All Forum Posts by: Bryce Litwin

You will need to have saved, at minimum, enough for:

1) 20-25% down payment 

2) closing costs

3) insurance 

4) holding costs (taxes, utilities, etc)

5) Reno budget with at least a 20% cushion 

6) some cash reserves

7) travel expenses

Sounds like you're still saving for a down payment at this point...

Realtor.com allows you to filter for multi family properties.

This is not hard as long as you have a good idea of values in your local market and can negotiate a good price with the seller without a realtor.  It can be a win-win for both you and the seller as you won't have to pay a realtor commission.  Just have a real estate attorney draw up a purchase offer contract.  All the rest, inspections, title search, insurance, etc is pretty much the same.

Are these single member LLCs with each property separate?  I would think you could take an owners draw from the account of the profitable property and when funds are required make a deposit to the account of the property you are rehabbing.

We've had this problem with Craigslist in the past and suspected someone else was flagging our ads as Tony Rosa suggested.  We kept reposting, sometimes with slight changes, and eventually it stopped.

You're still going to be named in the lawsuit no matter what agreement they have drawn up....

Congrats!  Is this a rental or for your primary home?  Or primary to later become a rental?

FYI, you are significantly underestimating HOA fees...

http://windsorhillsproperty.com/buyers

I'm using Quickbooks for Mac and cozy.co currently for 5 properties and combined with email it's working out ok.  

Well, I'm above average...