All Forum Posts by: Mike Jordan
Mike Jordan has started 14 posts and replied 60 times.
Post: High net yield over 8%
- Los Angeles, CA
- Posts 60
- Votes 5
Originally posted by @Matt K.:
Originally posted by @Mike Jordan:
Originally posted by @Matt K.:
Don't do this, don't buy at the bottom of asset class and try to manage it remotely. Don't do it locally either if you lack experience. YOU WILL GET BURNED. Understand your goal and find a property that can get you there... Chasing a paper return won't translate to real life success.
Just look at all the Morris invest threads if you need "proof".
I agree there is something cheesy in the offer/numer, but anyway if buy it, i will deploy property management who will handle this
My role of thump rule that anything proivde high income there is something wrong with it," too good to be true"
No, it's real but it's a niche that's for local experienced investors. It's a numbers game... And it can work but it's not a casual thing it's very hands on.
There are plenty of cheap houses all over the country that can get 5-600 or more in rent. But there almost all going to be in rough to war zone areas. Basically all going to be low income and sec 8. Crime and turnover going to destroy your cash flow and no reputable property management company will take this on. There's simply not enough profit.
Oh did I mention you're going to have high turnover and vacancy rates that will also destroy your cash flow.
i agree
Post: High net yield over 8%
- Los Angeles, CA
- Posts 60
- Votes 5
Originally posted by @Matt K.:
Originally posted by @Mike Jordan:
Originally posted by @Matt K.:
Don't do this, don't buy at the bottom of asset class and try to manage it remotely. Don't do it locally either if you lack experience. YOU WILL GET BURNED. Understand your goal and find a property that can get you there... Chasing a paper return won't translate to real life success.
Just look at all the Morris invest threads if you need "proof".
I agree there is something cheesy in the offer/numer, but anyway if buy it, i will deploy property management who will handle this
My role of thump rule that anything proivde high income there is something wrong with it," too good to be true"
No, it's real but it's a niche that's for local experienced investors. It's a numbers game... And it can work but it's not a casual thing it's very hands on.
There are plenty of cheap houses all over the country that can get 5-600 or more in rent. But there almost all going to be in rough to war zone areas. Basically all going to be low income and sec 8. Crime and turnover going to destroy your cash flow and no reputable property management company will take this on. There's simply not enough profit.
Oh did I mention you're going to have high turnover and vacancy rates that will also destroy your cash flow.
Post: High net yield over 8%
- Los Angeles, CA
- Posts 60
- Votes 5
Originally posted by @Matt K.:
Don't do this, don't buy at the bottom of asset class and try to manage it remotely. Don't do it locally either if you lack experience. YOU WILL GET BURNED. Understand your goal and find a property that can get you there... Chasing a paper return won't translate to real life success.
Just look at all the Morris invest threads if you need "proof".
I agree there is something cheesy in the offer/numer, but anyway if buy it, i will deploy property management who will handle this
My role of thump rule that anything proivde high income there is something wrong with it," too good to be true"
Post: High net yield over 8%
- Los Angeles, CA
- Posts 60
- Votes 5
Can i sue the seller and the real estate agent if he submit fake numbers?
Post: High net yield over 8%
- Los Angeles, CA
- Posts 60
- Votes 5
is there a list of professional/commercial firms who could verify the property and ensure the physical status of it, to ensure there is nothing major needs maintenance,
Post: High net yield over 8%
- Los Angeles, CA
- Posts 60
- Votes 5
These are the number:
Purchase Price $28,110
Rent = $7910
tax/insurance/management = $2410
NET RENT = $5,439 = NET ROI 20%
Post: High net yield over 8%
- Los Angeles, CA
- Posts 60
- Votes 5
Thanks, but I prefer a professional third party to review the number, I will also review it
The reason that I prefer a professional help because I don't have the knowledge and time to insure the seller report
Post: High net yield over 8%
- Los Angeles, CA
- Posts 60
- Votes 5
hi
I am looking to buy a property with high net yield/cap/ROI, my budget is around200 k USD.i am afraid is fraud, I need professional help to verify the property before the contract, I am looking forward in Liverpool and Orlando.
These are my questions
1 Is it possible to find a property with high net income over 9%
2 where can I find professional help e.g real estate advisor to verify the property real cost and income
3 what is the best kind of property to have this goal, budget hotel, multifamily?
4 where can I find statics related to these data
5 any further advice?
Regards
Post: I am keen to buy a property in Baltimore mainly for business/profit by renting the property, so in how many years can I get money back? 8 or 10 years?
- Los Angeles, CA
- Posts 60
- Votes 5
Thanks for the answer, as a matter of fact, I am non-american, is there any chance to get a financial support from the bank for this.
Furthermore, how could I know if the appraisal is legitimate and have adequate experiance, and is there firm that taking care of the rental.
Post: I am keen to buy a property in Baltimore mainly for business/profit by renting the property, so in how many years can I get money back? 8 or 10 years?
- Los Angeles, CA
- Posts 60
- Votes 5
Hi, I am keen to buy a property in Baltimore mainly for business/profit by renting the property, so in how many years can I get money back? 8 or 10 years?
Another question, what is best city in America that I can invest in real estate and get my money back at the earliest?