All Forum Posts by: Ryan R.

The mortgage and payment do not make sense to me. Is this an interest only loan? 

If she hasnt been paying the mortgage, has she been paying the taxes? Insurance? Are there any liens on the property? 

How do you get rid of the son? I doubt he will leave easily.

How did you come up with $7,000 in repairs? 

Nothing about this sounds like a deal. 

@Larry Turowski yes you are. You're welcome. 

I like it. Great story. I hope I can be like the seller one day. 

The realtor.com iPhone app does let you search for exact number of bedrooms; I think the app on my iPad functions this way too. 

There's a bar that lets you drag up to minimum number of bedrooms and you can drag the bar back to limit it to that number. 

Sounds like you may have a winner here. 

Yes, I would. I do not rent to anyone without proper vetting. 

Find the best inspector in town, pay more if there's one that comes highly recommended. 

I'm always leery of these types of deals. Owner lets deferred maintenance build up over the years, when things are coming to a head, the owner finances it to someone with a substantial down payment and puts them on the hook for the major repairs; and he hopes they eventually walk.

I'd be interested in the property analysis. 

Do not worry about perceptions. Move forward with the first applicant since she was indeed first, she was referred and the fewer occupants residing in the property the better. 

I keep showing my properties until I have secured a lease and deposit. 

Sounds like a good opportunity to build a long term partnership. She's becoming more interested in the business; that's a good thing. 

I'd sit down with her one on one and discuss the business model, acquisition strategies, your analysis technique etc. She just wants to be more involved, alot of us investors would appreciate a partner who wanted to dig in a little more. 

Great story. Sounds like the market timing was on your side too. 

How's the market in Lancaster? I was out there a few months ago and it didn't seem like buy and hold deals were profitable.