All Forum Posts by: Robert Campbell

@Justin Tahilramani I’ve just started looking in Fayetteville. Lots of inexpensive properties there. Anything I should look out for? Good or bad? Thanks!

@Martez Bynum if you have any specific questions, I own a marketing firm that specializes in direct mail marketing. Postage questions, specifications, vendors, lay your questions on me if you’ve got ‘em!

The apartment is listed for $27,000.  It DOES have new appliances and HVAC, but is over $5,000 more than the other places that are identical in the same complex.  I have one rental property, but it was a house I bought when I was young, so I've never made an offer on a property solely for a rental.  

So the numbers shake out like this:

RENT - $750

HOA - $329

Taxes/Insurance - $60

Vacancy @ 10% - $75

Prop Mgt fee @ 12% - $90

Total - $554

Cashflow - $196

So I've worked up three options to offer the seller.  I've never done this before so I'm doing my best to come up with something fair.  

$24,000 offer - Seller financing - $300/month for 96 months which is at 5% interest

$21,000 offer - $10,000 down - Seller financing - $125/month for 108 months which is at 5% interest

$18,000 cash offer

Am I way off here???

I’m in SC.  

@Melvin List can you give us some names of these lenders?

@Don Konipol can you give us some names of lenders to check with?

I’m looking into the possibility of buying a quarter share of a property in Hilton Head, SC. It’s around $50k. Does anyone have any experience with this? I’ve asked for rental history. I would probably mostly rent this, but may use it occasionally. Any pitfalls? What questions should I ask the agent?