All Forum Posts by: Justin Lanciault

@Nick Thomas

Are the comps bigger or smaller?

Sounds like it could be a good deal or it could be overpriced depending on the area. Ask the seller for justification of the price or comps and see what they give you.

I wouldn’t recommend it unless its off market and even then it might be iffy.

After refi you’d probably break even or just get a little money out... 

But, I mean I would be happy with a 65k spread after repairs and you would probably cash-flow 1k a month or so?

So since I am primarily focusing on buying and holding, I would consider this one...

Good is a relative term

Yes, I hear a lot of good things about Cozy

Gotcha. Thought maybe you had a full service listing going on, then your realtor would handle all that. In terms of pets, it's really your call, just be consistent. 

Did you list with a realtor? 

Sounds like you already know what to do. Assuming you have an inspection contingency, cancel. Just because the owner is selling it as is, doesn't mean he won’t do some work or lower the price.

I just represented buyers where did that very thing, threaten to cancel unless seller fixed one thing and then the seller did.

@Eric Long

No offense, but you must be a new investor?

Rental income is income and should be reported in the state in which it is “made.” I have properties in Texas and Maryland, work in DC and live in Virginia. My tax returns are a mess, BUT I don’t report anything in Texas.

I bought my house in Texas for 180k and the taxes are 5200.