All Forum Posts by: Josh Green

if the borrower request a deferrment or forebarence, the bank will update the report and reduce the late payments. I have been 90 days late and requested a deferment and my account history was brought back to current with no lates.

Ok, thank you,

The contract doesn't say anything about it being a cash offer. Just says 2000K down in EM, and 86K buyer's additional down payent for buyer's funds. 92K Balance of purchase price from my buyers new loan.

Nothing about cash. I guess if she walks since the inspection scared her, and she is not here so I can show all is well I get nothing. Right?

Thanks for your answers. I would love to keep the EM if we get to that point from the BS presented. I'm learning.

She wanted everything fixed on the inspection. Some truly stupid things I will not do. I won't fix what ain't broke.

Important things are done.

Thanks for your reply's.

Hello, , purchasing SFR is going to present quite a challenge i think - in terms of positive cash flow. I started with duplexes and had pretty good cash flow. I have been looking at houses recently and even with the market the way it is , the cashflow is just not quite there unless you can afford to put more money down - but then you have to look at your over return on investment. Recently I have started looking for at fourplexes - we are only looking at 3 1/2 % but that is because we will be owner occupied - but normally there is 20% down on anything over 4 units. with that in mind , you may want to consider getting as many units as you can afford - i.e a 4-plex , a 6plex, 8plex or 10plex. Obviuosly the price per unit goes down when you purchase like this , so your cash flow will be nicer. As far as hard money lending goes - someone can correct me on this , but you might be better served using hard money to flip houses rather than try to get cash flow from it, considering how much it cost to service hard money. You may want to consider flipping a property first , then using the profit from that to pick up a rental property. Even some of the best deals I've calculated with fourplexes will barely yield $50 - $300 a month profit - not too shabby but the numbers look a lot better when you start looking at 10 plus units. depending on what you are trying to achieve - buy and hold may be better deal for now if you can only get an SFR - it is a little difficult i think to unload a flipper right now unless you can find a really cheap fixer upper or know how to work the foreclosure market.