All Forum Posts by: Matt Casey

This would be my first rental property it is a dual income property I know the sellers very well and they said they are open to carrying the note for me however they want me to drawl up something stating what my down payment would be, A simple amortization schedule as well as any other costs they may pay. I guess my question is the house is 100,000 I was thinking about putting either a five or 10% down payment depending on what they will agree to and see if they would carry the note for a possibly three years but that’s about all I have been able to come up with are there any suggestions on this Or how to figure out the amortization on it

@Daniel Schiller

Tulsa Oklahoma and taxes are $793/year

@Derek Harris definitely not a growing area but it’s right in the middle of Tulsa. The only main worry would be the actual property value declining because of the area

There’s a property for 100k fully remodeled 2 doors and combined rents for 1450 per month. The property more than likely would lose value and not sell at 100k down the road. With the cash flow considered, would you buy the property for 100k knowing that it will rent for atleast 1450 per month and owner would carry note for 5 with 10% down and monthly payments of 700?

@Edward L lauckern

Haven’t really discussed but thinking monthly maybe a 5 year note

I have a listing in a less desirable area at$108k here in Tulsa. 2/1/1 plus apartment 1/1 both are occupied apartment is 650/month and house is 800/month. The 1 car garage could be converted to additional bedroom for apartment making them both 2/1. I’m thinking about having the owner carry note for me for 5 years on my first rental? Is this a good idea?

@John Moorhouse

While I’m in total agreement that the public school system is a waste of time, I think staying in is the best. Start working for investors for free putting in that sweat! Build your contacts from there, maybe work out some equity deals for work, by the time you graduate you’ll already have connections and a net worth.

I am new to the investing world, not a lot of cash. I’m looking for the first deal. Any tips or thoughts on crowd funding? And what is the best way to go about it?