All Forum Posts by: Nate Atwood

thank you very much Kathy for yout time and response. We will be looking at them more this weekend. 

Alright John forgive my ignorance here. One more question for you. So if I try for, lets say a Balloon loan set for 10 years. After 10 years I need to pay the rest of the loan correct? Im guessing I try and get a 15/30 year bank loan after this. If you have time can you give me a quick run down how this might work. Thanks John

Thanks John for the reply. No a 10 year mortgage owner carry. Yeah if the rents dont go up it will be almost a push every month. If it was a bank loaned 30 year mortgage I would be bringing in around 400 but also paying forever. I see the black and white numbers dont add up and the deal doesnt look good what do other people look for on these deals. Just the black and white numbers? 

That does thank you Martin

Okay well here is my second four plex idea I’m trying/thinking to buy. There are four little houses on two tax lots. Two 2/1 and two 1/1. I get cold feet, still scared and unsure of myself so I’m turning to you guys for ideas and comments. All units being rented now but rents are low - 350, 375, 475, 475. We feel like we can get rents up to 450, 450, 600ish, and 600ish

Originally being sold for 149,900. The guy has had "cash offers" but didn’t take it.

$300 for water, $50 trash, $100 maint. I do my own maint unless something major is wrong

Give or take $2000 taxes and another $2000 insurance

Owner can carry. We are thinking 117,000 with 17% down = $19890

5% interest with a 10 year loan.

What am I missing? Where am I short? What do you think? Thanks

Okay well here is my second four plex idea I’m trying/thinking to buy. There are four little houses on two tax lots. Two 2/1 and two 1/1. I get cold feet, still scared and unsure of myself so I’m turning to you guys for ideas and comments. All units being rented now but rents are low - 350, 375, 475, 475. We feel like we can get rents up to 450, 450, 600ish, and 600ish

Originally being sold for 149,900. The guy has had "cash offers" but didn’t take it.

$300 for water, $50 trash, $100 maint. I do my own maint unless something major is wrong

Give or take $2000 taxes and another $2000 insurance

Owner can carry. We are thinking 117,000 with 17% down = $19890

5% interest with a 10 year loan.

What am I missing? Where am I short? What do you think? Thanks

I have a four plex and want to pick people's brains on if I should try and buy another rental or just pay this one off