All Forum Posts by: Niko Rossley
Niko Rossley has started 3 posts and replied 14 times.
Post: Newbie With Inherited Property
#5 General Real Estate Investing ContributorPosted - Posts 14
- Votes 17
Maybe I should take the 400k and put it on a 600k house. I'll only need to finance 200k. That's low.
Don't have a job but I do have savings and I can rent out a room until I get another job. I heard there's some loans with no job. Will I be able to-do this?
Post: 400k House From Inheritance
#5 General Real Estate Investing ContributorPosted - Posts 14
- Votes 17
Part 2
I dont think I was clear on the first post. I inherited 400k paid in full property in a senior living home community. I can't live there.. Not old enough. I rent right now and I don't have a job. I'm I tech and tech isn't good, we are getting laid off and not hired ( I’m living off of savings. I want to buy a home for me to live in..undervalue fix up to get some equity.
With not being able to live in the senior home and no job.. What's the best move With the paid off house? Yes I know about stocks used some other money for that.
Post: Newbie With Inherited Property
#5 General Real Estate Investing ContributorPosted - Posts 14
- Votes 17
Renters will pay Heloc.. No mortgage
Post: Newbie With Inherited Property
#5 General Real Estate Investing ContributorPosted - Posts 14
- Votes 17
Hi @Travis TimmonsIt's in a senior living community.. No can do. I'm thinking of renting it out and doing a Heloc for 120k on a duplex near me.. Maybe in Sacramento or somewhere near me. Theres no mortgage so renters of house will cover Heloc and taxes
New renters will cover duplex mortgage. I don't know
Post: Newbie With Inherited Property
#5 General Real Estate Investing ContributorPosted - Posts 14
- Votes 17
I was responding to what @moe sidd said about the 4k
Post: Newbie With Inherited Property
#5 General Real Estate Investing ContributorPosted - Posts 14
- Votes 17
Can I rent it out and take equity out to do your suggestion? I don't want to just sale.
Post: Newbie With Inherited Property
#5 General Real Estate Investing ContributorPosted - Posts 14
- Votes 17
Post: Newbie With Inherited Property
#5 General Real Estate Investing ContributorPosted - Posts 14
- Votes 17
I just inherited a house paid off worth 400k. How can I leverage that to make money and start an investment portfolio? It also seems like people put property in LLC's. I'm in California
Also recommended courses plz
Post: Hot Cheap Investment Areas
#5 General Real Estate Investing ContributorPosted - Posts 14
- Votes 17
Originally posted by @Todd Rasmussen:
If you are committed to starting with 10K, this is a strategy I've heard people using in the desert areas east of LA:
Look for older mobile homes that are for sale by owner. (Banks will not lend on mobile homes after they are a couple decades old so there is not a lot of competition for older mobile homes) Offer a few grand cash to the owner as soon as you get one that is in okay condition, DIY a minimal cosmetic rehab, and offer it as a rent to own or seller financed property. Collect a down payment greater than what you've put into the property and carry a principal amount based on what the buyer can afford monthly. Hold the note and collect passive income for a year minimum and then sell the note to a note investor. Depending on how good you are at it, you'd be able to 3x or 4x your money in about twelve months.
Do you know where I can find more info on this?
Post: Hot Cheap Investment Areas
#5 General Real Estate Investing ContributorPosted - Posts 14
- Votes 17
@Todd Rasmussen do you know where i can find more info on this?