All Forum Posts by: Jeffery Griggs

Matthew I bet the 1350 rent is about what the PITI is on a 200k mortgage in your area. Is that correct? If so that leaves nothing for repairs, vacancies, or turnovers in the future let alone anything for cash flow. This does not appear to be a good deal as a long term hold.

You might consider cashing out while you can and looking for a better buy and hold deal.

FYI - for the profit to be tax free the property has to be your primary residence for two of the last five years. 

Good luck,

Jeff

hi Manny,

That's an interesting concept. Thank's for sharing.

Jeff

Hi Delia,

Thanks for this post. I don't know anything about them but I am looking for alternative financing as well. Hopefully you will get some feedback from the site. 

Jeff

Hi Heath,

Welcome to BP!! I recommend that you reach out to @Denise Evans https://www.biggerpockets.com/users/DeniseLEvans

This is her area of expertize. 

Good luck,

Jeff

Hi Jon,

I would be upfront with them. Tell them that you did not realize the co signers were out of state and why that concerns you. Most folks can handle it when you are honest and authentic with them. If they can't handle tbtyou are better off knowing it now. 

Just my 2 cents. 

Jeff

@Corinthus Wilson  thanks. It motivated me to start looking for those. Haven't found any near where I want to invest so far...

I love Chicago. My wife is from Palatine. 

Hi Shane,

Congrats on your first deal. Reach out to @UpenPatel. He may be able to help

https://www.biggerpockets.com/users/UpenPatel

Jef

Hi Bradford,

I have a % iinterest in a rental. That's how we do it. Its not held in a llc but not sure that would be different.

Jeff

hi Jacob,

I would recommend Investing in Duplexes, Triplexes, & Quads by Larry B. Loftis. This is a good book geared toward those multies. 

How I Turned $1000.00 into Five Million inReal estate by William Nickersonis an oldie but goodie. The real estate investment book by Gary Keller is another good nuts and bolts read. 

Hope these help,

Jeff