All Forum Posts by: Alexander Felice

between potentially losing this rent, and the (retail) cost to reverse the changes it looks like you're going to be over the security deposit anyway. Time to get them out asap and see after the fallout if it's worth a court case or not. Need to get them out to stop the bleeding though immediately.

It all comes down to the calorie/pound/dollar obviously Jay

replied. 

Lucas is right though, you have to give it more than an hour ;) 

1. if you live in the town you're investing in, you should know a good deal about it. Drive around, look at houses, talk to people at the city if you can, talk to builders, talk to investors. Find deals in town and run the numbers on them, find out what a good deal in your town looks like. analyze 5+ deals per day. When you pull the trigger you don't want to hope it's a good deal you want to KNOW. 

2. hard to say without more data. Are you making money on it? what are expenses, cash flows, Cash-on-cash?

3. listen to all the BP podcasts and hang out on the site a bit. At the end of every podcast (and throughout) they will recommend books for you to read. Before you know it you'll have more information than you can possibly use 

rent to own can be a good program for people who want to own a house but can't qualify for a traditional mortgage.

I personally don't recommend it. You don't build equity, you don't get the tax benefits, and you pay a higher rate. That said, for many people it's an option to purchase when they have no other options. 

If you're looking to invest, it's not for that. For people who desire to simply own their own home someday but have poor credit, it provides them opportunity. For reference, rent to own is a really good strategy if you're the owner.... 

That would scare me personally. Many churches are designed to look like churches, so while you can call it something else, it looks like a church.

So, assuming you want to own a church, how profitable is that? Well, statistics show that people are leaving not only church, but religion, in record numbers. Religion is a dying industry. 

As @Micki M. mentioned, I think you would have to be able to afford to convert it to something else for it to be profitable.

The more you invest, the more you can make. 

beau based on the information you provided you should definitely rent. 

Problem with your plan is that you are banking on appreciation to continue doing business. You can't plan on that. Use the cash flow, take your time, or find creative ways to finance. Appreciation can't be your only strategy friend. 

I would pass. 

You're emotional about the potential tenant. You said flat out that they don't meet your requirements. Sure they are nice, and yeah you def need someone in the unit, but taking the wrong tenant will lead to more headaches down the road. not worth it.