All Forum Posts by: Michael P.

My question is, as you acquire a property you obtain a significant hit with closing costs.  How do you roll that into your monthly, or annual breakdown for net profit?

On this deal, im doing a 30yr fix, with 25 down at at purchase of 55-60.

The mortgage will run 274, tax is 100 a month, Insurance 75, not accounting for vacancy i have net cash flow 366.

Cash on Cash ROI 29%

Nice Eric, I like that.  In this situation, rent is 815, purchase price is around 55-60

Hi everyone,

Worth 80, has tenants, paying 800 monthly, no actual work necessary. I am doing a 30yr, 25 down, 5.125 rate, my payment 280.  After mortgage, tax, insurance payment I will be positive 366.

What should my purchase price be?

Hi Nathan,

At this time I am the only buyer.  I am not looking to pay asking price, I am going to give an offer I see best fit for the situation.  But my question is, I should only provide a pre approval for my offered amount, maybe a few thousand more?

Hey Folks,
I have 2 properties I am interested in, 1 is on the market, 1 off market, same seller. 1 is listed 45k, I am coming in with 35k offer.  Second asking 70, I am coming in at 55, probably expecting a counter.  Been on the phone with BOA, local credit union, J Went for quotes on 10yr, 12yr fix balloon.  

My question is, if I am providing my realtor with a pre approval, what amount should it be? Exact amount of the initial offer? A little more?  I am confused on If i am pre approved at 120, but going in at 90 lets say, the seller knows I can go higher, this seems to me as an issue in negotiations.

Please help.

very nice.