Rental and Cashflow Property - Management, Strategies and More

Hi all,

OK - I have been reading Dean's books, looking at Hud listings, and listings on CL, driving around town and writing down FSBO, rentals, & Huds.
I thought I had an agent but for some reason she never bothered to get back to me the last time I called!!
No problem - someone out there will want to work with me right?
After a couple weeks of watching the Hud listings, I seemed to be going back to this one Hud property.
So I called the Broker, and immediately liked him. He seemed to be open to giving advice and was almost impressed when I told him I wanted the property for a rental but that I would rather flip it but now is not the right time - I told him I wanted to rent it out for a few years and sell it when the market improves.

We have an apartment building available in Buchanen Mi. It's available at .55 or .58 on the dollar, and has some duplexes on the property that can be sold right away to make a quick 500k. If interested please reply. If you have buyers looking for apartments, we find lots of cash cows, and have rehab crew to do the work on any properties needing it as well as management company in place to take care of properties needing that too.

Alright I will do the quick version although I have all the details but basically I can buy a 10 unit apartment complex, 4 plex, du plex, and SFR all on the same property in NE for 110k that is worth over 270k and that cash flows over $2800 per month not including 4 units that are currently vacant and $1700 more during the summer months! I know all the rents which seem low from my research. I have all the monthly expenses $700 of it can easily be transferred to the teneants in the form of gas electric and water. The property also needs maybe 10-15k worth of work and TENANTS ARE ALREADY IN PLACE!!! They guy needs to sell it for cash quickly due to an emergency...

Never dealt with commercial so any advice or direction would be awesome!

I'm looking at buying a 4plex in a small town of about 10,000 people where the majority of the demographic consists of low income residents. The 4plex was purchased for $405,000 back in 2005 and after the market crashed the owner became upsidedown and is now forced to do a short sale. I can buy this property for $149,000 and put 5-10% down because I would be moving into one of the units. My interest rate is a 30 yr fixed @ 4.75-5% The other three units are currently renting @ $650 each so I figure I will have a cashflow of about $600 after all expenses.

I wanted to ask a question to everyone that I asked to Laura to get as much wisdom as possible.

I have a meeting Sunday with a real estate agent/investor that I know who is going to tell me about some investment properties that he has in some popular sections in Newark where everyone is trying to get in. The only thing I'm cautious about is that I think he's going to try and charge me Fair Market Value for these properties since him and his partners have already done the rehab work. I told him I want a killer deal. He told me because of the rental market in this area the property will cashflow at least $700 per month and I verified it to make sure, but is it wise to be in a property for Fair Market Value even if it does have a positive cashflow like this?

I was looking through CL and saw someone doing Lease options with no money down for the buyer. He must be raising the monthly fees for this, or something? Has anyone here done a lease option to a buyer without any money upfront from the buyer? I know in some states that a fee is required for an option of a certain %, but wanted to see if anyone here has done a 0 down lease option and how it was handled. Thanks for any responses you can give.

Good Morning DG Family,

I know that you are really busy, but wnated to ask if you could help me out putting a lease option deal together on 3 duplexs?

Seller Motivation: Very motivated to walk away free and clear, open to lease option. He currently owes property 1) 222,000 2) 222,000 and 3) 153,000. 2008 appraisal was $288,000

The Property: The property is currently demanding ~850 a unit and currently only has one vacancy. The area is very good for renters and seems to be no problem finding tenants.

Does anyone have any thoughts on buying out of state rental property? I live up north but plan to relocate to FL (1500 miles away). I don't want to buy up north because it's too expensive, and I wouldn't want to hold for the long-term.

I would like to invest in FL but am concerned about managing the properties (repairs, etc.) I am interested in Central Florida (Orlando and surrounding area) AND Cape Coral/Ft. Myers. Does anyone have reliable, reasonably-priced handymen, landscaping, and/or pool companies they can recommend? I have family members that were paying pool companies, etc. to care for the property and they were getting billed but the property was actually being neglected. thanks!

Hello DG Family, I have a small issue that I'm needing some advice concerning: "How to Structure a Lease Option Rent to Own" in Houston,TX. I'm seeking the ins & outs on how it works. I have read so many articles but am still confused on the subject. Plesae help a desperately seeking newbie out! Thank You.

i found a 3 unit apartment building i am interested in. its being sold for 11,500. it needs some work on the inside. but it doesnt look terrible. in the description it says that owner financing is available. its in an area that i believe will have people moving there soon because they just built a federal prison and are also opening up a mill so theres going to be hundreds of job openings this year.