All Forum Posts by: Jon Klaus

Rich, earlier in the thread you said "Have some properties free and clear and protected from any loss; insurance, trusts etc. Have the others mortgaged to the hilt for maximum growth."

What are is the criteria for homes you pay off? Fully leverage?

I'm selling a home and my buyer is using FHA financing. The price is $60K. In TX with no liens/mortgage. How much should I expect to pay for title policy and closing? I've talked to the title co. I use for buying HUD's and they say a little over $1K. Is that good or should I keep shopping?

Jason, have you considered selling your building to them? A business as an OO, can typically justify paying more than an investor. Plus they will save moving expenses, which can be substantial.

Yeah, I need to look hard at section 8. I haven't yet because everything else I've been buying has been on acreage.

I have a 5 BR mobile home on 2 acres under contract that could work for section 8 other than mowing.

Got it under contract at $28,770.

I looked at a bunch of comps today that confirmed that this one is tough to price, but it's location and lake views will keep a net under me.

No points on my private money. I'm going to work hard tomorrow to get real comps and see where I am, but I need to decide by 10AM. I'm definately leaning towards it, because I am thinking it's worth closer to $80K and could get $850 in rent, too.

The lot is about 90' x 60' with the 90' being street frontage. That forced the addition to be slightly strange, but high quaility. The house is 75' x 25'. I've seen much worse. Being a lake house neighborhood with few building restrictions, many "unique" homes are nearby.

That's Robert Downey, Jr's Ironman behind me saying "protect your data" which is something my firm helps companies do.

Thanks for the financial analysis!

I can get it for $29K. Paying 10% for private money, but potentially can refi after seasoning.

Jon, what else would you want to know? It does/will show pretty well, but has kind of a funky layout due to how an addition was built. Not too bad, though.

Randal, did you ever find a mentor? What are the biggest things you've learned since February?

What else would you need to know in order to say what you would pay?