All Forum Posts by: Jerry Johnson

Can someone please break down the 2% rule and 50% rule down for dummies.. 

i just can't comprehend this . Can you break it down with examples ..:-) 

Just trying to figure out this whole 2% and 50% rules .. 

Thank you 

Thank you guys, very very excellent points... I appreciate it..

Some are in B/ C/D area's. My objective was to use bank financing, using that cash flow to obviously cover bills and future maintenance  and pay down the loan down quickly as possible. 

Again Thank you guys...

Thank you guys, very very excellent points... I appreciate it..

Hello Everyone.

I'm looking to invest in properties that are currently rented.

There single family homes, most have 1 year leases, and rents are low enough to raise ($25 to $75) range. Im thinking to get financing for these properties, which should be easy bc properties are cash flowing.

Properties do need some minor exterior work as well as interior work.

I would like to lock in the tenants with a 2 year lease, to secure the loan amount for the first couple yrs.

I would also like to raise some rent cost just to help with additional rehab.

There is still some due diligence needed on the properties.

I would like to give the tenants options, far as renewing there leases . Hoping to get 60% of them to extended or all,  specially if they have great rental paying  history.

Please give me your thoughts ?

thank you.

Any experienced real-estate/investor  guru's in Lancaster Pa Area??

That would like to talk real estate, looking for guidance , direction and ideas. 

thanks 

Sorry the" 5th unit was just rehabbed"

question.. 

Just purchased a 5 unit apartment.

4 units are occupied. The 5 unit was just rehabbed and now ready to be occupied. but first I need to make some adjustments first.

The building itself is ran using gas with one furnance  and one tenant control the whole buildings heat for all units.

I'm in the process now of separating all utilities and putting baseboard heat for 4 units and leaving 1 unit with gas. 

Is baseboard heat the way to go?

please advise.

@Account Closed Thank you both fro the information..

Question:

When Getting a HELOC, and using The HeLOC to invest in other properties, more so Flipping.

Will I still be Taxed if I flip a house and use that Flip money to pay the HELOC back ?

Example, I buy3 few properties with a HELOC for 100k

I want to rehab and sell one for 60k . If Im successful selling at 60k that bring my HELOC down to 40k. would i be taxed on that sale or bc Im paying the bank back I won't be taxed?

Please advise.. Thank you 

thank you both