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| Real estate investment: What am I missing? Posted by Jahel on 5/15 at 11:34 am  quote: mortgage on this would be about 3-400....so I would make 400/month but supposedly there's more quote: worst case scenario I put it as section 8 and get 650/month why are these available? The market cap on these make it basically risk free....what am I missing? Reply • Back to Top |
quote: Insurance and property taxes... Reply • Back to Top |
quote: 1. Time value of money 2. maintanence costs Reply • Back to Top |
| Burglary bars on the front windows are about that's missing as far as I can see. Reply • Back to Top |
| If its too good to be true.... Could have a lien on the property. Reply • Back to Top |
quote: huh? just a little down on my part 8k....then all rent completely reinvested into the property(maintenance or pay-down of mortgage) not really about immediate cash return buy 10 of these and within 10 years they'd all be paid off. then bringing 4k-10k/month quote: This is the only issue i see...is it really that bad? >4k/year This post was edited on 5/15 at 11:47 am Reply • Back to Top |
quote: What part of the country are they located? Differnt places have different problems, termites, the heat in the south eats up roofs, ACs fail. The brick on the outside would be a plus... Reply • Back to Top |
| Memphis, TN loc: 4581 cottonwood memphis tn US quote: but i did see this: quote: guy's trying to flip Reply • Back to Top |
| I did a lot of work in Memphis last year, a large portion of that city is the hood but that home is close, but not in, some decent areas... Reply • Back to Top |
quote: this a scam? buy for 26k get a fake rental agreement for himself paying 8k over/year so that it would convince people to buy it make a quick 12k? Reply • Back to Top |
quote: Caveat emptor Reply • Back to Top |
quote: is that latin for bullet to the head? Because if someone's trying to scam me, I take it in the exact same way as if they're trying to grab my wallet, or break in to my house. How is stealing money different in people's eyes I don't know  This post was edited on 5/15 at 12:13 pm Reply • Back to Top |
Sounds too good to be true. Renting it out at that rate over a 15 year period would gross 153,000 on approximate expenditure of ~60,000. Only situation where that would make any sense is if the current owner is moving out of state and can't be bothered to hire a maintenance company. quote: You have to opt in to be scammed. That's a pretty key difference. Reply • Back to Top |
| That area is not a very safe area. Just FYI Reply • Back to Top |
| memphis has tons of great deals, unfortunately they are not THAT GOOD asking price wise for a house like that at least that I have seen lately. now yes you could get a nice PCF monthly investing there, but again that deal looks and sounds fishy. May be a bad neighborhood. may have a tax lien. may have structural problems among other things. This post was edited on 5/16 at 7:45 am Reply • Back to Top |
| any updates??? Looked into more thoroughly? Reply • Back to Top |
quote: if your going to make any real money in rental property, those are the only areas your going to do it. Reply • Back to Top |
quote: really? Then why are so many making money in good areas in memphis? Reply • Back to Top |
| Chinese drywall? Just lost out on a great deal because of that. Reply • Back to Top |
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