All Forum Posts by: Joey Piha

Hey everybody, what is your experience with seller financing? How much do you try to pay the seller every month? 

What do you feel is more important? Monthly cash flow or cash-on-cash ROI? Or are they equal to you? Im reviewing a potential rental property and after using the bigger pockets calculator and being conservative with the %'s, I get $600 monthly cashflow but a CoC ROi of 4%.

Hi everyone, when using the calculators on BiggerPockets, I always have trouble predicting the closing costs. Zillow has a feature on every listing where it estimates that 14% of purchase price of a property is the number you will pay in closing costs. Is this accurate? Will you pay $21k in closing costs for a $155k home? On the wholesale and rental calculator, the estimate for closing costs is 1-2%. Which is more accurate? 

Hey Everyone! 

Does anyone have experience with trying to buy residential property from a university? There are some vacant houses near me that are owned by the local college and I am wondering how I could go about talking to their property manager into selling them.

Thanks,

Joey

@Cassandra Sifford Nice to meet you! I have loved reading the posts in DelREIA and learning from everyone's opinion. 

What is your plan for buying your first investment property? Do you have a specific area you want to invest in within Delaware? 

My friend @Jelani Smith and I are also looking to try and get our first wholesale deal as well in the next couple months. Do you have any preferences on a favorite real estate attorney in the area? I also saw you are a school teacher, my brother just got a job teaching at Mt. Pleasant Elementary.  

@Eric Armstrong Hey Eric, I currently live in claymont and I am in the DelReia Facebook group. I'm looking to invest in real estate in the next 15 months or so and was looking for other Delaware investors. I graduate from UD in the spring and then I start my job in July and from there I'm hoping to save money to then find my first property to invest in.

Hey everybody, any Delaware wholesalers or investors?