All Forum Posts by: Erickson Sainval

Best way to get it to happen is find a win-win. What is the sellers biggest problem and solve it. Looks like they need everything scheduled perfectly so they can transition. Find a way to solve this while still making it work for you. Easier said than done, of course.

Yes, always beneficial. A lot of meetups are area focused but not everyone can target their backyard. It would be beneficial to target those who are interested in out of state investing.

I would try to sell to the tenants. Usually it is a little more difficult to sell with tenants if the number does not make sense for the investor. Especially if there is a long time left on the lease. It could also benefit you because an investor does not have to worry about finding tenants as there is one there. I would not worry too much, simply put it on the market.

There are plenty of articles, books, webinars, and more here on BP. If your looking to build a 6 unit, look for private lenders willing to invest in new construction. You could also go hard money and raise the capital to fund it through investors. Find someone who has ground up experience and offer them your services. Learn the ropes, and take action.

Assuming a net take home in 1 year is about $7020, and all in is $21800, looking at about 32% return. I think it is a good deal. The 7020 is going off a 55% expense ratio. I did not consider closing cost, but with closing I would think your closer to 28% or so. I would be happy with that.

If that is the case, it would be a good deal. As you would be living rent free and keeping that difference.

No. Everyone has their own criteria, but I would not be happy with this deal. You can find better. Negotiate the price down if you can.

You can finance immediately.

Yes, there are tax implications. I would suggest getting with a real estate attorney to go about it the correct way. 

I would think the closest to this is Turn-Key property company.