All Forum Posts by: Andrew Jones

Owner financing with 30% down at around 7% on 5+units or 25% down and conventional with 4 units or less at 5.5%.

Great tip Steve. I am definitely trying to reduce all expenses. Especially since I am close to running a negative cash flow because the seller financed loan we agreed on is amortized over only 10 years.

Not me. I enjoy my career, but I want to be able to retire early and be with my family more. Over the next ten years I will be buying 2 properties a year and hopefully be able to replace my current income with passive income.

Just tried the site in your signature Marc on my iPhone and it doesn't seem to work and most websites work just fine.

I remember when I was on the county website and printed out the one page form to open an LLC. I read the $800 a year tax and threw the paper away. In my case that would be 10% of the cash flow and I don't have much equity.

If your looking to attract people with money that are not in real estate bussiness educate them. Being able to explain logically to an uneducated investor how it works is very important.

Steve- yup pnls show a yearly cost of about $150 for common area lighting.

Thank you Mariah for the update. I need to keep the importance of cash in mind. There is always another deal to be had.

Seller is using a knowledgable agent and is not an LLC. Seller is a man turning 70 soon.

I already recieved leases and pnls. Water is the only thing owner pays.

I also think this isn't a good deal. It's tough to get a decent return when buying all cash. It's better to get some financing. If you want to be really conservative put 50% down. The rates are too good to pass up. Even supposedly high rates like 7% are great IMO.