All Forum Posts by: Jonathan Key

My humble opinion after being on BP a bit and reading a lot of material:

If you have

1) Good common sense.

2) The ability to read and absorb material.

3) Are self motivated.

4) Have decent math skills.

Then you don't need a guru or class or best techniques training. You can get that all on your own from lots of sources - some free even. (Like BP) Save your $$ for your first deal.

@Jonathan Wheeler Good topic, I have come across the same thing in my area. I have read some of the other threads about the same subject and it seems to be mixed thoughts about fire damaged homes. I am taking a look at one tomorrow. In NY it will probably be different than TX, but I think if I can get if for less than 10K I can drop a modular home on the land since its in the city limits and still get good cash flow.

Let us know how it works out.

@Craig Wilcox Did the sealant work?

@Bill Gulley Thanks for the clarification and advise. I will do exactly that as soon as I do my due diligence research on the topic as well as reach out to Mike.

@Mike Hartzog These are the same type of deals I have been researching lately, but where I would be the buyer/investor. I am looking trying to structure the deal where the owner is essentially the lender. Low money down, a couple of years and balloon at the end. That gives me the opportunity to rehab and flip or do a rate/term refi if I want to buy and hold (which is my goal).

Great topic, I am looking forward to more input from fellow BPers!

*followed

Great idea, but I'm reading a different flip book. :(

Just get a HML for 90k. You should be able to turn the property and get cash flow quickly. Then do a rate/term refi at a bank.

No stripes. ;)

Welcome to BP! You will certainly learn a lot from the folks here!

@Jason Burr Great topic! I completely agree with your point. Of an 8 hour day you end up getting 6 hours worth of work!

*topic followed

I would not recommend using paypal, not only for rent but for anything else. I have literally DOZENS of colleagues that at one point or another have had accounts emptied. It always led back to a paypal transaction. I would say find a more secure ACH that specializes in rent payment collections. I would take an old fashioned check in the mail before I took paypal.

Just my $.02.