All Forum Posts by: Brian Johnson

What about the screening service Biggerpockets has in the resource tab? 

I will give it a try first.  The format seems very simple and based on this site I am sure I will like it.

Perhaps maybe look for a rent to own from a landlord.  Try to find a property that rents close to 1% of value.  

Example.  If you are paying $700.00 a month for rent.  Try and find the asking price $70,000 or less.

I will have to look at the myrental.com

Thanks

looks like you have owned it for some time.  Leaves are still on the trees.

I don't want to deal with low income areas.  Did that and don't like the chasing money around along with all the other drama that goes with low income.  

i like the idea of condos for rent for the time we are still living in Kentucky.  

Well I do in fact need to money to live on.  In fact our idea is to hire a property manager to cover our properties.  I also need to make some income from it.  Right now I am only cash flowing $200.00 a month without management fees. 

 So my trip down to Tampa Bay area over the Holidays was mostly trying to find the areas we like the most.  We did look at some real estate also.  Mostly condos were our focus at that time.  So what price rage are your low income properties in the St. Pete  and Tampa area?  

What is a real expected price range for a rental?

I have been searching some local small banks for refi rates on total cost and rates.  

My idea is to go conventional loan for 20 year or 30 year. With no money out of pocket.

I have a duplex that I purchased for $155,000 and now the balance is $129,000.  

The rates I have been getting are 4.75% to 4.25% with the closing to around $1500 and $2500. 

My thoughts are its better to pay more on closing and get a lower rate in interest.  I am also hoping the 20yr fixed will give me a bit more cashflow and go with it.  So if needed later down the road I could refi for a better rate if needed.

 Well the weather is much nicer by 100 times!  We have drove around and saw some nice properties and not so nice properties.  Based on what I have found at this point and doing the numbers without contacting a insurance guy and finding exact taxes.  I did find the taxes payed on the county PVA. The information I have found I like the investments!

I was factoring in about 40% of my cash flow. (lol)  

If i had a move out they would skip out on me.  So I most often did not find out until rent was due.  So that was 1 month lost rent.  Then the repair cost.  Most of the time they were pigs so it took some cleaning and always painting. On top of that It usually took another month or so to rent it out.  The last couple years I was finding the nitch.  So I started getting a bit better tenants. It got a little better but still not great.