All Forum Posts by: Kyle Kelley

I was wondering if its possible to get a real estate license in a different state from where I live?

I live in California, but most if not all of my properties are going to be located in Ohio. Can I take classes and exams online to apply for a RE license in Ohio while not having one in CA?

@Chris Kennedy  I like points 2 and 3! Definitely a strategy to consider

Thanks @Jean Bolger Thats exactly what I was struggling with - the need to get the "best" price. 

@J Scott thank you! I dont envision ever wanting to over pay for something but I do tend to agree with you in that I am buying for cashflow in this instance so I should be less concerned with purchase price vs value price and more concerned with the cash flow I will be getting 

@Jay Hinrichs  Thanks!

Thank you @Account Closed ! I'd say you got lucky on that one! 

I am not buying for appreciation, I am looking to buy and hold these properties. If they end up appreciating a bit, great that can be a bonus, but for the most part I just want solid middle of the road cash flow investments that will be beneficial over time and just want to make sure I don't do something stupid over 6K in the mean time - Pennies wise, pound foolish indeed

@Jay Hinrichs  Management for these are already in place. They are not in war zones and although I am out of state, I am from/familiar with the area. Much different than an investor from So Cal who truly has zero experience or knowledge of an area. 

I don't want you to think I am entering into this lightly or not fully understanding what the difficulties of investing from long distance are or the risks involved. I am fully aware, but I was just hoping to gather some other peoples insight as to what they would do/how they feel about the numbers.

@Jay Hinrichs  Yea the numbers I have are right at 54% and 57% with regards to expenses and costs per month, so I would be very happy with taking home about 40-45% of rent as cash flow.

Im just wondering if it is really a big deal to haggle over 6K on a relatively low purchase price with a good cash flow coming on the back end.

@Account Closed Oops! Sorry, forgot that. 

Combined value is $72,000 - no major updates or repairs needed / planned.

Hi all, I need some help analyzing a potential deal. I will provide the basics of the scenario:

2 properties for 1 price: 

Sale Price : $56000 vs $50000 

Total rent : $1450

Vacancy (8%) : $116 (although both properties tenanted and staying, included in the costs)

Operating Expenses : $408 

Net income: $926

Cash Flow Minus Mortgage @ $56,000 = $625         Cash Flow Minus Mortgage @$50,000 = $657

I had 50K in mind as purchase price, seller says he's at 56K and seems to be pretty firm, should I really be concerned about haggling over 6K when its only going to result in $32 cash flow difference? Seems like I would be able to recoup that 6K rather quickly, within a year if my math is right. Any help and input is much appreciated! 

Sorry in advance for the double post, I just didnt know how to delete/edit my previous one...

Hi @Jerry Padilla 

Do you Cash-Out refinance, NOO, free and clear properties under 50K? Also, do you provide conventional fixed or ARM loans for properties valued at less than 50K?

Thanks!