All Forum Posts by: J Salter

You haven't given us enough info to advise personally but if it is just off the numbers you gave, I would advise Owner/Seller financing as Bill G. said. This option is more flexible and is a win win for buyer / seller if seller doesn't mind waiting for the maturity of the loan.

It cuts out heartless bankers and fosters independence. you would just have to come up with a conservative financial strategy to have much of your old debt and the new mortgage paid off by the end of the term of the newly acquired mortgage.

Its important to factor in all costs (taxes- local property city/parish/state/federal) , maintenance and manager fees.

Bottom line is you should do it! Nothing like being in real estate just do your homework and don't rush... not in this economy...

I think its the market playing itself out. People looking for more profit and generally more enthusiasm will go for lower in places and build them up if the area has potential. Those who want more peace of mind and stability accept the less riskier areas for less rent comparatively.

Either way the value usually holds.

Hey Will, welcome aboard, I'm deep into Louisiana tax sales and I have quite a bit of interest in New Orleans. Lets network! Accept my request

The Mathematics (Or as someone else on here put, the hunt)

As an investor I love hunting for the right numbers that make, what some may see as dud or dump property, seem like a pile of cash sitting neatly in a suitcase with my name over it and a chocolate mint in the middle!

And additionally watching those numbers play out after purchase

The Gardere geographical location is only spoiled by the near by waste site (which kinda tells you what city politicians think of people) but nevertheless, you have to think long term with a property like this.

Being more community oriented is great but it does no good if you don't have an over-arching financial strategy to sustain positive growth and quality of life for all involved.

I was doing some tax lien hunting and scoping this area (gardere) out. Looked like the lowest income place in Baton Rouge almost.

Low income takes more effort but its all what's in a man (and his team). You can make it into a very uplifting venture for you and your tenants.

30K for a 4plex (in a fair condition) is still a pretty awesome price even in a war zone!

I'd low ball some more while continue researching and if no red flag rise then take it.

Louisiana's a bid down state. The lesser interest bid wins. I'm sure you know this now. Now as far as the state law goes, the parish tax lien sale takes priority over all other encumbrances.

Now, IRS liens are federal and I would assume that the fedz would infringe upon state law because there is ample precedence of this.

This string is funny. I think about Strategic default all the time, just not for myself!

Curious guys, is hardwood flooring recoverable if cat-pee is left on it over night or should the wood be resist for a while?

Nice Jeffery, the "stinky-pee house" strategy - I like it!!

That's the value, you have to find products that no one want's to touch and turn them into gems!