All Forum Posts by: Farakh Zaman

@Sam Shueh while I appreciate your input, it actually is not helpful, nor address the issue I am having.  

As I stated, the 50-ish offers I made are off of numbers that make financial sense.  This means they are usually lower than asking.  The 10 that were at asking, went at over asking in most instances (to the point where it makes absolutely no financial sense, example ask 300K, went for 335K) or in once instance was matched by an all cash offer of 400K (again makes no financial sense as an investor).  

@Carolyn Morales Hawaii is like Los Angeles, it doesn't make sense ever...however we have been primarily looking in Ft Collins/Loveland area of CO, Denver, CO, Colorado Springs, CO, Pueblo, CO, Kansas City Metro (Missouri side), Springfield, MO, Satellite Beach, FL (up and down the space coast).  

I have owned one home w/ an HOA and found it to be the most stressful part of owning that particular property. It gives someone else control of your property and how it must appear, etc. For every deal since, we have actively avoided HOAs. Just my 2-cents

Interesting question, I have actually had the same question for a property we have in Colorado.  It is a long term property we will hold on to and has an unfinished basement.  If we finish it not sure how much more we can get out of it but it would add approx 600-800 sqft.  Hope someone provides some good insights

So we've spent the last 7 months looking at deals daily.  We have run the calculator on this site to the point I don't even need to think to put in the numbers...but literally nothing has panned out.  5 cities, 600+ properties looked at, ~50 offers made using numbers that make sense (~10 at full asking) and literally nothing.  

What to do now?  I am all for "keep on trying" but something isn't right.  Am i being naive or are others having the same issue?  I go to meet ups or listen to podcasts and webinars and see all of these deals out there everyone is getting but not one has worked out using realistic numbers for us.  

Money is also not an issue for us as it is for some...at this point we have enough to pay cash for some of these places we offer on but obviously that doesn't make sense for an investment property...

At this point I am wanting to give up on the buy and hold option and find something else...thoughts?

Hi we have a property w/ a 30yr fha loan with 25yrs left at 4%. We talked to our mortgage broker and he said we could refi out of it into a conventional to get rid of the pmi. Question is should we do the 30 to get a bit of cash flow ($120/mo) we break even currently) or reduce the loan term and payoff early (15 yr) with a bit out of pocket ($200/mo) We held onto the property and it has appreciated well so we want to keep it and paying out of pocket doesn't kill us because we don't actually have that much in t. Bought w/ 3k down. Any thoughts and comments appreciated.

Would agree in some markets. Colorado front range and Kansas City are definitely hard to find deals in. But there are other markets.

@Dwayne Byrd, Thanks for reaching out.  Will send you a message.

@Joshua Lyon, looking for an investment. I have never looked at any HUD homes, but that does sound interesting. Due to the location I'm currently in, it makes it hard to do any major reno type projects, but I would be open to a HUD property if it didn't need a total reno. Will send you a message.

@Tyler Maragh, looking mainly at residential, but I have seen several 8-10 units that interest me as well.  Any commercial broker recommendations?

@Christian Scalla, I had never heard it called that either until I was doing research for that area on craigslist...that's what it is listed as on there.

@Scott Schuetz, thanks for the endorsement

FZ

"A bit more North and South"

Hey all, Looking for an agent in the space coast area. Anyone have any recommendations. Specifically looking in the satellite beach and Melbourne areas. Also a bit more and south of there. Thanks for the help. Farakh