All Forum Posts by: Benjamin Robinson

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $160,000
Cash invested: $5,000

Fiance property. Rented and cash flowing about 600 a month

What made you interested in investing in this type of deal?

To be honest, it was the girl ;)

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $225,000
Cash invested: $500

The second house, waiting to move to rent out.

What made you interested in investing in this type of deal?

Primary residence

How did you find this deal and how did you negotiate it?

MLS, typical buy

How did you finance this deal?

FHA

How did you add value to the deal?

Buying in Colorado Springs hahaha

What was the outcome?

100k equity in a year, no renovation.

Lessons learned? Challenges?

Buy in strong markets, that is growing rapidly, and grow with the equity.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, Nathan Johnson with REMAX, The Nathan Johnson Team.

What would be some important documents to ask for a deal that is already an apartment building, with tenants, that say they make a certain amount in a year? What are the technical terms for:

how much do they get for rent?
way to disclose how many tenants?
any renovations, and when?
A way to know how much the property cost? 
Or any other important ones?

Or are these all things you must research on your own? Any books that touch on this or post that you could direct me to would be awesome, or if you have the answers yourself and want to chime in I would greatly appreciate it! Thanks, BP!

I also have been wonder how you structure a partnership. I was wanting to run the properties, another would bring some money, and another would have the knowledge of fixing, we would all pitch in for the work to be done on the properties... just have no clue on how to split, or if 33.3% each is the only way? 

Capital gains tax is something that confuses me still though…

5-6 years I think for the tax question

I am in the same boat as you brother! I am in colorado springs and my house is worth 300k now. i owe 220k on it, but could get a 30k heloc, or sell for 40k... i would only cash flow probably 500 but after the heloc it would be more like 300... but I too have 28 years left... I want to buy in my home town market, which is considerably cheaper... Just a lot of options! haha

Well if anyone anyone would be interested further just Inbox me, this may be too much for a first timer, but it is definitely something very interesting!

Or is there a podcast about this sort of thing? Thanks

Thank you! Would it matter that this is a old mansion and converted, as far as getting a traditional 30 year? Or would I have to go commercial since it is a nine unit place? Thank you for the information!