MY HUSBAND I MADE TWO OFFERS TODAY BUT I'M UNCERTAIN  ABOUT THE OFFERS AND FINANCING.

FIRST PROPERTY IS A SINGLE RESIDENCE 3/2, SQFT: 1415  BUILT 1981 FORECLOSURE LISTED AT 399900.00. WE OFFERED 70%, 280000.00  APPROXIMATE UPGRADE $12000.00

 

SECOND PROPERTY IS  SINGLE RESIDENCE 4/2; SQFT 1336 BUILT 1970 SHORT SALE APPROVED LISTED AT 343000.00, AGAIN WE OFFERED 70%, 240000.00  APPROXIMATE UPGRADE IS $10000.00

BOTH PROPERTIES HAVE BEEN LISTED SINCE AUGUST 2007

THE PLAN IS TO USE AS RENTAL PROPERTY; AVERAGE RENT IN SANTEE, CA IS BETWEEN $1750-2200

WE HAVE NO MONEY FOR A DOWN PAYMENT HOWEVER AFTER ATTENDING A 3 DAY RICH DAD SEMINAR WE DON'T NEED ANY MONEY DOWN. FAMILY AND FRIENDS ARE NOT AN OPTION; I'M AFRAID OF HARD MONEY. CONSIDERING THE MARKET IN SAN DIEGO COUNTY HOW CAN WE GET 100% FINANCING?

 

ANY IDEAS?

 

APRIL

Before we move into financing, I'm curious about the numbers you and your husband are running.

 If you are able to obtain 100% financing, what do you expect your payments to be?

Insurance?  Taxes?  Maintenance?

And how does that monthly number compare with your projected rents?

 

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Make a Million. We Did
Start a Self Storage Business

If you are looking for 100% financing, are you including the money for fix up?  Or will that be out of pocket, or do you intend to refinance and pull equity for upgrades?  Also, are those numbers pretty accurate?  Do you have people in mind that you want to work with to upgrade?