All Forum Posts by: Vik Ari

I have a pool of tenants inquiring to rent and one of them is a 71 yr old senior citizen. What are the pros / cons of renting to senior citizen? What do I need to ask besides the usual stuff like income proof? If anybody has success renting to senior citizen, please let me know the pros and cons. I am new to this. Pls advice. Thanks

Thanks Brian,

The paid down by half idea sounds great...I will do the math and see. I am sure people are in the same boat as me....what are they doing? Waiting it out? or putting down more money...would like to meet some people on this forum in the same situation as me...and know their thoughts on what they did?

Thank you

Thanks Nathan. That's a great idea. However, I am time constrained. I may have to move to Europe for job transfer next yr and will be in the US once a yr, so I don't want to invest in another property. Plus I don't want to lose out on this one. So, my aim is to buy it ought right, and generate cash in next one or two yrs and then sell it, so I break-even at the very least. Your idea is great, but I have time issues. Please let me know your thoughts.

hi,

i bought a rental condo for 160k and its a down in price around 130k. its rented out and it covers my mortgage, taxes, fees and costs. I was looking to refinance to lower the month payment on my mortgage, but I though if I pay of the loan, then it will be better for me, i can get better return and sell in future quickly. Can someone help me understand when is a good time to pay off the loan and when it is not?

Outstanding loan: 120k
Rent: 1250/mnth

vik

send me a pm if interested in sharing acct

how effective is loopnet for listings? anybody benefited from membership.

also, anybody interested in sharing an account, its working out expensive for me

I own residential investment property and am looking to venture into commercial. Looking to start with a small strip mall with 2 to 3 stores.

1. Where do I find listings? What are the best sites? Loopnet etc...Are there any good free ones?
2. What are the steps/things to look out for when investing in commercial?

I have access to my local county MLS but there are few comm properties listed there

pls help thank you!

vik

great info, thank you all!

thanks you guys

jon, the problem here is that the property has multiple cash offers and if I need to buy it I will need to do an all cash offer. however, i want to later do a cash out refi, since i want to use the money for down payments for other properties in the future. spoke to a couple of lenders they said its hard in this mkt to do this on an investment property

your thoughts? should i go for it?

hi all,

let say i buy a property cash for $100,000. once i close can i finance it with the bank for 80000 and keep 20000 equity. the reason i am doing this is because i am getting a really good deal with cash so i want to close with it then finance. so i can use the 80000 to buy other properties.

gurus, pls help asap!!!!

vik