Posted by Mark (SDCA) on March 31, 1999 at 09:51:29:
First thought is that you would probably get a better response on News Group I. You might try re-posting there.
Having said that… I personally do not like 2 bd for the same reasons as Carleton. However, I would not say never buy them. They compete QUITE well with 2bd apts. If you can buy them at a price that allows you too rent them at about the same price as a 2bd apt gets then i say go for it.
Cheers,
Mark
Carleton Sheets and 2 BR Homes - Posted by Lyle Steinhardt
Posted by Lyle Steinhardt on March 30, 1999 at 18:37:42:
I recently purchased CS NMD course and have finished reading it. I am putting some of his techiniques to work and basically just started calling ads. I responded to an ad about rental properties and the Real Estate Agent was kind and generous and provided me with four different properties to look at. The problem, they all seem to be 2 BR homes. CS says not to buy 2 BR homes. Also, one of the properties is a double, with a bungalow and a small 2 story home. Total rental income on the property ~$900. They are asking $68,5 for the property…I’ll get the rest of the information tomorrow…I guess my questions are.
Should I look at these even though they are 2 BR properties?
The RE agent says that her agency has an agreement with the sellers to pay her commissions…this prevents me from using her commission as leverage I suppose? Any ideas?
Lyle
Re: Carleton Sheets and 2 BR Homes - Posted by Marc
Posted by Marc on April 19, 1999 at 07:15:53:
2 bedrooms will work very well in the right market. A key to sucess is understanding the market you are buying in. Get all the information you can get on the area you are looking in. 2 BR might be the way to go there.
Re: Carleton Sheets and 2 BR Homes - Posted by Budd
Posted by Budd on April 03, 1999 at 20:50:05:
I would at least look at the bungalow/2 story home.
A “new” mortgage, even at 8% would be around $530 per
month, taxes and insurance, maybe total $150, $90 for
mtce and $50 vacancy rate, $90 mgmt fee = $910. Initally a negative cash flow. Some of those figures may be high for your area. Anyway, one rent raise and your on the positive cash flow side.
Re: Carleton Sheets and 2 BR Homes - Posted by guru
Posted by guru on March 31, 1999 at 22:44:49:
I’d go look … if they have a large bedroom that can be converted into two or a porch that can be enclosed - its instant equity time!