All Forum Posts by: Rafael Floresta

Put a link to the listing, and let the local people from BP help you with a asking price.

You can certainly get a list of the properties if you go to the tax collector's office. I would give them a call before, maybe they can point you to a website or something else, so you don't have to go there every season.

Dont forget to, post a update here on what you find!

Just in case you dont know it, BP has a calculator for rentals.

I would also not put a lot of value on the "current tentant" and current rent value.

Do your own research on how much the rental for the area is, and how much people are actually paying.

A lot of the horror stories from tenants are from "inherited" tenants. Once they are in, it is hard to get them out. And if you didn't do the due diligence, you really dont know how good they are.

I personally rather buy a vacant property than to buy a "already rented".

The only already rented I'd be interested is the one that has a long term renter with a new lease.

I don't think they handle one off properties investor calls. They usually sell in batches.

Do you have your own full time crew?

You will be responsable for the income tax on his part of the rent, be careful.

Get a loan from your mom for 10k or something.

Mike, are you saying you give the sellers a ballpark number before you see the property? That is not a bad idea.

@george, we were talking about ARV because that is how she was approaching the transaction from the start. I am sure if I had told her my offer, she would have been more offended and maybe not even answered my phone. I am not very experienced so I'm willing to spend a but more time than most, but it looks like a time waster.

I called her today and told her how great rental her house would be. I told her that if she wanted to do a partnership, we could work something out (Sub to). She was interested, and she said she talked to a realtor and will first try to put it on the market with a short term listing. I guess time will tell. I have never done a sub 2, but I'm sure I can figure it out if she contact me again.

@Todd Plambeck thanks for the suggestions. I did tell her I am available for whatever she wants, told her that if she wants to use my contractor, I would gladly introduce them. I even told her if she wanted to run the rehab herself, I would show her what I would do. This is my farm area, and if I am not getting a deal, at least I would benefit of have some more good comps around.

That said, I highly doubt she will. She is expecting her husband that lives 2 hours away (the reason she wants to move to another town) to slave himself into these projects.

I will keep touching base every month, and slowly I will either piss her off, or keep a counter on her head of how things are not getting done.