All Forum Posts by: Rhondalette W.

Welcome to BP neighbor! If you have specific questions feel free to post and the experts will chime in. I am not an expert ; ) but will give you my 2 cents too. Have you and your husband already identified a specific property ?

I'll have to come clean-where I invest has a great base of college student renters where you can charge per bedroom.

My typical analysis is I want at least 30% cash flow, after all expenses. To be honest, I typically don't invest any money when buying properties-I find ones that need to be fixed up, roll that into the mortgage and buy them with no cash out of my pocket. So this one is slightly different for me-actually having to put cash down on the property!

 Great point !!! you see .. this is what folks mean by . .one deal for one person is not necessarily a great deal for another.. eg.. you can buy a home for $1k in MD .. sure riots and all. but they will stop rioting soon..  but I'd buy properties all day long for $1k.. and then sell them on craigslist  for $1k down .. and payments on the other $9k .. I make my $$$ back. and now rent to own it paying me $500.00 a month .. i'm your bank !! . at 7% interest.. You stop making payments. I get to evict you . put the ad back on Craigslist. for another $1k. .and start over .. but the last guy that was there did a few improvments. so now i'm selling it for $15k  .. now $14k in financing to the 2nd guy.. if there is one.. but you see it all depends on what/how you want to make $$$..  I have a friend who buys these properties like this all over the  country and puts ads in local papers and sells them to folks. 

I remember the 1st time he did it.. he said.. some guy called him from Kentucky or wherever the house was and asked if there was anyway to get the keys to see the house. my friend said. GO right on it. there is NO front door on the house.  the guy walked in looked around called him and said I"LL TAKE IT..  .. he gets all kinds of checks every month in the mail on these properties.!!!

I'm curious about neighborhoods as it relates to turnkey/ buy, fix, hold purchases. Most of us have preferences for A, B, C, or D neighborhoods when it comes to investing and rule out the others. My hunch though is that especially when it comes to having other people manage the property and headaches that we really don't care as landlords about what neighborhood the property we own is in, but rather what the best predicted return on investment is. There seems to be a relationship between better neighborhoods and more rent with less destructive tenants and expensive vacancies, but also an increasing price that tends to go up at a higher rate than the rents. Assuming headache was not an issue, what would be the best long term ROI in a city with moderate economic and population growth? Let's ignore taxes and property management costs. All houses are rehabbed according to code and ready to go.

In this scenario would you rather buy a $25K SFH in a $500/mo D, a $40k in a $700/mo C, a $55k home in a $900/mo B, or a $130k in a $1200/mo A?

  I just wonder sometimes if almost every property I see listed can be a good deal at the right price.

Tyrone, I think you have to set your buying criteria and stick to it without being seduced by low prices. Just because a property has a good price it doesn't make it a good deal. You can look on Zillow.com right now in Baltimore MD "home of the recent riots" and find a house to buy for $1K (one thousand dollars) does that make it a good deal? The way you will determine if it is a good deal is to look at your goals and set criteria. For me it would be an awful deal. 

@Rhondalette W.

https://www.youtube.com/watch?v=xKQTha0_Yno

Here is Joint Venture with the seller talk, 

I hope you find it helpful.

Best wishes,

Brian

@Tyrone Jackson The short answer ....  Investment deals are the ones that need extensive work.  These are the one in a hundred.