All Forum Posts by: Rod Joseph

 Google <your county> property tax assessor office.  They will usually send the property owner a bill.

I think you need to wait until you have more equity in the property.  Channel all your cashflow back into the property that you can afford.  Of course you have to keep enough for reserve capex.

A little patience and look for the next deal at 70% LTV.

Thanks, but I am intentionally going after multi-family.  Closing on a duplex end of month.

They are few and far in between.  I own 2 duplexes in Gwinnett county and always on the lookout for more.  The asking prices are getting higher and higher.

@Brandon Sturgill  I was just wondering what you ended up doing with the section8 income requirements.  I am going through the same issue.  

@Marcia Maynard  Its true that the tenant portion could fluctuate during the course of the lease.  If we look at tenant incomes in general, with or without section8, there is no guarantee that there income will not fluctuate during the course of the lease.  We are looking at a snapshot in time.  Same applies for when the bank gives someone a 30 year mortgage.  Life happens, we are all taking calculated risks.

How did you source your deals? MLS? / Direct Mail? / Referrals?

If those were my only choices, 1)Turnkey and 2)Zillow/Realtor.com,  I would choose turnkey.

With a reputable Turnkey operation, there is hope that the property was bought at the right price, repaired properly and have tenants.  So it is ready to go.  So now you have a property that is below market value in pretty good shape and instantly making money from Day 1.

With Zillow/Realtor.com, you have to negotiate the price, fix up the property if needed and then maybe have to get tenants in place.  Any miscalculations in those steps and you are losing money from Day 1.

Can you share how you found that deal?  They are rare in Alpharetta area.

Nice job.

"Progress not perfection" are the words that come to mind.