All Forum Posts by: John Haley

Thank you all for your input and advice. I forgot to mention that 2 of the six are commercial store fronts and 1 is a mobile home, 3 are homes.

Taxes is a good question. Their lower end homes that have bee remodeled so I think repairs costs wouldnt be as high as you would think but better to be safe. 

I will keep looking, you guys are awome for responding. Any other ideas, I'm open.

I need a generated income asap with 40k. I like the idea of living in a multifamily property and renting the others out.

I was wondering if I could get some advice on this. I sold my business and have a little money to move into full time real estate but cant show good enough tax returns right now being I was self employed and beat it down real far. Were also moving North west from Florida and need some security for my family.

Theres a owner finance deal: 235k for 6 units,  that are all leased bringing in 3650 mo They want 40k down @7% interest for 7 years. Said there is about 200 cash flow per month but I would own it out right in 7 years.

Does this sound good to anyone? 

thanks for your help, pretty new to this. I really only have about 40k to invest and would be sitting good in 7 years. We were going to try to flip but its been real hard finding the right deal and we must move because our daughter is going to school out there.