All Forum Posts by: James Bitakis

@Nathan G.

This is a Federal eviction moratorium too? Wow, then even in landlord friendly Indiana, a crafty tenant can just stop paying without worry. Hearing this makes me pause and not buy a small rental. At least for now.

No I did not buy it.  I was too nervous about buying in that neighborhood.  

@Gavin Welch do they break even because they are not physically down there managing it themselves? My friend has 3, 5 bed 3 bath homes with pools in Davenport. But he lives there and manages all 3 himself. He makes a good living, nets about $3,000/house after mtg, taxes, ins., expenses, marketing, management (which he does himself). I guess property managers would charge 20-30% of gross bookings (but that includes the property managers doing all the marketing and booking too). Still, if it's a standout property, you could eek out a little profit, and still vacation yourself there a few times a year.

I just recently watched this Webinar by Kent Clothier.  He basically has a software system that allows you to find any vacant property in the USA.  Thus making it much easier to find off market deals.  He sells it for $1995 or 3 payments of $795.  Ongoing support, always updating itself, etc. etc.  

My question is this.  Has anyone ever heard of Kent Clothier?  Is he legit?  Is this software system worth it?  On the surface, I'd say yes as it cuts down dramatically on the time it takes to find this data on your own.

The whole idea of employers Demanding a degree before even talking to an applicant is why Colleges continue to scam the public and keep raising their prices giving less in return. If employers would look beyond the degree (which any Yahoo can get), & find out their smarts, skills, and work ethic, Colleges would have to reduce their fees and give more value to their students, as now employers wouldn't place ALL the value on the degree.  I have a degree and it's served me well, but half the classes they made me take were useless jibberish.

@Russell Brazil why wouldn't you hire an administrative assistant without a degree? What if they have administrative skills, have a good attitude, and are a hard worker? That's more important to me than a piece of paper.

Where the heck do you get a net $400/month AFTER mortgage,taxes,insurance,cap x,repairs,vacancy,prop. management? Are you putting 40-50% down??

6303796855 is the phone number of Dan. He is an electrician both me and other friends and family used. Excellent. Honest.

I am estimating 50K in repairs. The home is only 1120 sq. feet so I can't imagine it being more, but if it is another 10K like your example, I still make money, just more like 15K instead of 25K. I can deal with that. I feel that I need to get started and make a little as I've been in analysis paraysis for years of just looking for properties. 175-185K ARV looks probable based on 3 other properties in the same city, same sq. feet approx., sold for this much.

My plan is a fix and flip asap.  

Well, I'd like to use a conventional loan, but is that possible with fix up needed?  If not, I would probably use a line of credit I have that is a low interest for the first 2 yrs.  4% rate.