All Forum Posts by: Kristopher Hanks

@Joe Martella I own houses in 44120, 44128, and 44108. All on the east side of Cleveland. Crime is all over the city. You need to decide what your risk tolerance is. What are you willing to tolerate and how are your communication skills. All of my homes will be section 8 certified. I have a section 8 tenant moving in to the one in 44108 this weekend. The east side of Cleveland is a good place to invest in section 8 housing. These people need homes so they are not usually very picky about where they live and some of them have grown up in these neighborhoods. I will not tell you to steer clear of any particular neighborhood. If the deal makes sense it makes sense. If you are worried about rough neighborhoods do not invest in Cleveland. Go into the suburbs. 

@Isis Franco I would not do it. 50k up front. No way. 

@Joe Fairless Brie already said it. Amazing

@Casey Peek Welcome and good luck with your future investments. 

@Ryan Sajdera I put mine into a PIMCO income fund and set it to automatically reinvest the dividend. Pays a monthly dividend. I use the dividends to save up for the next purchase. I try to leave the original principle alone. There is some risk here. The funds trade like stocks, so the risk of losing value is there. Risk I am willing to take. Some may think that this is not the way to do it, that's fine. It's all about what you are comfortable with. Risk / or almost no risk with interests rate of 0.5% or something close to that.  

@Andrew Pence Welcome and good luck with your future investments. 

@Mark Gallagher Hahahahaha! That's a great plan. 

@Mark Gallagher No argument there, because those are the types of homes I buy. I would never steer anyone away from them, unless they are trying to buy the same home I want, lol. 

@Mark Gallagher I would not argue that point at all. I should have been more clear. In my market, Cleveland OH, that has about a 95% chance of being true. The more pure definition of as is means the seller is not planning on doing any repairs that an inspection may find or as you stated that is just common language that is written into the contracts of institutional sellers. 

@Tony Osborne They are looking for negotiation leverage. Knowledge is power. It may also be them trying to figure out what kind of a deal could they get on a similar home in a similar neighborhood with your mark up being eliminated. I would simply just say that you do not like to discuss your finances with people you do not know. Let them know you are a private person when it comes to that and you do not like to brag about how much you make. You do not have to disclose it, as far as I understand the laws. I may be wrong and maybe other wholesalers can jump in here and give you better advice. Good luck.