All Forum Posts by: Troy Gravett

Originally posted by @Jacob Casarez:

@Troy Gravett Can I access 4 plexes sold in the last 30 years on MLS or do I need an agent?

you'll need an agent to run that search for you. i would do it but im only licensed in ca. perhaps one on here could help you out?

1) property radar. they cover your area. 2) search MLS for all sold 4plexes last 30 years

perfect timing https://itunes.apple.com/us/podcast/cardone-zone/id825614458?mt=2&i=362053720

Originally posted by @Account Closed:

Originally posted by @Troy Gravett:

2) You all move out and rent something cheap for a year and turn the two houses into rentals. 

Grandma owns $1,000,000 of CA property free and clear with tax bases that incur $1,000 TOTAL property taxes per year, a savings of $11,000 plus per year. 

Grandson, "Grandma, let's move someplace cheap for a year and then move again"

Grandma, "Go F yourself, you are out of the will.".  LOL

http://www.zillow.com/homes/for_sale/fsba,fsbo,new...

Lol  that's why I laid out two options. 

First off, I commend you for what you're doing. But why do you want a $700k house? After you refi at $900k, it's going to be a huge drain on you each month with the mortgage payment.

Two ideas:

1) 1031 exchange the property you're currently living in and use the $500k as a down payment on a $2M apartment building. Then sell the other house your g'ma is living in and use those proceeds as the down payment for her next personal residence.

2) You all move out and rent something cheap for a year and turn the two houses into rentals. Wait one year and then 1031 both properties, you'll have $1M to use as a dp for a $4M apartment building. That building should net you guys enough to find somewhere comfortable to live.

go to amazon and type it in and read the reviews. thats how i choose which ones to buy. theres some really good ones ive read for retail and apartments.

Hey Sam, sending you PM

You don't need validation from anybody. Set huge goals and go execute. You don't need permission to be great. Go crush it.

Christine is 100% correct, the bank makes the final decision, not the homeowner. for that reason, don't worry about offending anyone just make an offer to the bank you never what theyll accept. You have to assume it needs a full rehab so work your numbers as usual. If it needs 40k rehab, costs will run about 20k, and a 30k profit puts my offer price at about 50k. Thats what i would do. is it even worth it any higher than that? i guess it depends on what arv is.

@BrianMathews 

makes a great point as well. Depending on how much work, it could be a capital intensive project. How much cash do you have to work with?