All Forum Posts by: Mark Gallagher

@Ericka G.

As @Victor N. says, deducting fair market value of the quilt would seem appropriate. However, the fair market value of a used quilt is likely not much. It might be best to chalk this one up to a learning lesson. Not worth withholding the money and causing legal action. 

@Devin Mann

Who do you want them to call? Depending on who they're calling and what they're doing, they don't need a license. 

@Michael Graystone

10-15 homes at 12% cash-on-cash returns, somewhere outside of New York, obviously. 

If you can live off $8-$10K a month, you're set. At 0% appreciation for your lifetime, you could still leave your estate the $850K in equity and nice cash flow. 

@Jessica Zolotorofe @Shea Spinelli @Jay Hinrichs

I read Shea's initial question as - is he literally signing his own name - which he is in fact signing his own name. 

@Justin Schaefer

Just move some tiles and take a look. In older homes I've seen them over beautiful plaster ceilings many, many times. 

@Justin Schaefer

A red flag for what? Usually they were installed for aesthetics. 

@Tan Mehedi

First and foremost it sounds like you're paying too much for the property. 

1) Yes those are good places to start, or hire a real estate agent. 

2) You'll need to find something that's essentially move-in ready for you to use an FHA loan. Something that's in average or better condition with 3 units occupied getting good rents, and one unit vacant would be ideal, but hard to find.

3) Yes, you have to occupy the property to qualify for an FHA loan.

@Ashley Gambrell

Unless you're licensed you can't collect a commission. You need to either assign contracts for a fee, or buy and resell properties. 

If you find Motivated Seller A at 123 Main Street, willing to sell it for $50,000 and it's worth say $125,000 all fixed up, you look to put 123 Main Street under contract with Seller A for $50,000 and then assign it for $5-$10,000 to Investor A. If you do some more digging on BP you'll find countless threads on wholesaling. Good luck. 

@John Lee

Sounds like a bad idea. Most RVers (myself included) are not looking for noise, we're looking for peace and quiet.