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re: Information for my fellow Real Estate Investors
Posted on 1/11/17 at 3:51 pm to stevengtiger
Posted on 1/11/17 at 3:51 pm to stevengtiger
Damn! We are on fire right now. Just made another offer on another rental property that is already tenant occupied, and got it. Wasn't on the market but got a lead from our realtor. Spec's below.
3 bedroom/1 1/2bath
right at 1,000 sqft
Needs some light repairs, approx. $2,500 but nothing urgent.
Offer price $65K and got it with no counter
Rent is currently $1,000 per month
Currently have two houses under contract to add to the rental portfolio. Have talked to our realtor about switching him into a property manager role for us. Real job for me has gotten more busy and I feel like its time to start paying someone to take care of things and make this more "passive" for us. He is making us a great deal for management and I am looking forward to not fielding calls about rent.
3 bedroom/1 1/2bath
right at 1,000 sqft
Needs some light repairs, approx. $2,500 but nothing urgent.
Offer price $65K and got it with no counter
Rent is currently $1,000 per month
Currently have two houses under contract to add to the rental portfolio. Have talked to our realtor about switching him into a property manager role for us. Real job for me has gotten more busy and I feel like its time to start paying someone to take care of things and make this more "passive" for us. He is making us a great deal for management and I am looking forward to not fielding calls about rent.
4
Posted on 1/11/17 at 6:00 pm to stevengtiger
This certainly is a breakneck pace y'all are on. When did y'all start, like 2 years ago? What's your count up to now? I need to find your original thread when y'all got started.
Also, prior to getting into REI, did y'all have any previous real estate/property management experience or are y'all just doing it trial by fire?
Also, prior to getting into REI, did y'all have any previous real estate/property management experience or are y'all just doing it trial by fire?
Posted on 1/11/17 at 7:17 pm to stevengtiger
quote:
Damn! We are on fire right now.
Posted on 1/22/17 at 11:39 pm to stevengtiger
quote:
stevengtiger
ok, inspection failed. Things were not even completely installed yet like some electrical and HVAC. so it actually was not ready yet for inspection. somebody got lines of communication mixed up obviously. first time for everything.
Posted on 1/31/17 at 12:34 pm to stevengtiger
quote:
3 bedroom/1 1/2bath right at 1,000 sqft Needs some light repairs, approx. $2,500 but nothing urgent. Offer price $65K and got it with no counter Rent is currently $1,000 per month.
Wow, those are some good numbers. Was this a trailer or a house? What kind of area was it in? I would kill to find a deal like that in my area.
Also, why did the owner want to sell if he had a tenant in place paying that much rent?
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