All Forum Posts by: Dell J.

If he is not paying his rent I definately would not enter into a seller financing situation.   

You have no obligation to sell to this guy.    I might be missing something. It sounds like you are saying that you want to evict him but if he plans to buy the house sometime in the future you will let him stay.   

You need to decide if you want to sell or rent and if you want to sell now or sell later.  It sounds like the tenant is deciding if and when you sell the house.   

Dont worry about what the tennant wants.  you need to decide what you want to do with this property

I dont do major structural or foundation issues.    Nothing super ghetto. ill be willing to entertain anything else at the right price

College is not necessity.   I found my degree to be  beneficial.   I find alot of my life experience to be beneficial to my investing journey. I wouldn't recommend that someone delay their investing in order to go to college but if you have the degree already then great.  

I have an electrical engineering degree and I do project management at work.

Save some money and then buy a multi unit house using a fha loan with 3.5% down. negotiate for the seller to pay closing cost.

Thats a way easier path than wholesaling.  its not as easy as it seems

 As far as real estate goes...

similarities - laws, rules and regulations surrounding real estate and banking are the same as the USA

differences - In the USVI there are less banking and finance options.  

Property Insurance will be higher than what your used to, property taxes will be lower

It may be more of a challenge to get comps in the USVI 

I know rich folks have been moving there because of attractive tax laws.  Not familiar with the PR real estate market. However Im in the USVI that is in a similar situation as PR

@Joe S.

What did you decide to do? or what did your pm decide to do?

12k net?  I hope your numbers account for  everything.  12K can get swallowed up quickly in a flip

if your in debt and have poor financial habits Dave Ramsey can be the best thing for you.

If you are already investing and have a higher level of financial literacy. already cash flow positive,  already have a great credit score, then Dave may not have much to offer you.

I dont hate him and i understand why people follow him.   ITs just not for me.

I think we put too much emphasis on what someone else says you should do.   ONe person would tell you dont go in debt for an investment another person would tell you the opposite.

Really, each individual needs to think for themselves.  Each individual needs to look at their investment approach and decide what is best for them and their lifestyle.   A guru cant answer that question for you