All Forum Posts by: Varma Adduri

I don't know any agent who will do for less than 1000$ in Ernest money. Bet bet is to look for sale by owner. It's very hard though? Why are u stuck on 1$ down? Isn't getting a cash flowing deal more a priority? Just curious.

Often your first deal may not be your best deal but if you use the above guidelines chances are it will be a decent investment. After you get your feet wet, sky is the limit. Place that first offer. Good luck

Best solution is to start ASAP. Use bigger pockets calculator. Use 7% for vacancy 6% for repairs, 6% for cap ex and 9% for property management. If you are still cash flowing 100-200$ (preferably 150 min), place an offer.

It's a fact that we cannot get the same deals that we got 3 years ago. Having said that, the rental rates have increased too. We have to look harder for deals. I think it's not purely investors. It's combination of economy, jobs, low interest rates and finally investors that factor for the growth

Hi Alex, it's a fairly common thing for sellers to rent their place until their house is completed (in case of new construction) or find a suitable house. You can ask them if they can 100$ + PITI. It's just 600$ for the seller not a lot for peace of mind he would get. After 6 months, write a condition to increase 200 to 300 more. The lease should have liability covered by the seller. It's just that you can postponing your cash flow for few months. I know many people who did this strategy. I would do it too.

Wholesaling contracts are state specific. You can get lucky in the "files" section of BP.

For my first 3, I used conventional financing. They give a better rate. PNC, wells, quicken etc The exception would be if you are buying a 5 unit or more or buying in the name of LLC

I thought half month for new lease, 8% management fee and 75$ lease renewal is standard. Please correct me if I am wrong

200 less per month times 12 =2400$. Is 1 month vacancy cost you 2400? If you find a good tenant paying full price next month, that will cover up the yearly loss of 2400$ That's your answer right there

I am interested. PM me the address when you have them on contract