All Forum Posts by: Lindel Turner

@Ben Roberts

Leave your home out of it. Just put 4K down. Do repairs out of pocket and roll with it.

@Ben Roberts

Usually 15 percent down at any bank. I would still go 15/20 year terms. Depending on what you want as a monthly net cash flow. What I do in jonesboro just down the road. Good luck

@Laurence Obi

Good job. Never let your guard down. This year I did 4. Profits = -8, -5, +18k, +15k

@Justin Wotring

Drive it like you stole it!

@Ron Buffano

In order to grow I can only say what works for me.

1. Run net cap rate. On gross sale.

2. The down payment t makes the net cap rate better.

3. You can do fixes rate loans if young and want to go fixed on 20 or 30 yr. your call. However in Arkansas long term mortgages have to be in personal name. Not an Lic.

Keep 10k in reserves for repairs.

4. If your not ever going to grow out the 25 percent down. After all 4 paid for is the same net as 8 your making payments on. Keep doing your home work. There are several winning solutions.

@Corey Kane

I owned one about 3 miles from my house. Lock outs, break Ins, gates not working, I need in now, blah blah blah I had it 10 years and glad it’s gone. The best way to explain it is would you rather chase 200 people

For 700.000 or 200 people for 100.00. My time was worth more so I sold.

@Jeff S.

Amen

@Bud Gaffney

Their probably aware of new ownership so now is time for change. Make sure you can afford the vacancy give them option out, stay and pay with a remodel. I would give them 90 days notice 30 days to commit.

@Bud Gaffney

When

I was in my 20’s I had 4 30 year mortgages. Good properties good locations. Now their all 20 adjusted every 5. The fixed provided a good base to get started until I got s little better evaluating. You will have more closing cost up front

On the fixed however by the time the bank charges you every time they renew the rate and loan and get closing cost it’s about same

@Nick Zito

Wait till they don’t even present the offer because they rather wait for their own buyer to get both sides of the commission. You will learn real quick. Don’t waste your time on an arrogant agent that don’t like to present offers.