All Forum Posts by: Delbert Standifer

We all know and experienced seeing all cash buyers come in and purchase properties. Originally that’s what my friend wants but we negotiated I come in with at least half. It’s hard to compete with all cash buyers.

@Chris Pasternak

I don’t think I would. 90k property that will rent for 1600.

@Ivy Baca

My friend has one large family living there. They use front house and back house and pay 1500 and all Utilities. My son is a student Athlete I will have him and 3 teammates live in the back (300 each)and rent out the front house for 1000.

1600

@Rick Stein

The seven years is fully amortization my friend said it can sale for all cash at 85k right now.

@Mike L.

Ok here are the numbers best to my abilities.

As of now the house rents for 1500. The house is paid off. If and when I purchase it and place my son in it I should get 1600. I will have to pay for the water because it’s not separate meters. I’ll have to pay the owner 650 for 7 years. PM is 10% and I take out another 10% for capex repairs and maintenance. Taxes and insurance is about 250 per month. After all that I see myself with about 380 cash flow. What am I missing and I hope this helps. The 380 will jump to 1000 in 7 years.

@Ivy Baca

Correct me if I’m wrong but the way I see it is, I’m paying for the front house and the back house is just an added bonus.

What is the difference and an all cash buyer buying the property which we all knows that happens,and me coming in with 50% down. That’s where I’m getting confused at.

My said they will take all cash for 85k. I really need a duplex for my son because he’s in college and needs a place to live. I figured a paid off property in 7 years is a good deal which can easily cash flow over 1200 month when it’s paid off. That’s why I’m asking BP community but the overall thoughts seems to be it’s not a good deal. The property is in the south.

@Justin Gottuso

I think my friends genuine the duplexes in the south my friend has five other properties on the street. My friend Knows that I need a duplex for my son and I think my friend is just trying to help Sweet deal for my friend and OK deal for me like I said they can easily get 90 K for it especially right now

@Delbert Standifer

I just want bigger pockets community opinion