All Forum Posts by: Ghenia Flewellyn

@Ley Nezifort I give them 200 off rent for December. I've done it for 12 years. Most of my tenants have been with me for over 6 years ...(expect my new purchase of course).

@Patrick Bavaro hi there! So far so good. Cashflow is great. Hope I don't have any major repairs any time soon!

@Quentin Brown thank you so much! Same to you :-)

Hey Team, I've had a handful of BP'ers reach out to me about investing long distance in Macon, GA so I just wanted to provide an update. Just closed on a tenant occupied (2 years for each tenant) duplex in Macon (paying 950 per month total for both units with Landlord responsible for water, trash).  Owner moved to San Fran and wanted to offload some investment properties. Asking price was 39k. I offered 33k. Offer was accepted. Did the inspection and asked for a 2500 reduction - seller agreed. No immediate repairs needed.  Closed in 2 weeks - cash purchase. This is my second purchase in Macon. First duplex in my portfolio (which was a goal of mine this year) and fourth rental property out of state; 10th door overall (6 are in south Florida). I live in Florida -  my out of state investments are in GA. Property taxes are low - roughly 500, Insurance is roughly 500/year. I'll get a property manager if things get sketchy. I'm happy with the potential cashflow. Honestly, still a little timid about investing in C class properties that are out of state but if I don't try, I'll never know. Just sharing my journey - hoping it will encourage someone to just take the leap! Oh, and I'm 6 months pregnant with my 3rd child (all will be under 6 years old) SO ANYTHING you put your mind and effort to is POSSIBLE guys. On to the next one...

@Joseph ODonovan Hi Joseph, would you mind sending me your lenders information as well, please? Thanks a lot.

I'm in contract to purchase an OOS, long term, buy and hold investment property from a wholesaler. Its 2 homes on the same lot. One is a 3 bedroom 1 bath the other is a 2 bedroom 1 bath. Asking price is 55K. One home is on an annual lease at 675 per month. The other home is on a month to month lease at 575 per month. My first question is, how much pressure do you guys typically put on wholesalers to obtain current copies of the lease and provide them to you? In this case, the current owner takes care of the water bill as well. So would you also ask for proof of what the water bill has been on a monthly basis? My long term thoughts are to buy the property cash, and do a cash out refi since the current estimated value is significantly higher than the asking price. It seems as though the owner is just hard pressed for cash at this time. Considering that is my strategy, is there anything you would recommend I pay particular attention to at this time? This would be my 1st time using this type of strategy with a purchase. Thanks in advance for any advice you can provide.

I'm in contract to purchase a OOS, long term, buy and hold investment property from a wholesaler. Its 2 homes on the same lot. One is a 3 bedroom 1 bath the other is a 2 bedroom 1 bath. Asking price is 55K. One home is on an annual lease 675 per month. The other home is on a month to month lease at 575 per month. My first question is, how much pressure do you guys typically put on wholesalers to obtain current copies of the lease and provide them to you? In this case, the current owner takes care of the water bill as well. So would you also ask for proof of what the water bill has been on a monthly basis? My long term thoughts are to buy the property cash, and do a cash out riefi since the current estimated value is significantly higher than the asking price. It seems as though the owner is just hard pressed for cash at this time pe. Considering that is my strategy, is there anything you would recommend I pay particular attention to at this time? This would be my 1st Time using this type of strategy with a purchase. Thanks in advance for any advice you can provide.

Originally posted by @Matt P.:

Lol these threads always crack me up. I make $1100 a month free and clear at 40 years old, can I retire?

 Hahaha, right! Go for it and shoot me your resume while you're at! I'll start to help you look for your next gig.

Originally posted by @Mark Rosario:

I go to the gym 4 days a week atleast when I'm not working.. cardio and weight lifting.  I would think I was ok healthwise.  If anything were to make me eventually fall ill, it's continuing to work as hard and as often as I am now...

My passion is watching tv, movies, and youtube all day while fixing/building electronics.  

 AH! Ok. Glad you are working out. Very important. You are right - working too hard will def put a strain on you mentally and physically. Electronics?! Nice! Huge potential there!

I enjoyed reading this post. Think of it like this, if you retire now, you'd probably need that health care in that "country where its cheaper" sooner rather than later since all you'd admittedly do is sit in the couch watching TV all day. If I were you, I'd take the next few months to discover what your passion is and make a plan to pursue that while still saving like crazy. No girlfriend. No kids. No job. TV all day...eh, sounds like that could get old and cause you to get old .....quick. Just my 2cents though.