All Forum Posts by: Pat Danaher

@Ricardo R.  Thanks Alex.

@Ricardo R. Can you provide the online rental payment system you are using that only pays you once 100% of the rent is collected?  I have a similar situation, 3 non related tenants, and I am trying to find the best way to collect one payment and let the 3 of them work out splitting it up. 

Thanks Pat

Curt-  Thank you for the information.  I will have to read up on "subject to" and

"sell on a lease and an option" as I am not familiar with those options to use as a strategy.

Charles-  Thank you for the many different options.  The process of using a public action while I had the property under contract is very interesting and one I have not thought of before.

Andrew Michael-  Thanks for the different options especially owner financing.  If I can't get the deal done then all the parts were not there to benefit both parties; and I can't look at it as I am not able to help that individual.

Andrew

Thanks for the information.  Networking now  probably be the best so that I have options once something does come along.

Hello,  I am a buy and hold investor looking to acquire rental properties in the Maryland area.  I am establishing my marketing list in hopes to find motivated sellers.  One concern I have with marketing is what do I do if I find a motivated seller that agrees to the offer price?  I don't have the cash for a typical 20-25% down payment at this time and I have other properties along with a  9 to 5 source of income; so banks are not providing me much in loans for investing.  My issue is that I would like to have options before finding a motivated seller (I will call it what it is, I am scared not knowing what the next step is).  How would you recommend starting a marketing list when one doesnt have the funds to close on a property.  I don't want to find a deal and not be able act on it or hurt my reputation of not being able to help the people I marketed to.  Examples of how to proceed after marketing in this situation would be helpful.

Thanks 

Pat

Wow, $5k eats a good bit of cash flow. Either way its going g to hurt. I would have to agree with James, find one needing less work, if possible.

Hi Brent,

One miss conception with asbestos siding is that it needs to be replaced.  Asbestos is really only hazardous when it is airborne.  If the siding is not chipping or breaking apart there is really no harm.  I am not an expert but what I learned  through home inspection process is that if its not in bad shape where it will b in the air it doesn't need to be replaced.  Please consult an expert but by not spending the 15k right now could make the deal a little better 

Pat

Andrew, thanks for the different sites. City-Data.com is a new one to me, I really like how it presents alot of informaiton visually and statistically. The break-down of homes owned or rented is a nice feature to guage the area. Just have to becareful how one interperts the data. Really Appreciate the information.