All Forum Posts by: Poe George

I will be looking into setting something up in the coming weeks.  I need to get the logistics down and then pick some dates. I will keep you all updated. 

Hi Collin,

I use it all of the time, and it is worth the money.  I would recommend purchasing the gold package.  Even though it is $50 a month, you get 50 greetings cards for free (just pay mailing postage) and you also get free unlimited postcards (just pay postage of 37 cents each).  The lowest I could find at other vendors was 70 cents.

The best part is that you can send future mailings so if you are doing a drip mailing, you can set it up once and the mailings will go out on the days you specify in the future, just set it and forget it!

Did you have any other questions?

I use RPR, but it's only available for realtors

What kind of repairs does it need? Can you chop 10%-20% off of repairs?  Like others have said, if you aren't 100% on point with the ARV, you could lose big, as you will have to deduct any difference out of your profits. Add in real estate agent commissions, closing costs, carrying costs, and unexpected costs and it could get ugly.

Weigh the benefits vs the risks.  I don't see you getting much out of it besides a damage deposit and keeping the tenants.  On the other hand you just listed 4 or 5 good reasons not to let it happen.  It's all comes down to what your tolerance level is.

I would be interested, also.

Thanks, I was asking because I know it needs a new septic system but haven't been able to go inside yet due to the virus.  Just trying to get my ducks in a row.

Hello all,

I was wondering if anyone has any experience with getting inspections done with a FHA 203K loan.  I know the FHA is pretty strict when it comes to inspections (no peeling paint, no holes in walls, etc) for a regular FHA loan but was wondering if they were a little less strict with a 203K loan since it is obvious the house needs work.  Would love to hear from people who actually had a 203K loan but will welcome input from all.

Go to rentometer and figure out what market rates are, and go from there.  You should always aim for your cash flow to be more than your expenses.

@Mark H. Porter  I am researching potential properties to purchase and just want to see cash flow to see if it's even worth pursuing.  I am just trying to find the needle in the haystack before I approach anyone.