All Forum Posts by: Michael P.

I am investing in Philadelphia.  I presume I provide the lease obviously, lead paint disc.

@Aaron Phillips
Do you have the link to the deal details? I would like to hear all about. Costs, ARV, how much down, type of loan, rental, flip, cash on cash.

What documentation do you provide a tenant who is about to sign a lease agreement with you.

@Levi T. All to hold?

@Levi T. 3m a year purchase... you're the man. 

@Frank Inman

I am going through this now. I have been going back and forth a few times on offers for a property.  They wanted 50, I said 35, I said 37, they said 40, and yesterday they accepted at 38 after 45 days.

Loan amount will be 30,4 @ 20% down.  Current tenant paying 785, leased until Dec 2018.  Overall cash on cash is high, and the monthly cash flow is very nice.  Tenants are happy. 

House is around 90 years old.  In the basement its high ceilings, not finished.  Regarding foundation issues, I have a concern, but who do we call to get the foundation inspected?
 

@Jason Dhanraj also if your bank appraisal comes in at 80k, why would the person want to sell for 50 you know.

My offer is contingent upon inspection.  I am giving my deposit for escrow for them to hold, but I want to get inspection overall, and someone to clime on the roof and tell me whats up.

@ Levi 

@Levi T. Thanks for your feedback.  You use the software or just the background service?

@Tom Ott I agree with that. Thanks for the reply.

Section 8, money 1st of the month. You can keep a profile on what type of tenants you want.  I prefer older tenants if possible, who wont cause issues or damage.