All Forum Posts by: Bil Casimir

I am helping my mom to get into investing in real estate. We have been approved by multiple local hardmoney lenders (Houston, TX) I am thinking about helping my mom obtain some type of credit lines to purchase homes then flip or rent. Is this strategy a good idea or should we consider something else? Any input or ideas would be appreciated.

Thank you guys and gals for all your replies, very helpful.

Thanks Jon.

I am about to purchase a town home to rent out. This will be my first property that I have ever rented. I am wondering do I carry the same type of insurance as I do for my home? What about home warranty insurance, is it worth it?

Thanks for your help,
Bill

Houston, Texas

Thanks guys, very helpful.

I am purchasing a town house, foreclosure move in ready condition. After running the number I show $200 per month cash flow. I calculated all monthly expenses such as taxes, monthly maintenance fee and still come out positive cash flow. My question is after I close on the property with 20% down 15,000 down with 4% percent financing, how do acquire more properties since I just spent 15,000 down? Do I refinance a year later and cash out? is there another strategy?

thank you for your input, I am purchasing from a wholesaler.

I am looking at a wholesale deal and the yearly taxes are $4500.00. When I close I would pay the prorated rate for the taxes. 4500.00/12 =375.00 x8 =$3000, for the rest of the year. Hope this makes since.

Thanks,

Money for a flip & Rehab