All Forum Posts by: Kevin Felmlee

@Robert Fisher. I've been in real estate for the past 15 years and you mentioned you live in a town with 3 colleges in it. Wow, that would make me salivate all day long. I'd forget notes and go for college rentals. Your ROI is going to be much higher and more benefits than notes. Just my opinion.

@Chris K. @Steve Babiak.  Thanks guys. I asked because I'm looking to buy some notes (which wont be in PA) so if they go south and I have to foreclose then I know what I'm looking at.

just curious, does the attorney have to be in PA?

my accountant does mine for $50/month. This includes 1099's and tax preperation (Quarterly's etc). PM me if you want more details. 

@Jeremy Hunsberger. the above comments are correct in terms of finding & keeping tenants in these places. If you were near large construction project then maybe I would consider it for short term rentals.  And at $35/unit I believe you can do better elsewhere.

whats the per unit asking price?  That would be the big factor in my mind.

You must return the funds within 30 days and show receipts. But I've found that "interpretation"  really varies among local district judges.  I would document, document, and document & take pictures in case this ever would end up at a hearing.  

sales agreement. He'll be making cash on the interest and never have a phone call on the property.

Kyle M  if you want to PM me I can introduce you to my lender.

Just like Chris I would recommend "cash for keys".  Rent him a Uhaul and drop it off in the AM and tell him to have it packed by 5pm and you'll be by with some cash.  Make sure he gets his klunker off the property too and do an inspection. if empty; have him sign a form that he "vacated willingly" and send him off. then change the locks.  then next day have a crew there to clean, paint, and & upgrade and get a tenant in within 30 days.  " If the cow isn't milk'n it ain't making u money".