All Forum Posts by: Vinod Dasani

@Vijaianand Thirunageswaram - What kind of place would be suitable?  I havent been to any meets before so not sure what would work best in terms of number of attendees, cost\budget for the place etc

@Jordan R. - I personally dont think its worth the efforts. If the property is not cash flow positive throughout the year I wouldnt bother. The plan you have to reduce the bill requires money and that investment then adds to your price. Have you calculated the cost for getting that work done? Doesn't the new investment then reduce your ROI during the summer months too then? Moreover you cannot guarantee that the bills will in fact go down and by how much.

@Kindrell Hutchinson - As others have said the Interest rate seems high so that is one area that you can further negotiate on once the appraisal is in and value comes in lower than you agreed upon.  Negotiate both price and interest rate at the same time.  Also, I would definitely recommend 3 separate loans rather than a bundle mortgage.  If for whatever reason something goes wrong on one property you cannot do anything without risking the entire portfolio.  Selling one property of the 3 and getting that approved and in writing from the landlord is ok but doesnt cover you in all situations so I would strongly suggest 3 separate loans (1 per property).

@Isaac S. - One other benefit of buying the property is your ability to claim depreciation on the building which reduces your tax liability.  However, you also have to consider what out of pocket expenses are there now that are being paid by the landlord e.g Property Taxes, Maintenance, Water etc and then see if the 1-2% rule works for you if not then negotiate the price

@Matthew Cretzman - All the best.  I am only investing locally at the moment but seems like you have quite a bit of interest so you may want to consider Wholesaling these :)

@Matthew Cretzman Pick and choose that work best for you.  If they are leased and cash flow positive then I would say go for it as long as you are getting a deal on the price.  He\She doesn't know any more than you so its all speculation.  Even if market crashes in Houston it typically may not fall more than 10% (given the location) and even then rental market remains strong.  If you decide to pass on it let me know as I may be interested if the properties are in Houston or surrounding.

@James Trower - Which area is the condo?  Keep me posted if you decide to wholesale it.

Any reason you arent getting it financed to begin with?  Have you tried hard money lenders if banks arent willing to finance.  They will still be much cheaper compared to your investor.  In short your investor is making a killing on his\her investment.  And as I said unless you arent able to get other financing options and only if the deal is simply great to pass up on I dont think its a good investment for you.  

That is a great deal for the investor.  I dont believe its a good deal for you unless you have no other means to obtain financing and the deal you are trying to close is simply amazing.

@Vijaianand Thirunageswaram - I am willing to help out.  I havent been to the past events but as long as there is an agenda and sharing of valuable information I am sure it would be successful.

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Southwest area (Sugar Land, Missouri City, Stafford)