All Forum Posts by: David Lant

If you still have I would be interested in buying from you. 

Thanks for all the replies. My issue with continuing to flip is that here in the Hudson Valley the pickings are very slim and the initial purchase price of the flips is so inflated that it makes it hard to find good deals. I guess that's why I'm looking for a route out of flipping. 

Looking for advice.
I have flipped around 20 properties and have previously owned four rental properties so I have a good amount of experience with the rental world.
But I need wisdom and advice. I've always believed in buying properties outright with cash, but this scenario I see will not get me to own a lot of rentals fast.
I have 700k in cash to buy rentals. What I'm thinking of doing is using the money to purchase a bunch of properties and work to pay off the mortgages as fast as possible? With this scenario, I could get seven buildings worth 300k each and put 90k down on each unit and pump all of the money left over after paying costs back into paying the mortgages off as fast as possible. They all have around a 10% cap rate.

Is it better to use the money left over after paying costs to purchase more properties and build up a portfolio that way? One issue I have is that I'm 46 years of age and don't want to be in a situation where everything is paid off and one foot in the grave.
I would love to hear people's thoughts and opinions on what is the best route to go.
Thanks.

I've successfully posted an property on Zillow for sale and ended up with a multiple offer situation.

I have several other properties to sell and I'm thinking of using a Flat Fee MLS service. Has anyone used a company to list their property? If so how was your experience? Any recommendations would be greatly appreciated.

Thanks

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $240,000
Cash invested: $220,000
Sale price: $830,000

Offered someone $1000 finders fee if they alerted me if their landlord (their brother) decided to sell his two properties. That was in 2014. I received a call last year offering me the two properties the brother had owned. He had recently passed away and his surviving siblings had decided that they were best selling the properties to help pay off estate debts.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $240,000
Cash invested: $220,000
Sale price: $830,000

Offered someone $1000 finders fee if they alerted me if their landlord (their brother) decided to sell his two properties. That was in 2014. I received a call last year offering me the two properties the brother had owned. He had recently passed away and his surviving siblings had decided that they were best selling the properties to help pay off estate debts. I winterized their property for them and helped them in the overall closing of the properties. I had a wonderful experience at the end of the renovations as I invited the brother and sister back to the house to see how they had turned out. They had grown up in one of the houses and were thrilled at how they had it came out.

@Tyann Marcink I've picked homes in Florida.

@Tyann Marcink I've joined with a management company as there out of state. The cost of the propertys is very large some I eager to pay off asap.

@Tyann Marcink Yes that's true. I want also try to pay off the properties so I can use them as my personal bank. Also I have 6 kids and I like to know that I'm secure and have something to fall back on.