All Forum Posts by: Naseera Mohamed

Cdnt help laughing at what you commented :) I know its too dicey for me and my husband flat out says no because he wants to have nothing with the neighborhood , whatever the potential to make money !

No -he evicted one of his partners from one of the properties for not paying the rent. He has some agreement drawn up which makes the rental agreement separate from the ownership -not sure how his lawyer drafted it .

Zillow says its worth 137k.Going to see it tomorrow-Will let you know what I find

Situation :

A seller just called-He owes 3 years mortgage on the house -68K.

He wants 3K in his hand . Wants 71K as price total, as it is still not foreclosed upon .

What do I do -how can I negotiate this deal into something profitable? Can I go and negotiate with his bank?

the owners are truly motivated.

on questioning, the reason I got , for the drop in price, was that it was because it is on the river, it needs flood insurance which has become unpredictable nowadays . It is in 100 yr flood plan .

I was toying with the idea of offering 175k and renting it out for 2500$ which is in keeping with the comps . ....I checked the flood insurance-it's 2000$ a yr now.

Congratulations! And I thought we were living the most interesting house-purchase ever!

This is a house in a great school district in ,xNorth Jersey that has come back on the market after coming out of contract. The price has dropped from 249K to 199K. Sellers are motivated. 3bdr/1bath. Great Move-in condition . Taxes 8800$ -can be appealed to lower after purchase.

I think the reason for the low price is the location-it's just overlooking the river. If not for this, we see similar houses listed in the range of 400k in this town.

How much can I make an offer considering it came back from a contract for 249k?

I met an investor here who has a unique approach to RE investing. He has very little headache with renters because of this win-win philosophy. He looks for people in his community who have a down payment, need to buy a home but cannot qualify for a loan . He offers them a 25% stake in a multi-family he buys. He puts in his own money for the rest and moves them into one unit in the building. They pay whatever rent is the standard for that unit. They get their share(25%)of revenue from the building later, while doing accounts. This way, the building gets taken care of, automatically .Since they live in a building they own, they keep an eye on the other renters-no surprises, no trashing. One unit (that they occupy ) is permanently rented -no need to pay a property manager .Everyone is happy . This person has several such units he co-owns. Never paid a penny for property management .

Wanted to share

I'm Certainly no expert but to me it seems that with a 5% more in down payment u will get more income which is what it's all about! isn't it?