All Forum Posts by: Account Closed

I am closing on a property next Monday all cash deal. Going to flip and make approximately 20K. Does it make sense to form a Business LLC or just a business for tax purposes plan on doing a couple more of these and see where it goes?

I have been re investing for 6 years and have never done the court house steps, thinking I should for flip deals, live in Contra Costa County in Calfornia. Any help would be great !!!

I am located in California so 150,000 cash is not that much for investing in real estate. But I have 150K I can allocate to real estate. I would like to hear what the more experienced people would do with this money.

Somebody I know mentioned that I go outside of California and go to the courtsteps in places like AZ, C0, NM and buy properties that I can fix and flip

My sister is marrying a man(nice guy) who is going to stop paying his mortgage payments upside down over $300,000 no hope for him. Anyways my sister just bought a home here in California and her credit is and always has been perfect I am just wondering since they are getting married later this month if her credit or a lein can be put against her when he stops paying on his house? Any help would be appreciated.

Wanted to follow up with everyone on this. Asking price 89,900 obviously it was a foreclosure, one street away from a pretty hardcorde crime area. With that being said I made a all cash offer at 80,000. It went pending for 105,000 first time homebuyer. Property sold for 315,000 july 8, 2005 looked at tax records. Needed about 10 grand of work done to it.

Lower income area in Northern California. 80,000 condo 2/1 bath.

rents for 1100 $275 HOA, 50 Insurance, 100 monthly tax.

Only thing I don't like about deal is that it is a condo other than that this condo was selling for 285 at the peak(I know this doesn't matter) but it is interesting though.

People's thought on buying a condo?

So I have been looking at REO in Contra Costa County a very well populated area about 20 miles east of San Francisco. Found a deal I like. $100,000 property tax's 125 a month and insurance about $30.00 a month Hoa $175 a month. Not quite 50% rule but 65% and I comfortable with that 50% rule very hard in a somewhat desirable area of Bay Area, CA.

But than I go to the properties section a see 8 homes for sale that cash flow for $4800.00 a month for only 160,000. What am I missing on this. Seems to good to be true. This deal is supposedly located in Ohio.

What percentage rate of insurance deductible do most of you use. I am currently using 1% deductible and considering using 2% or 3% percent instead.