All Forum Posts by: Jeff Kehl

Recently when I do a search on the forums I am not able to move to the second page of search results. If I click the '2' or the arrow to move forward it does the same just sits there. I'm using IE 11 on Windows 10. Any ideas? I'll try some other browsers.

@James Ford how many homes are you talking about? If it's a bunch I think the best 2 options would be:

A) community bank to give you one loan on all of them. They probably have options but what I usually get is 20yr  amortization  with 5 year reset or balloon around 5% interest rate.

B) Some of the newer portfolio lenders like Dwell, B2R, Firstkey. They have a lot of different products with even some 30 year fixed products. I've only used Firstkey and would not recommend them.

I only just recently learned what a 'life estate' is and why someone would do that. But I came across some raw land that is up for tax sale that the title is held by 'John Doe Life Estate'. So I'm wondering why anyone would do that and what sort of rights they would have anyway?

I read back through the last dozen or so forums about life estates and it is always about letting an elderly relative stay in a house until they die. Why would you give them rights to raw land until they die? Hunting?

I think if I bought at tax sale the life estate would not matter because sure they could go wander around on it if they wanted but it wouldn't matter. This is fairly remote land only suitable for harvesting timber or hunting.

It looks like the life estate was granted in the 80's and my county does not have records online that far back so I can't look up the original document.

Anyone have experience with this?

The only way you would see it is if there was a sale to a real person you would see a deed recorded at the county when they close in 6-8 weeks.

What I've been seeing a lot of recently is that it was auction.com bidding on behalf of the seller and you'll see it up for auction again in a few days.

May be just my area.

I've been watching them try to sell some particularly terrible properties this way for 6 months plus. I personally saw one of the houses underwater early this year when we had some flooding.

Hi Tony,

I sent you a colleague request. Rome can be very tough to figure out block to block. Message me if you have questions with specific addresses. Generally I avoid the area by the country club but there are some pockets that are good. I'm doing a rehab over there right now.

Yep, that should be free and probably online. Look for the newspaper that carries legal notices for your county. Generally the main paper for the county seat.

You should still check out the courthouse though. Good place to learn how the processes work.

If I understand correctly option 1 and 2 are no financing and option 3 is with financing? Why is that? Do you find it hard to get financing on lower priced properties?

What I try to do when facing a choice like this is to base it totally on math. How much you can expect to receive after all expenses divided by how much cash you invest.

If you're only able to get financing on #3 I would guess your ROI would be highest there so that is likely what I would choose.

However, to do this correctly you should also do an honest assessment of the appreciation you can expect for each of the three choices and take that into account.

Again, totally guessing but I'd say you'd do better with the appreciation of number 1. Low end houses and multis do not seem to appreciate much to me. I've looked at the history of all of my properties and found I do better with the houses in A and B areas. So that's mostly what I have been focused on recently.

So I'd choose option 1 with financing. Even better if you can find some that are a bit distressed, buy them for cash, use the BRRR strategy and refinance and take your money back out.

It's amazing to me how many people recommend places like Ohio and Michigan. Sure you can get good cashflow there but is that really where you want to be long term? Why not invest where you can get good cashflow AND have good population and job growth? Texas, Florida, Georgia, Tennessee and the Carolinas. 

https://en.wikipedia.org/wiki/List_of_U.S._states_...

@Darryl Blalock

I missed that $21k was for 3 units not 4 so that is a bit better. What are the per unit rents $600? What are the beds/baths? 2/1? It's interesting to me that your market does not have much multifamily for sale and seems to be so much higher priced than my market. We're an hour from Atlanta as well just NW instead of NE.

What is the economy like there? Do you have any industry moving in? A lot of college students in that area?

The price seems quite high to me as well. I bought 3 very similar quads last year for $133k each. I pay about $150/month water on them but that would be about the only difference. I'd happily sell you one of them for $200k.