All Forum Posts by: Michael P.

It's hurts when you I see 30-40 properties and all need ton of work and they r not in the best neighborhood. Is it crazy to buy in a good place for retail or just below for rental holds. The biggest issue is not being able to cash out bc only putting 20 percent down. After a few properties I'm out of cash for more. Is buying a property move in ready at 95k that's worth 100k a terrible idea, bad idea, or is it ok?

@James Wise I cant find a deal for my life.  Most properties I walked are not livable, requiring specifics that a conventional mortgage wont allow.  Properties I am seeking through zillow are mainly listing at retail.  I am getting to the point to just give up.  I have see lots of properties in a specific affordable housing area.  

@James Wise Question to you...
Is it dumb to buy @ retail even if it cash flows?

@Ali Boone I am primarily focusing on the Philadelphia market.  

I have a partner I am about to start purchasing properties with.  We are 50/50.  

We are considering larger deals, additional deals, in which case we will need additional funding.  We have 2  friends with high net worth's potentially coming in on deals with us.  The two individuals value is strictly funding, as my current partner and I are the ones seeking out the deals, visit the properties, walking them, analyzing them, working with realtor which takes most of the time.  

How would you break down the percent structure when bringing on additional funding/partners.

I have raised my bar of purchase price to a rental unit.  Seen many properties, if they are cheap they come with issues and need to be fixed, full overhauls.  I found a house, cost 100k, done great inside, nothing needs to be fixed up, totally turnkey, should I pull the trigger?  No comparable comp to the price.  Not within at least .5 miles.

I am on the hunt for my first investment property, can't house hack, I own a home. I am originally from Philadelphia, I am now 35 minutes outside of Philly. I found a few areas that are affordable housing, homes ranging from 38-120. I wouldn't classify the area a war zone, sure they have assaults, robberies, a homicide here or there but overall nothing crazy. Should I jump into a property I feel has good cash on cash that requires minimal repairs going into it, it's also tenant occupied long term section 8. I don't mind voucher tenants. But I think to make good cash on cash I have to go where tax is super low.

Tell us all how good your cash flow is on a single door or multiple doors, include your loan amount the Cash flow is referencing.

@ AndrewJohnson I agree with you. I feel that anything below 85-90 could be more hassle.

Seems to me when I look into buying a 60k house it comes with issues it's potentially on its last leg in a neighborhood that is consistent with the same issues in the same price point. When going up to 100k you are getting basically turnkey and not much to fix up. What do you think an investor should do? I'm after cash flow not appreciation.