All Forum Posts by: Brandon Hopkins

Are you paying cash? If you're getting a loan I think they will require separate loans. $150k each or all together? You should absolutely see the inside as well as get inspections done. Never know what $10,000 repair is waiting for you. $10,000 repair on each unit? Better to have as much info up front as possible.

They wanted you to do their yard maintenance? Unless you agreed to pay to get the yard work done that is part of renting a house. With the husband deployed I understand your desire to be lenient but doesn't he earn extra pay while deployed? That extra pay could be used for things he would do while home.

It comes down to which is more important, your word or your money. Only you can answer that. I would then explain that you now have your license but if she finds any off market deals you would be interested in a fee agreement if you can make a deal.

Your real estate agent would submit the offers for you. In most cases you will submit an offer and wait a couple days to get a response. Typically you don't want more than one offer out at a time in case multiple offers get accepted.

Jon P. agreed!

I was referring to the percentage of monthly rent to purchase price. 300k purchase, $3000/month rent would be 1%, you're slightly better than that. The financing could make it a good deal however. Leaving the area will certainly cause your expenses to increase cutting into your margins.

You're at about 1% return which is a quick way to gauge a deal. The only appealing thing I see is the 5% down if that is an issue for you.

I have not used it, but heard about PayNearMe on one of the BP podcasts.

http://www.paynearme.com

I own a couple of properties in California and am ready to invest out of state. I've looked into a few different cities that would satisfy what I am looking for. My problems/questions:

1. How do I honestly get a read on the areas? Are they crime riddled? I am happy to pay extra to be in a good area with steady rents.

2. How do I find a good PM? I found what looks to be a good company in Memphis (Enterprise Property Management) but they charge a lot of fees (9%, $250 escrow, $595 leasing fee, $99 advertising, $250 lease renewal). My current PM charges a flat $70/month.

3. Who can take pictures and give me an assessment of the home including pictures? Should I look for a good RE agent or pay the PM an hourly fee?

Everything else is ready to go, just need to find the property and PM.

Thanks!

What if the employee runs the business into the ground and stops paying?