All Forum Posts by: Jody Rouse

If my wife and I decide to move into our next property to fix up and force equity, how safe would we be to put money into improving the property?  How secure are purchase option deals?  Is there an out for the home owner to sell or bac out of our pending purchase?   How would you or have you drafted this deal before. 

Thank you @Jesse T. for the great advice.  As long as I am on the same page as my agent he will understand that he is here to match the house to the criteria of my investment.  Hopefully he is willing to get creative. 

@Darren Budahn thank you for that great advice. I think in the next few months I will have an honest chat with him over lunch. He knows my goals but doesn't realize that you make the money on the BUY. The BUY has to fit the investment and that may not mean the MLS. Thank you again.

I found my last deal through my agents MLS list. We negotiated down quite a bit and got the refi on the house at higher value 6 months later. In the next year I am looking to find my next deal and I am not too confident I can replicate a good deal from the MLS. Is the MLS too saturated? What is best way to utilize my agent and also look for deals elsewhere? I don't think my agent will want to put in too many low price deals to justify a good deal on the MLS. I wouldn't if I were him or her. How should I utilize my agent on the next deal? Presently he is now turned into my friend and this could get awkward if I don't use him.

@Daniel Peimbert fellow newbie to another.  great to see you here on the forums.  Maybe fortune will bring us together on a deal one day.  good to see another fellow local investor.

The lower the cash flow then there should be higher appreciation and therefore equity capture to refi into a new purchase.  coastal communities offer this as purchases go for high premiums.

@Account Closed nothing better than an off market property.  Get some interest from those you trust and go after it!  Number one is get with your broker who is doing the deal as they should know the players in the market.

city-data.com

@Zach Adams Good post!  I also live in North County Coastal.  I am at the stage in my life where there is transition.  From all I heard was who was getting married and to whom now its where are u living, do you own, and man how expensive everything is.  In my mind when everything is "expensive" and stays that way its not expensive it is the standard.  Investors and rehabbing properties in this area is key to getting the money.  Lowest price possible and little forced equity as possible.  ive done this twice.  Look forward to this summer in SD!

Fabio,

Why not leverage as much as possibly with the best loans as possible. Do a 10% down FHA Owner Occupied for at least 6 months on one property that has potential cash flow or good appreciation/equity appreciation with fixing then decide from there where you want to continue your efforts. This will let you test the market in the area as you decide.