All Forum Posts by: Robert Curls

Hi Lilian

Some items to check out that I found very beneficial:
The BP ultimate Beginners Guide can be found here
Check out the BP Podcasts They are an amazing source of information
I also recommend reading J. Scotts book published by Bigger Pockets which can be found here
As well as @Brandon Turner book "The book on investing in real estate with no or low money down" Its also in the running for longest book title ever. In all seriousness its a great book.
Best of luck

Welcome to BP! I'm an investor in the Tampa area, if you're looking for cash flowing buy and holds I'd look towards the outer areas of Orlando or Jacksonville. Especially if you're planning investing from across the country.

Some items to check out that I found very beneficial:
The BP ultimate Beginners Guide can be found here
Check out the BP Podcasts They are an amazing source of information
I also recommend reading J. Scotts book published by Bigger Pockets which can be found here
As well as @Brandon Turner book "The book on investing in real estate with no or low money down" Its also in the running for longest book title ever. In all seriousness its a great book. (but the audio book could be better) :)
Best of luck

Hi @Wes Eaves  I'd look at it from the perspective of the investor.  Would you do a deal where you put out $168K and got an annuity of $700 for 30 years, plus a balloon?  Your basically looking at 3% interest.  

You could structure the deal as interest only and pay $700 but that would be 5% interest, not that great for the note holder.

Its not in Pasco but in Pinellas, Gulf side Title is great.

@Shane Clark could the Tampa property still cash flow if you took a loan out against it?  At a value of 70K getting a loan of 70% value would give you 49K that isn't taxed.  Also you'd be looking at $263 mortgage payment if you had a 5% interest rate and 30 year amortization.  

My guess is if you sold the property you'd be looking at about 60K cash in pocket after closing costs / realtor fees.  I wouldn't think the 11K would make that much of a difference when it comes to down payment for your multi-family.

I probably wouldn't.  I'm not sure of the local laws in Baltimore but other advice on the topic that I've seen on BP is to follow through with the eviction continuing the process. 

My experience has been that whenever you represent that you're going to be living in the property part of the closing package includes an affidavit that states that you will live in the property for at least one year.  Beyond the one year you can do whatever you please.

I'm a firm believer in always acting with integrity, (even though Banks may not).   If you don't want to live in the property you can still get a great fixed interest rate on a long term loan, you will just have to put 20-30 % down.

Welcome to BP Dustin

A great way to get started that is brought up quite often on BP is house hacking. You basically find a small multi-family property (I'd shoot for a 4 plex if you can). You're able to obtain FHA financing which allows for a small down payment (typically 3%) and then live there for a year. You'll have a 30 year fixed low interest mortgage on the property and with a 4 plex you should be able to cash flow quite well (if you buy right). After year one go do it again, after 4 years of doing this you'll have 16 rental units and will have maxed out your 4 traditional loans. From here you can start getting creative.

Some items to check out that I found very beneficial:

The BP ultimate Beginners Guide can be found here

Check out the BP Podcasts They are an amazing source of information

I also recommend reading J. Scotts book published by Bigger Pockets which can be found here

As well as @Brandon Turner book "The book on investing in real estate with no or low money down" Its also in the running for longest book title ever. In all seriousness its a great book. (but the audio book could be better) :)

Best of luck

We supply kitchen appliances for all of our units, on the SFR's we supply dishwashers because they are in nicer neighborhoods where a tenant would expect it. I've offered to rent W/Ds to tenants in the nicer neighborhoods as I can buy a used set for $40 and rent them for the same price per month, but the tenants typically have their own.

I'm also entertaining the idea of getting a whole house service contract for all appliances including the AC, plus plumbing.  There is a company in my area that it looks like it will cost me about $400 a year per property but after this week I would welcome that "insurance" as I just had a large unexpected AC bill.  The idea here is when something breaks the tenant calls the service company, not me.  Its a local business, not a national service which gives me more comfort as I'm not a fan of "home warranty."

Welcome to BP Latasha

Its great that you're looking to find a mentor, always try to provide value to others and you will go far in this world.

Some items to check out that I found very beneficial:

The BP ultimate Beginners Guide can be found here

Check out the BP Podcasts They are an amazing source of information

I also recommend reading J. Scotts book published by Bigger Pockets which can be found here

As well as @Brandon Turner book "The book on investing in real estate with no or low money down"  Its also in the running for longest book title ever.  In all seriousness its a great book.  (but the audio book could be better) :)

Best of luck