All Forum Posts by: Sean Cassidy

You did the right thing getting the inspection before you closed. What if you'd found a major issue, like a sinking foundation with a 40k price tag to repair? 

@Scott Houin, I'm with @Ralph R. on this one. SHHHHH I'm doing similar and I don't need the competition yet.

Just finished a 3 plex I got for 40k. Put 25,000 into it but did it on interest free CCs, and only put 4k down. I've got 3 more in the pipe now, and could do 6 more just like it if I had more hours in a day and dollars in the bank.

Congrats!

My grandfather told me a long long time ago. Find the things no one else wants to do, and do them. That's where the money is. I've followed that advice and more often than not, it's true. 

I don't have experience in this, but I want to start by saying I hate you so much right now. I mean, congrats on winning the lottery.

Have you considered calling a Rent a Center or similar and seeing if they could give you a bulk deal on everything you'd need to furnish the place for a week? I bet they would, and then you'd have an idea of what it'll cost to get set up.

@Daniel Walker I was just razzing you. And to be fair, my accountant once told me he could make money at any asking price... Provided he had complete control over the terms of the loan. 

(So you know, 0% interest spread over 100 years... LOL)

I don't even understand how you took the time to run the numbers on this. My spreadsheet would have turned red before I get all that in, and I'd have moved on. 

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I'm in Maine and I love old buildings. Just make sure you check foundation and all the systems twice over. Make sure everything has been updated to modern standards or you're in for a nightmare. 

@Ryan Murdock 

Thanks for the tip, I'd never heard of them before. 

I have noticed that if you go north of Augusta you're pretty much on the moon as far as lenders are concerned.

One is a HML and the other is CU lender. Our property taxes are not too bad, but it is New England so worse than some. As for regulations, both guys are in state lenders and would know what they're dealing with on that front.

I'm not sure, I'll just find someone else I guess.