All Forum Posts by: Linda S.

I just got a house from Auction.com, and got an amazing deal.   The other way we get great deals, is that we buy houses with cash that are "as-is" and offer 30-40% off the ask price.     I guess it all depends on what your strategy to determine what the best path is.     

Our next purchase will likely be done through driving for dollars.   Good luck!

For $100 extra a month, I personally wouldn't.    That's like 2-3 dinners out.   The likelihood of something breaking and eating up the profit is too high, not to mention just the general stress of owning a house.   If I were you, I'd search for a better deal, maybe go to a C neighborhood or if you're trying to find your next house, find one you love, and then if you decide to move, you can rent it out.   

It all depends on your strategy, but it seems like multifamily is normally the best option for investors.

@John Zackery, send us a link or pics of the house,  there's always room for improvements and upgrades.    Without any details we can't say if it's a good/bad deals.. it sounds like it was a primary residence since you only had a small down payment, could you rent out a few rooms? 

From an investors perspective, this isn't a rational decision.   Two incomes will always be better than one.   If you find a duplex, and just want to turn it into a single family house for you to enjoy, that's the only scenario I can think of where it'd be beneficial. 

Buy a multifamily unit, and house hack. With the VA loan, he shouldn't have any money down, so he can put that into renovations and get a good income stream from the properties.

It's January, and their lease is up in 21 days.   I would immediately give them a notice of non-renewal.    

Personally, I don't think the amount of money you're going after (1-month rent) is worth the whole eviction process, can you try cash for keys if they don't pay after you give them the pay or quit?    They have been a headache to the old landlord, but that's not your problem.  How much will a lawyer charge you for taking them to court.. probably significantly more than the rent you're missing, and also, it will take away your time/money from getting a new and good tenant in there!   With a new tenant, you'll set the ground rules upfront, be fair and firm.

You just write yourself a check, it's pretty easy but pay attention for when the APR increases.

If that's your niche, and you enjoy it, why question it?   Can you make more money with 2/1, or 3/1, yes absolutely, but more people does come with more stress.   If it's just you, and you like the exchange of lower stress for lower income, go for it.. you can probably get some good deals on 1/1 because they aren't as attractive to investors.    Good luck!