Pros/Cons - Posted by Neil

Posted by Neil on August 02, 2003 at 23:43:11:

I had an extensive view of MLS Passport today, due to DWFish’s
computers locking up.
I asked if I could have a look, she said, “this happens every weekend, the C c PomCuter guy says someones kid is getting on every Fri and messing it up.”

I fired up MLS Pass, accepted the “RECOMMENDED SOFTWARE SYNC”,
had her going in 10 mins.

I told her to call me next time they need PC work done

Pros/Cons - Posted by Neil

Posted by Neil on August 02, 2003 at 22:57:33:

spent from 6am to 3pm meeting with RE agents, Banks, etc.
Nothing to hot, but I have a meeting with a very good family friend, that developed golf courses now, hopefully Ill get some good info. (maybe a source of funds?)

Ok here it goes:

based on something like this, if I get funded (Which I will find a way eventually)

4 Units
Multi-family Property, Area: 43, Built In 1900, Up and down style, Three story
, 8 car parking space(s)

Property Features

Multi-family Property
Area: 43
Up and down style
Three story
Year built: 1900
Unit 1 has 5 room(s)
Unit 1 has 3 bedroom(s)
Unit 1 has 1 full bath(s)
Unit 2 has 9 room(s)
Unit 2 has 6 bedroom(s)
Unit 2 has 2 full bath(s)
Unit 3 has 3 room(s)
Unit 3 has 1 bedroom(s)
Unit 3 has 1 full bath(s)
Unit 4 has 4 room(s)
Unit 4 has 2 bedroom(s)
Unit 4 has 1 full bath(s)
approximately 2310 sq. ft.
Baseboard heat
Gas heating

I have a feeling that this might have sold, as I found a LARGE nice looking building this mourn. Hope not

But based off of that, I would like to get a First time buyer loan
and rent this out.

This area is heavy under attempts to clean up.
I also have a plan, with My IT Parnters, without going to far,
to offer something that has yet to be done in this area (Anywhere actually)

Rents are going around 700 to 1k
I can:
Do siding
Do Electrical
I know a little roofing

(Wow this got long, but everyone says take action)

So whats the Pros/Cons of renting?
I can get renters in quickly, like hotcakes right now, but all property is drying up quickly.

Flipping is equally hot, but involves a little more knowledge than I know
Looks like I am going to go back to work for a company, doing security again,
So I dont mind the small profit at first.
Some numbers I did: (Yay Linux!)

950 * 4 --confident I can get this
3800 - 2000 Rough Est of Lender payment (5yr)
1800 -500 Maintanence
1300 --Pays all my bills, supplimented with IT work

Per YR total, tax application
950 * 4 * 12
45600 * .30
45600 - 13680

Not including any deductions,

(Im annoying huh?)
Let me know what you think