All Forum Posts by: Account Closed

@Stephen J Davis

Where do I find a course like that?

I have my first property. I’m going to put it online “for rent” this week. Any advice on questions I should ask potential tenants?

@Will Fraser
Thanks so much for the info. This helps alot. A few questions so I know I have it all correct.

Scenario #1- He brings the cash. I take out the loan. Split the cashflow 50/50. And when he is paid back..it's up to him what happens?

Scenario #2- this seems just like a bank loan...is that true? I would pay him back plus interest and then he's out?

I have found a partner for real estate investing. Our area is rural and poor but cash flow is good. I found a foreclosed house for 39k. If we split it 50/50...I have researched and he will put in the money for closing costs, repairs, and down payment. After that we will split the NET profit 50/50. Any advice to what happens after he is paid back fully? Is the partnership "over"? It doesn't make sense to do a 30/50/50.. the only way I can make the numbers work is if we do only 50/50. I'm new at this so want to get it right. 

@Jaron Walling

Thanks! I appreciate your advice. My dad used to build houses so can do almost anything so save lots of money by having him. With the price of the house, I just want to get my foot in the door to real estate and felt this was my chance.

@Jaron Walling

Yes, I was aware. I’ll still make money off of it fixing the subfloor.

@Jaron Walling

I currently live with my boyfriend in his house - so I’ll rent the property out once I fix a few things. The foundation needs jacked up in a few rooms and will have to do the flooring.

@Will Barnard

Thank you! I really appreciate your advice. I hadn’t thought of tile yet, but that seems to be a really good option for me!

I am from a very small, and poor area. I have bought a foreclose for $19k. Probably worth at 30k. I’m a single mom on low income but save most of my money. I want to build for my future and my daughters. Any advice on how to keep going? Building? I make 2k per month and able to save around $1000 per month. I’m reading, researching and learning all that I can. I put down 5K for the house and got a bank loan for the rest. I want to keep buying and reach 10 houses in a few years!

I need to redo the floors in a foreclosure. The floor is wavy so I’ll have to redo the underneath (going under the house and fixing the foundation) and then put a floor on top. Any ideas on where and what kind of flooring to put into a rental? This is my first property. I only bought it for 19k. Want a floor to look good, last, but not put too much money in.