All Forum Posts by: Damian Howard

Hi BP,

Quick question about a possibe 6 package deal!

1. Having to do 6 inspections on each house wouldnt that be costly? How do you get around it.

2. Settlement on 6 houses has to be crazy, how do you get around all those fees?

Thanks!

Hi Bigger pockets, Question, I went to settlement to sell a house, long story short, we couldn't close, issue with title that that is being corrected. This is now costing me even more money if we wait to close in another month or 2... Can I change the purchase contract to reflect my added cost?I'm not afraid of the buyers walking due to location of the home-coop NY Harlem 4 bed 2 bath around $550, people want this place and I have room to increase the price......

Hi BP Just trying to get your "take" Almost mid 40's, and I have a lot of capital to invest. Although I don't have time behind me like a 23 year old, I want to perform like I've been in the business for 20 years and should have enough capital to do it.... if I could could get to $10,000 a month income after expense of course, is it possible? Looking at about $400,000 to start.

Hi Bigger pockets, A lot of investors seemed have started out with little or no money and have been successful. I want to start investing in passive rental income and will have a sizable down payment to enter the market. I will be looking into long term buy and holds. I am confident entering this market and will seek your assistance from time to time to help me through my journey. My question is if you had $400,000 to start out with, what would you do if you were in your mid 40's regarding passive rental income? With that kind of money, is it possible to quit a low paying job in a few years? Obviously you have to invest right but could you even pay all cash for triplex or other units and then use that income to fund others with a loan? I'm not looking for much,$10,000 a month after expenses would be ok for me!

I will start of by saying a kick *** realtor for the buyer got my house sold. With out going over all the details, I never listed the house for sale due to saving on the cost of realty fees. This is a house that didn't need to be listed due to is prime location. Once people find out that a unit of this size became available, 4 bed 2 bath NYC under $600,000, people came flocking. Issue is that I needed to find qualified buyers. This realtor pushed some buttons and was able to get the deal done. Do I pay the realtor the 3% that she is requesting?

Thanks

Thanks Russell, that is good information.

Hi Team

My home owners insurance on my  rental prop in Delaware is a bit high, paying about $1000 annual for an attached  townhouse. Trying to get a better quote because I think at the price, the insurance is a bit high..

Thanks

I'm also a Wilmington Delaware investor. I don't live in the area anymore but I'm looking to purchase additional homes in the city. Trolley Square may be out of my price point but I am willing to take a risk on some properties that are on the Westside and potentially the east side as well due to pricing. I have a house on W. 21st St. that breaks about even but hopefully within the next six months I'm looking to get into multi housing and single-family homes. I have found some turn keys under 100,000.

Sorry to ask this question on bigger pockets, but I think I need advice. Don't want to bother you with boring details but here is what I am looking at. I inherited 4 bed to 2 bath in Harlem NY. There is not mtg and I have not listed with an agent due to the cost and the ability of this apartment to sell its-self due to it's size. The coop just rejected what I thought was a qualified buyer and didn't give a reason why. This apartment has not been listed but through word of mouth people are submitting offers to the coop. I'm selling for $530,000. This is an income restriction 32 unit building. Don't quote this but I believe the income has to be less than120,00 for a family of 3 or 4 or something like that.. Now the apt is empty and if I sell the apartment the coop gets 15%, I get the rest. Should I get a Realtor? Keep in mind the maintenance fees are $1000 monthly, so each time a buyer gets rejected- only 1 for now, the past due maintenance fees build up and will cost against the sale of the apartment. The apartment inside is in Fair to poor condition that will need rehab but this place has old world styling. check it out 35 Mt morris park west... I can't put money into fixing it up because it doesn't mean I will get my money back because the board approved the buyer. I almost think the price is low. I need to find buyers that savings rich and income poor.

Hi, I am from northern Delaware myself. I don't live there anymore but I do have one rental property in Wilmington that I am maintain.Now looking at buying multi-family housing inthe city of Wilmington 19801-19802... Im sort of new to this myself and I'm about the same age... PM me.