All Forum Posts by: Jason Schimer

So... here is the background story. i inherited a property with my sister as a 50/50. probate is about to end and i have to come up with a decision on how to move forward. my sister lives in ny and doesn't care what happens as long as she can detach from the property. the house is worth 200k.

1: i can either sell it and pay all that fun stuff that goes along with selling a property and use the difference to invest.

2: i can buy out my sister for 100k, take her name off with an Assumption, and rent it out with a cashflow of $1000 a month mortgage free.

3: i can buy out my sister for 100k and take her name off the, take her name off by refinancing, refinance for 100k get my money back (to invest in other properties), and then rent it out having 100k equity, and cashflow would be around $500.

after a long time debating i think the 3rd option was the best but after asking Brandon in the 727 webinar he said that 3 sounded like a good idea but i had to be careful since I'm taking out a large chunk of cash. he looked tentative to say yes. i felt like he was holding back. (i only asked about number 3)

What do you think? tell me what Brandon was holding back on and which you would recommend.

So... here is the background story. i inherited a property with my sister as a 50/50. probate is about to end and i have to come up with a decision on how to move forward. my sister lives in ny and doesn't care what happens as long as she can detach from the property. the house is worth 200k. 

1: i can either sell it and pay all that fun stuff that goes along with selling a property and use the difference to invest.

2: i can buy out my sister for 100k, take her name off with an Assumption, and rent it out with a cashflow of $1000 a month mortgage free.

3: i can buy out my sister for 100k and take her name off the, take her name off by refinancing, refinance for 100k get my money back (to invest in other properties), and then rent it out having 100k equity, and cashflow would be around $500.

after a long time debating i think the 3rd option was the best but after asking Brandon in the 727 webinar he said that 3 sounded like a good idea but i had to be careful since I'm taking out a large chunk of cash. he looked tentative to say yes. i felt like he was holding back. (i only asked about number 3)

What do you think? tell me what Brandon was holding back on and which you would recommend.

@Joel Owens @Jeff Wallace  because i live in Miami fl i was looking at Gainesville. i find that the rates are low but the rental apartments are also affordable. You would have to a millionaire to even think of owning a single family in coral gables to invest for students going to University of Miami. i do like what you guys said. so, i could get an attorney to write up clauses and requirements. i was also looking a south bend for Notre Dame. either way they are going to be a good distance away from me.

@Jeff B. if you could can you tell me what ill be up against. what happened to you? you got me curious.

Ive never done it before but Ive been nationally ranked in sales positions before and I'm personable. willing to learn if you're willing to teach me a bit. let me know if this is a possibility. thank you for your time.

Jason Schimer

@Robin Maza thank you for the opportunity to ask questions. I'm going to call you when i need a good connection. 

@Benjamin Pekarek i agree that miami is a booming location but with that the prices are insanely inflated. especially with MF. anything worth getting is insanely expensive or in a neighborhood that i wouldn't walk through at certain times of the night... I'm not here to complain, I'm hear to figure out alternatives and solutions. You are right though. sometimes the single family are more stable when you do find a good tenant. maybe a good duplex with 2/1 per unit would be ideal. 

I'm going to make this a simple discussion starter. I've been looking at multifamily homes utilizing large college rentals. In my opinion this will not guarantee but it will assure more odds of getting rooms rented for a minimum of a year. So that's my question... Invest in college lease YES or HELL NO? is it worth it and if it isn't why?

I'm going to make this a simple discussion starter. I've been looking at multifamily homes utilizing large college rentals. In my opinion this will not guarantee but it will assure more odds of getting rooms rented for a minimum of a year. So that's my question... Invest in college lease YES or HELL NO?

Hi Julie, I'm curious to how you charge to manage properties in Daytona? What's the criteria, how do you charge, and what do you do for that fee.