All Forum Posts by: Jai Hill

Thanks.

I want to purchase a home that is for sale by owner but, the owner lives out of town. Would I contact a title company to get things going? What should I expect the closing cost to be and should I make the owner responsible for them? What else should I be aware of?

I am interested in a vacant home with an absentee owner. They cannot get a hold of the family member who once lived there and has the key. What other options are there since the owner lives thousands of miles away?

My cash flow would be $500/mo

I purchased a home in Toledo, OH to hold as a rental. I am having thoughts of selling the home for a profit. Base on comparables I could sell the home for around $115k or rent it for about $1,100/mo. My all in cost are $65k. 

What other factors should I consider?

I am looking to purchase a home that is on the sheriff sale list. I've been told these purchases are cash only. Is there lender who will finance a portion of the deal if I have some cash?

I am looking to purchase a rental property for positive cash flow. What is considered a good cash flow?

Viewed a home 2BR/1 bath 900 sq/ft.  They are asking for $55k. I think I could rent for $725/mo. Everything is ready to go, no repairs needed and appliances furnished.  Only concerns are it's small and I not sure it is worth the asking price. 

What is a good negotiation price and what should I expect for a monthly return? 

I am interested in a house that is up for Sheriff auction. The first mortgage is forclosing on the home. I pulled the title report and there is a second mortgage for $20 and additional liens (repo, credit cards, cash advances) of $20k.  Will the second mortgage and additional liens stay with the property or will they drop off?

Will the bank most likely out bid me since $60k is balance due and the Sheriff's appraisal is only $50k?