All Forum Posts by: Kevin Coleman

Thanks Mike for the info. For clarification, I’ve been given the unofficial (just not on paper) agreement to purchase the duplex off market from the seller. So in your example, if I’m trying to keep it but allow me time to save up for the eventual down payment, I could provide 1) an upfront down payment (a percentage) and then what would be an example of how the deal is structured for the time that I’m “leasing” the property? If the seller has a mortgage of $1100/mo I would assume that payment, charge a tenant market rent (1700) and then give the seller a monthly agreed upon amount from the cash flow? 

Kevin 

Hey BP, can someone walk me through how a lease purchase works? Everything on google is written as if i am the renter and trying to purchase the property. I am an investor and want to purchase a property. My main question is…i know i pay a deposit and we have an agreed upon term. During the term period, do i take over mortgage payments and pay the seller a rental fee/rental premium from the cash flow? Is there typically a credit built in that gets applied to the payment during purchase? Is the initial deposit applied to the eventual money needed for down payment? 

Appreciate the clarifications!

kevin 

Thanks..yes that has been one of my hesitations the few times I’ve considered this strategy. In long term I may settle for hybrid or something like only taking 50k loans, syndication, accelerated depreciation (assuming bonus depreciation doesnt go away) , pay back and repeat. 

Hey All,

Over the last few years I've decided to change my entire investment strategy from accumulation to cash flow. It's been working well so far. Recently, I've been contemplating withdrawing my entire TSP and buying cash flowing properties instead. I own small amount of RE already so I'm familiar with process.

My question for group is, has anyone considered a strategy like this for themselves, how did it work out, any creative ways to get the money out as withdrawal (syndications to negate tax loss, active property, 72t distributions. Etc).   I still have a lot of conversations to have with tax pro and other members of team, but wanted BP opinions.

I would be investing my in multi families. Undecided if fewer bigger ones or more smaller ones. Let’s just say for example purposes there was 500k to work with. 

Kevin 

Hey guys,  I’ve been considering buying a multi in Baltimore, MD and it comes with ground rent. I’d look to purchase the lease on initial acquisition, but I know very little about ground rent and how it works. Should I avoid properties with ground rent? What do I need to be aware of?

Kevin 

Anyone have experience buying rental property in Orlando market? My wife and I have been considering buying a rental near Disney that we would expect to rent full time. We live in another state. Few questions: 1. How easy it to secure property there living outside of state. 2. Financing became an issue when not in state? 3. What level of success have you had with rental opportunities per month? (Ie what is your vacancy percentage) 4 from what I can see the HOA fees range depending on property but ones I'm finding thay I like are in the 300-600 range which offers amenities geared towards families. Any help would be appreciated. I'm in Philly market so this area is new to me and will help me decide on anoth er er multi family in philly area or a vacation rental. Kevin

Hey guys, this is my first post to BP! So my fiancé are looking for a duplex now but we're finding that they are a hard find in our price range. Then ones we find are going to give us the proper ROi we'd like. My question is this...we found a great single famly that has all the workings of a duplex but is zoned single family. As a single family the REturn is minimal for cash flow but for duplex (2 single units) it would be a killer find. How hard is it to get a property rezoned in Philadelphia? Any other suggestions? Any other locations that are good for a rental? We'd live in for about 1 year before my transfer to DC for 18 months. Kevin