All Forum Posts by: Sarah Brown

Real estate school will not teach what you need to know about being an investor.  I agree with all the things @J. Henriquez said.  Not enough advantage for the liability you incur.

If you are paying for materials, then consumables would arguably get paid in that also.  Take what he doesn't use at the end of the job. 

The market could just as easily continue to increase over the next 6 months, and then you are in the same exact situation as right now.  What is your long term plan? Generally when you buy and hold a property, it is going to be for an extended period of time.  Markets will ebb and flow.  If you are holding long term then appreciation tends to be consistent. 

I would chat with your CPA. 

Not everyone likes to inherit tenants.  They are kind of a mixed bag on what you will get.  If you do decide to go that route, make sure you do some due diligence on how they keep the property, how consistent they are in paying rent, and what their lease looks like.  Are they in a lease, or are they month to month?  All play important factors.  

 All of the above yes.  25% down, 20-25 yr note, and last I heard I think rates were in the high 4's.  I don't focus on this area, so no promises on that rate, but it should be close. 

Did they actually go into foreclosure, or was notice of default just filed?  

Dang!  Tough gig.  I would reach out to my attorney and ask my options.  

On a side note, I would strongly encourage better screening process to prevent this in the future. 

Looks great!  Well done

You will need to look into a commercial loan to have multiple properties attached to one loan.  Otherwise, you will need 1 loan per property.  You can ask the owner to carry and receive payments on the portfolio, or find a private lender who may be willing to do it also.