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All Forum Posts by: Federico Ramos

Federico Ramos has started 1 posts and replied 3 times.

Post: Very Motivated Seller with no equity!!!

Federico RamosPosted
  • Real Estate Investor
  • Philadelphia, PA
  • Posts 3
  • Votes 2

If the rents are $1300/month i would lease it with the option to buy it in 5 years... i'd do it for the cash flow.. if the rents are $1000 i'd say, keep looking xDD

Personally, i see sub2's as a no money down technique. I wouldn't put anything down... If the banks are getting payments every month, they shouldn't care who's making them... The bank could however call the loan due, but there are ways to go around that... You could put the property on a land trust.. ex: Current owner's last name trust...

Good luck!

Post: real life example

Federico RamosPosted
  • Real Estate Investor
  • Philadelphia, PA
  • Posts 3
  • Votes 2

X Guy wants $174.000.00 for a duplex. He owes 105.000.00. he's had 8 back surgeries and doesn't want to be a landlord anymore. montly house expenses come to $868 (mortgage, insurance, taxes) first floor rented for $750 second floor rented for $775. that's $657 cashflow! repairs stimated to be at around $5000. i haven't been able to find any comps that relates to this particular property. any thoughts and/or suggestions on this deal? i want this deal to be a win win win... but hesitant about how to approach the owner with a deal.