Calling real estate people /Rent to own questions

[Jammer]

@love4boost

I hear ya bro, 8 out of 10 need lots of work but theres ALWAYS deals out there… Meet and a friend bought a house on Arthur st for $8,800, put $7,000 into it and sold it for $55,000 within 2 months… Needed tons of cosmetics, but plumbing and electrical worked perfect, boiler needed a $20 thermal cupler and fired right up.

Definately happens

[love4boost]

@Jammer

OK, I need to chime in here… having done all and more than what was discussed above.

Rent to own is a viable option… with fair parties on both side, when the right buyer, seller and house all meet.

We have owner financed people on some of my flips… which was almost a rent to own in the end… often people are poor at saving…so if we play bank, its a way to “make them do it”.
For instance, I am just finishing up a 4 unit in schenectady… all new siding, windows, cabinets, counter tops, vinyl and harwoods being redone now. All new electric panels, and most new plumbing. All serviced boilers, (seperate heat and electric for each unit)… the 4 unit is basicly “turn-key”. New front steps, railings…doors, yada yada yada. Built it so the buyer can come in, make money and not have all those nagging calls. New faucets…new drain…and so on…

I know damn well the investment market it tight because it often requires 30 percent down… and if you have cash, you may not want or need this particular property… but for the average Joe, this place will definately profit over $1000 a month and they may be able to get in with very low money down because we will work with the buyer… or more importantly, decent money down and we can hold a mortgage they may not be able to get… no matter how one looks at it, ya pay alot of interest to the bank or seller… so in a case like this, I could rent the whole building out to the buyer at a good discount, let him make his nut, and when there is either enough banked for him to get a loan, or he finds other means to take ownership, the transfer happens. thats a mutually beneficial rent to own type of deal.

BTW, just to be sure i violate the forum rules, I will soon have a nice 3+ bedroom in Colonie, with a 2 car garage… freshened up in a great neighborhood for $139k… well below any comps… this should be a 7-10 day sale cycle once I put it on.

The best bet may be what we did in the early 90’s, equity sharing.

Bro, if youve got the cash, you should look into this 8 unit plus HUGGEE store front on Brandywine. There asking $120k, my realtor told me he can get it for $65k… All plumbing is there, electrical is BRAANNDD NEW, one big motherfucking boiler but fuck it, you control the heat and charge more per apartment. Lobby/hallways freshly painted, actual apartments need mostly cosmetics and appliances… 2 small roof leaks but not a hard fix at all… Over $6,500 potential income per month not including the humungous storage building thats attached… my friend advised me to tear it down and reassess it to cut taxes in HALF… My pawnshop buddy wants to buy it and turn the downstairs store front into a night club, fucking wish he did, I’d be balling in that fucker lololol.

[love4boost]

realisticly, this property needs about $10-15k in work/labor but once your done youll be bringing in $80k a year in rentals.

[Jammer]

@love4boost

Bro, if youve got the cash, you should look into this 8 unit plus HUGGEE store front on Brandywine. There asking $120k, my realtor told me he can get it for $65k… All plumbing is there, electrical is BRAANNDD NEW, one big motherfucking boiler but fuck it, you control the heat and charge more per apartment. Lobby/hallways freshly painted, actual apartments need mostly cosmetics and appliances… 2 small roof leaks but not a hard fix at all… Over $6,500 potential income per month not including the humungous storage building thats attached… my friend advised me to tear it down and reassess it to cut taxes in HALF… My pawnshop buddy wants to buy it and turn the downstairs store front into a night club, fucking wish he did, I’d be balling in that fucker lololol.

Know all about it… Im good…but thanks for thinking of me!
Im back in suburbia for 2011

Good Pawn location…and darker night club location… taxes are KWAZY

[love4boost]

@Jammer

Know all about it… Im good…but thanks for thinking of me!
Im back in suburbia for 2011

what ya think about that property minus the retaarddedd taxes? Get that fucker up to section 8 approval and youll be making BANK right from the state, no need to collect from tenants.

[Jammer]

@Jammer

OK, I need to chime in here… having done all and more than what was discussed above.

Rent to own is a viable option… with fair parties on both side, when the right buyer, seller and house all meet.

We have owner financed people on some of my flips… which was almost a rent to own in the end… often people are poor at saving…so if we play bank, its a way to “make them do it”.
For instance, I am just finishing up a 4 unit in schenectady… all new siding, windows, cabinets, counter tops, vinyl and harwoods being redone now. All new electric panels, and most new plumbing. All serviced boilers, (seperate heat and electric for each unit)… the 4 unit is basicly “turn-key”. New front steps, railings…doors, yada yada yada. Built it so the buyer can come in, make money and not have all those nagging calls. New faucets…new drains…and so on…

I know damn well the investment market it tight because it often requires 30 percent down… and if you have cash, you may not want or need this particular property… but for the average Joe, this place will definately profit over $1000 a month and they may be able to get in with very low money down because we will work with the buyer… or more importantly, decent money down and we can hold a mortgage they may not be able to get… no matter how one looks at it, ya pay alot of interest to the bank or seller… so in a case like this, I could rent the whole building out to the buyer at a good discount, let him make his nut, and when there is either enough banked for him to get a loan, or he finds other means to take ownership, the transfer happens. thats a mutually beneficial rent to own type of deal. Talking less than 125k for a very updated building on a nice street…new sidwalks… few neighbors… neighborhood is for renters, not us fine Shifters. tho

BTW, just to be sure i violate the forum rules, I will soon have a nice 3+ bedroom in Colonie, nice colonie, not menands, schenectady or exchange st stuff… with a 2 car garage… freshened up in a great neighborhood for $139k… well below any comps… this should be a 7-10 day sale cycle once I put it on… at the end of September or so…

The best bet may be what we did in the early 90’s, equity sharing.

4 Unit

Repost///

[Jammer]

@love4boost

what ya think about that property minus the retaarddedd taxes? Get that fucker up to section 8 approval and youll be making BANK right from the state, no need to collect from tenants.

Fought Schenectady on taxes many times… with lawyers even…hard hard hard battle…even when you win, its a nut. But, like anything, if your willing to WORK , it will make you money. thats a concept some will never get… i know u do.

Hell, look at 200 St St… 15k sq ft…nice building…was $259k, when it was 1st listed 500 days ago, now its $119k…buy it for what…$95??? .hell of a building…but 20k taxes… place has to produce…

[love4boost]

@Jammer

Fought Schenectady on taxes many times… with lawyers even…hard hard hard battle…even when you win, its a nut. But, like anything, if your willing to WORK , it will make you money. thats a concept some will never get… i know u do.

How can they tax you if half the building is gone though you know? Usually your taxed on the size of your property… Keep the 8 units and store, gut the almost fucking ACRE of shitty storage shack and make it extra parking or something… cant see how the city couldnt reduce you.

[Jammer]

@love4boost

How can they tax you if half the building is gone though you know? Usually your taxed on the size of your property… Keep the 8 units and store, gut the almost fucking ACRE of shitty storage shack and make it extra parking or something… cant see how the city couldnt reduce you.

We can get back to Sketchy having his thread, but I will end with this for now… Schenectady does what Schenectady wants. I have beat the ass of many towns with logic… I had to rail on Schenectady on my Radio show for 3 shows before I got a call, and they got off my ass about some bullshit code related stuff… now, were on stable terms, but do not expect what you deserve in schenectady… expect what they want to give you… I finally swallowed that jagged pill after gettin a single win out of them… one that involved the mayors office contacting me… asking how they can help.
Trust me, they will come back around for me when they get off the bar stool.

[sbardy]

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[sbardy]

I need jammer to adopt me.

[mcflurry]

@usmc2801

I did not know this, does she live on my street?

she lives right on consaul, kiddie corner from paige… my uncle lives right accross from her lol

[Jammer]

@sbardy

I need jammer to adopt me.

Why do i have to be the dad? Its your turn!