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Updated over 7 years ago on . Most recent reply

User Stats

7
Posts
2
Votes
Edgar Baeza
  • Investor
  • Yakima, WA
2
Votes |
7
Posts

New to the game need help I just turned 25 and need to succeed .

Edgar Baeza
  • Investor
  • Yakima, WA
Posted
I purchased a home 8 months ago before learning about bigger pockets, this home was going into foreclosure for back taxes . The owner at the time approached me and offer that I put it under my name and take over the payments, so I just thought about it and figured I could fix it up and rent it or refinance it to purchase other rentals. Well. So I did it luckily it was a owner to owner deal so the owner agreed and it is now mine, well I owe 48,000 And the home remolded is worth 105000 And I'm stuck because I need about 15,000 grand to get it looking good any suggestions I don't have good credit so the banks won't loan me anything . Any one interested in a investment.?

Most Popular Reply

User Stats

7
Posts
2
Votes
Edgar Baeza
  • Investor
  • Yakima, WA
2
Votes |
7
Posts
Edgar Baeza
  • Investor
  • Yakima, WA
Replied

Hey I just got done reading scot trench book set for life
And well now the home I have basically needs to be remodeled completely , but now I found out it's r-2 so I'm just thinking I should make it a duplex and be able to charge 700 a unit because for a single family I could only get 800 and there are duplex and triplex in the area that are getting 650 to 700 a month.

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