Viewing 1-4 out of 4 blog(s)
A Lost Gem
Date: 06/29/2008 / Category: Need Advice
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Current Grade B-
I found a great fourplex in great shape, a positve cash flow, at a good price. It was posted only for 2 days online before it was taken off. I fear because of waiting, I lost out. I need to learn to put it under contract but I don't know he to write a contract.
Found one, now what?
Date: 07/04/2008 / Category: Need Advice
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Current Grade A-
After searching feverishly, I've found one that makes perfect sense financially.
A fourplex or quad that's fully rented and cash flows. I've negotiated the price down a bit.
The owner wants completely out and won't do seller financing but will take care of the closing costs
Now, how do raise the Money? How do I find investors?
Found One part 2
Date: 07/07/2008 / Category: Need Advice
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Current Grade A-
Preview:
Ok, as I said, its a 4plex with a FMV $ 350,000. I negotiated $323,000 down about 10k from the asking price. It Currently brings in $2780 in rents. Which are under current rents. The utilities are all separated per unit in their own names which is great! The building has been newly painted and the hvac system has been updated. There is plenty of space for expansion for additional units. Avg. monthly expenses are $350 and can be trimmed down more. My ideas are to concert to condos at $100k apiece or more. This would give me a larger... continue reading >>Hard Money
Date: 07/14/2008 / Category:
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Current Grade A-
Ok, I'm finding money. Its great. I'm learning about points, prepay penalty, additional money for interest. I'm finding 60-80% funding. That is percent of purchase price. I need to know if I can combine loans together to great the 100% or do I just use it as a down payment to a conventioal loan, which seem to be harder and longer to obtain.
