

@Jerry W. Thanks. Danbury is in CT, but the deal is not. I'm from Texas originally, and my brother who still lives there is partnering with me on our residential purchases in the Greater DFW area. He found this one she was only asking 25,000 admittedly in the area it's probably only worth about 42,000 but it is in surprisingly good condition. Though exactly how good I'll wait till after the inspection to say for certain. She wanted out in a hurry so we gave her a couple of options that we would be ok with. The 17k cash or full asking price but she carries the note 22500 down and equal payments for five years till paid off.. She added the 2 percent interest, so our payments will be approx 7.50 more a month, not going to be a very good deduction :) but it's a win for all of us and that's awesome! The owner lives in Canada and doesn't want to deal with a property in Dallas, we love the idea.

Oh on a related note about 12 years ago I rented a place less than half a mile from this house while going to Bible College there. The area was far from desirable, but has been on a slow up swing for the past 10 years and my local contacts are thrilled and I shouldn't have any trouble getting renters in around 800 a month. It's still not a great area but it's not a war zone either.

Not only made an embarrassing offer yesterday, but it was accepted. Owner financing 10% down she'll carry the note with 2% APR and it fits easily in the "three" precent rule, and will be paid off in 5 years. It's a small deal but it's a couple hundred dollars a month in projected cash flow.. "So I've got that going for me."

Now perhaps is a time to try balance. I recall a story in rich dad poor dad where Robert K. wanted a 911 so he bought an asset that cash flowed added the car to the mortgage and let the property pay for his new car. Once the car was paid off he still has a cash flowing property. I know when I bought my conservative Honda Pilot, for my larger family. The option of rolling it into a refi of a property would have thrown off the numbers or I would have tried it myself.

Just finished The advanced guide to real estate investing And just started getting things done the art of stress free productivity.

I would suggest if it's a good property (house, location) make more than one offer one with traditional financing and lower total amount. Or tell them if they will carry the note you can offer them the full asking price with 10k down and payments of 533.33 a month for 10 years. If they say they want interest offer them 2 or 3%. A lot of times people won't ask for interest.

I would be willing to use them in high end homes. That being said stainless appliances don't look good if they aren't kept really clean.. Finger prints show up even from only slightly dirty hands, and the finish isn't difficult to scratch and then it is obvious when it has been. The fear of buying a relatively high end appliance only to have to replace a year or two later because it has a greater propensity to show the wear than a less expensive black or white appliance That being said if the rents justify or even require a certain lvl of finishes then that's what you put in the home. It's probably just my opinion but S/S appliances are overrated :)

CTREIA is def a great place to start. I would encourage you to be sure and listen to the podcast specifically #48 the most recent one, just be aware before you go in looking for a section 8 property they have their own set of challenges and difficulties... While they may be a perfect fit for you, go that extra step to be sure that it fits your personal investment style and can be done in such a way to minimize your own suffering / exposure. And Yes I did repeat what Karin DiMauro posted but it's good enough advice to post twice

Hmm I would like to see the ability to edit your posts added to the mobile app :)

I think I would take the same money spend it on joining a local REIA group (again don't bring your wallet to those either) You can gain a good amount of info, but you are primarily going to REIA groups for the contacts. To meet the locals and see what they are doing. Then you could also pay for a year of a Bigger Pockets Pro account. I think between the two you are more likely to make a friend who will journey with you into this vast abyss, and hopefully just for the pleasure of your company.

I was just referred to www.findtheseller.com they charge 24.99 if they find the seller. They also do bulk pricing, but you might be able to get a better deal with accurint.com I haven't used them but the lady who suggested them said she's had a lot of success - I met this lady at our local REIA group.