All Forum Posts by: Gordon Cuffe

I am looking at a duplex in st Joseph with a price that seems too good to be true. If anybody has experience finding tenants in the area I would like to hear how difficult it is to fill vacancies .  Are there jobs in st Joseph ?

@Mathew Watsonsend me a pm. I can always use a contractor 

@Kyle Burkhardtyou should ask to see before and after pictures of the repairs. You could also ask to see the invoices from the venders to make sure repairs were actually completed. A couple years ago , a property manager in St. Louis was stealing from investors when he said he had work done but actually no work was done and he kept the cash . Did you get an inspection completed before the purchase? If so , look at it to see what other items are old and might need work . Who knows maybe you will not need more work in the near future. 

@George Yeghiazaryanif you ever have questions about refinancing your house send me a message anytime .

@Michael ArreolaI am a long time investor in the Sacramento area so I think I can give you some ideas on who to use and other ideas on locating off market properties. you can send me a pm anytime with questions. 

@Josh Julyyou don’t have to worry because the property will not sell for 110k. It will sell for a higher price. If you don’t have the means to buy it , then you should wholesale the house and make money that way. You will not hold onto as a rental. 

@Israel R.you can always go to loopnet and make some offers. You can look up the rei group called Marei in Kansas City to meet wholesalers and search properties . You can pm me for lender ideas and other contacts for Kansas City 

My marketing lead has a seller wanting to sell 2 of his rentals. I only want to buy the one rental house because it is vacant and needs work. I need to find someone who wants to buy this 3br 1ba home that is rented at 725 per month, however ,if you look at rental comps, it can be rented at 800 to 850 per month. If you want to buy a turnkey home for 70k , send me a pm. 

I sent out marketing in the kansas city area 2 weeks ago looking for a fix n flip house. One of my responses is from a landlord who wants to sell his house for 100k . He allready updated it 5 years ago and is doing more work to get it rent ready again. It will rent for around $1000.0 per month. It is in the 64119 zip code near Gladstone. If your looking for a rental in the 64119 zip code, then send me a message and I will get you more info. I can not do a fix n flip on the house because the work has been done and the price. 

I have great news for real estate investors in California. I have a lender that does not require a full year of seasoning when it comes to the new property appraisal. If you purchased a 1-4 unit property and did some work to it to increase its value, you can get a new appraisal and do a cash out refinance on that property. The lender will go up to 70 to 70% ltv cash out refi. These are not hard money rates. The rate is a tad bit higher than conventional rates. You can pm to get more details or run a scenario by me. I have been  a licensed loan officer working for a mortgage broker since the 1990's.