All Forum Posts by: Austin James

You will be very hard pressed to get a loan officer to budget you for PTI (payment to income). Most loans require 10% down at least. I would look at if you have any available grants in your area that may help your process. My 2 cents

John haws (Pm for number) Does my grandfathers He has 27 units and claims he is the best this side of the Mississippi That's my 2 cents

I would opt for the 100 with a lease legal and binding leases are just a CYA measure. It also allows you to step in and explain to them how you run things now that you are the new owner/operator That's my 2 cents

Brad A. That's awesome! The cash flow is annually correct? Sorry still new to this as well. The numbers are my hardest part!

I have a duplex I'm looking at but I can seem to find out who the listing agent is. I googled the mls number but that just pulls up a bunch of agents. Any way to find that out? Thier is not sign due to the fact is 100% full

I have heard of people putting each property in a LLC which IMO sounds like a book keeping nightmare. I would and will never hold a REI property in my name it will go through my LLC. You'll be hard pressed to find a bank that will let you transfer your currently in your name loans into LLC. Best bet is moving forward create your LLC with a good RE attorney and go from there That's my 2 cents

I'm assuming your "price to take over" is the down payment your having to put up? Looks like a raw deal to me. If that's the case your money down is only going to get the deal closer to the ARV

You can always have him take a unsecured loan out for the difference so you can have it clean and clear. That is if he is able to do so.

My grandfather just did one in that area worked out to be $37. Pretty rough condition though!

Asa Gunderman Perfect that's what I'll start doing is playing with the calculator. Is there a rule of thumb on how much cash is a "good deal". Again sorry still trying to get all this figured out. I've read a few books but in assume looking at deals is a faster way to learn