All Forum Posts by: Brandon Duff

I don't think it's worth it... Over the course of the loan it comes out to about 195k if I don't pay it off early... 

I am going to stick being a buy and hold investor vs the easy way out. 

I just recently bought a property for 118k with a 30 year mortgage.

I was approached by an "Investor" who is looking to purchase my house for my asking price.

I think we call this Wholetailing? Where I bought it and sell it as is.

Anyways.. 

The Terms:

40K down (cash) with $900  a month for the length of Paying it back and no interest

My mortgage on the property is $540 for 30 Years @4.3%

My numbers show it will take 11 years to pay me back on his loan.

So I will be cashing flowing  $360 a month for 11 years.. 

Then I would have to pay 529 for the next 20 years.

or

My Mortgage loan is 89k I put the 40k Towards the house  and Cashflow for $360k a month for 4.5 Years and then cashflow 900 for another 6.5 Years, No Tentants, no turn over costs and no filling vacancies. 

( This property is out of state)

Ideas? Should I do this?

If I should.. how do I move forward with this to protect myself.

obviously I would love to invest in place like Tennessee  which can easily cash flow for 200 a month.. but its much further away.. 

Hello, 

My future father in law bought a property in 93 which is an 8-plex in LA for around 300,000

He owns his own home currently ( beautiful home)

and owns a rental also ( I don't know when he purchased this)

He also has a real estate license ( he isn't an active realtor, he is retired and just invest in stocks now)

He believe california for the place to purchase property because you can see and feel it.

I am trying to convince him that just because its out of state, doesn't mean it can't be successful.

He says that unemployment is higher than anywhere else in the USA

California and Nevada are both around 6.7-7.1% 

He says thats because obviously the population is much higher in california so its not comparison 

He believe with the indian reservations in california, it will turn vegas the unpopular place to gamble and all of the las vegas community is fueled by gambling and entertainment. 

If we go into a recession then obviously people will move from there just like what happen with the last recession.

Are their business big businesses moving to Nevada to help fix this issue?

I know Tesla is moving here, but northern nevada, will that help Las Vegas with growth potential.

He mentioned that most investors are going to Texas, which I know many of my clients invest there..but that kinda goes against his argument with seeing and feeling. I can easily make a trip to vega.... Texas not so much.

He also mentioned that with all the building out in vegas it will make homes like the one I'm interested in become  "The Ghetto"

How is sunrise manor near el dorado park? 

Is it the Ghetto?

Would it be considered A.B,C ? or even D? Class

Is there anything I have to fight my case or is this a lost cause?

Any Articles that can help me? Ive linked him a few but he says they are bias because they are Nevada written. 

@Micah Copeland

You mentioned the 1% rule of thumb.. not the end all..

If I did my calculations right.. It should cash-flow $154 a month after all expenses. 

10% of 1000 = 100 a month for Repairs

10% of 1000 = 100 a month for Cap Ex

Property Tax: 750 a year

Insurance: 300 a year

Morage with PITI = $510 @ 4%

If we follow the 50% rule.. Its about 1000 *.5 = 500 - mortgage which is (- $100) 

Another rule of thumb

I ran the numbers and this is what I put 10% vacancy rate ( I put it high, i think its closer to 7)

thanks for the info! 

Hello! 

So I have my first property in escrow which is a SFH, it's cash flowing about $154 a month.

No HOAs so no surprises :-) 

So once this property closes my friend/client says he will PM for me. ( he flips houses in the area) ( I am an out of state investor ) 

He drives to california every week to workout with me.  

Should I have him look over my property and then down the road look over multiple properties or just hire a PM company ( he would charge me less and I know he would be on top of the stuff)

My goal is to get into two properties this year before me and my fiancee get married. Is it best to put the properties in a trust even with one property or wait for more? I love my fiancée very much and she is an amazing person but since I will be the sole purchaser of these properties, I want to protect them or if I were to ever get sued. 

also.. It's might be 150 cash flow, but you ask gain equaity and right off the interest 

I am looking at doing buy and hold properties because I have my own career and use it as a passive income down the line.flipping houses repairs rehab knowledge and you to be onsite, or hiring others to do the rehab work and you lose some profit.