All Forum Posts by: Ravi Rai

Hi Guys,
We have agreed on a purchase price for a two family house in a college rental area and if the inspections goes well we will be buying our first investment property. I wanted to know if any of you have parents co-sign a lease (these are all college kids). The reason I ask this is when we were looking at properties one of the owners said she insists on parents also co-signing leases for their kids. I have not heard of this and wanted to know how you guys do it.

Link did not work for me either.

Sorry to hijack this thread but Robert, I would also really appreciate if you could email me the spreadsheet. I am a newbie myself and this would be very handy.

Hi Joel,
Really appreciate the reply and you have asked some real good questions for me to get answers to from the agent. It is a zoned two family and has a walkout basement too. I was thinking I could put a coin operated laundry there or convert it to a studio if and when my income permits. It has had quite a few updates done (windows, appliances, heaters, sheetrock, new plumbing and wiring) over the fifteen years that the current landlord has owned it but unfortunately all units in that area are old. I will find out about the Billboard thing. The landlord is an older gentleman who has three properties and is planning to retire.

Hi Guys,
I have been soaking the great information here for the past few days and this my first post here.
I am planning to go and take a look at a two family home that brings in $600 and $580 a month rent and has another $2500 a year in billboard income.
He has listed it for $110,000 and if the house looks OK I am thinking of making an offer. The location of the place is right where i want it to be but my only concerns are that it is a old house with a flat roof and is built in 1890.
If I understand the 2% rule i should I be offering him 80,000? I was thinking of making an offer of around $70,000 but do not want to make a really low ball offer. Any thoughts and input will be really appreciated.