All Forum Posts by: Ayodeji Kuponiyi

@Ned Carey @Troy Sheets that is very true. In the end 'profit' is the deciding factor.

So I guess it's safe to say it is better to invest in rentals in the Philly area (near universities and good neighborhoods) as oppose to the suburbs( Lansdowne, Drexel Hill, Springfiled, etc) where the taxes are ridiculous. 

@Steve Vaughan  @Steve Babiak @Kelly N. thanks guys, the tenant agreed after an unnecessary cursing and yelling on his part smh. He wanted to break the lease and I showed him on the lease it states if he breaks it, not only does he has to pay $300 but he would have to pay the reminder of rent till October (which is when his lease ends). He came to his senses and agreed.

A few months ago my tenant's mother expressed her interetst in moving into my unit (I have a duplex) when I informed her that I was looking to move out in a few months. Her lease expired and I agreed she could stay wth her son(my tenant) until I found a house. Now that I'm under contract, I  asked her if she's still interested and she said no. 

No problem, I asked her if she plans to stay downstairs or if she's looking for another place that fits her criteria. She hasn't responded to my text and this was an hour ago. My tenant pays $900 rent and if she stays I plan to increase it by $40. Am I asking too much? I pay the water bill for the duplex. Only her son is on the lease.

Any thoughts and advice are welcome.

@Nicholas Reece thanks so much for that info. Highly apperciated, thanks again. 

Cash Flow is important to me. I'm trying to figure out how to properly analyze a property but I find my big road block are: knowing the insurance price, all tax information (such as: school, property, borough/county) and mortgage payments (it seems I have to first get approved to know this). 

• It seems I have to contact insurance companies to get a quote but isn't there a way to get this information on the web with comparable prices?
• Where can I find a property tax information that shows all the taxes for a property?
• To determine mortgage payments, should I call a bank to find out what I'm approved of first and then bring up a property I'm interested in?

To analyze a deal it seems I have to reach out to get accurate or close estimates to know what I'm dealing with to determine if it's positive cash flow or negative.

Any suggestions or advice?

@Ryan Dossey Thank for the idea. I think we'll wait to save seeing how we don't have any mortgages yet. 

@Christopher Morin thanks for your input. We will talk to our lender to see what other options we have. Most likely we'll just push back the closing date. 

I need $3200 to close on home that my wife and I like. The home is a personal residence not for investing. To close we need $8550 and we have $5500. We're using FHA loan with 3.5% down. Any ideas of finding the money? Should I go to a local bank? Close friends & family are not an option for us at this point and we rather not ask. We own a duplex that has no mortgage.

@J Scott I dont have a retirement account but I do have a duplex that's has no mortgage. Should I take out what I need or find another way?