All Forum Posts by: Scott T.

Thank you all for the warm welcome. 

Thank you @Brandon Turner & @Rachel H. 

@Edgar Collado Thanks! Best to you too.

@Wayne Brooks Gotya. Thanks!

Hi @K. Marie Poe: The comps say he is upside down to me. I failed to mention the place needs 50K in renovations to flip. The numbers says it is a loser if I pay more than 120K. 

Thank you @Rodney Kuhl & @Hattie Dizmond !

Hello All,

I'm am excited to become pat of the Bigger Pockets family.

I'm signed up, looking for my first deal and a bit anxious.

My goal is 33 flips in the next 5 years. And, to add enough rentals to my portfolio to create 100K in passive income in the next 10 years. Possible? Impossible?

What's the best first deal? Beside one where I don't lose  money.

How do I find OPM? When I use OPM, can I still make it a 50/50 split after expenses.

I look forward to your replies while learning from and with you.

Look at my first deal.

Is this a Short Sale?

The homeowner holds a  155K first and 15K second mortgage. He is not in default. 

I've offered him 100K for the home. He does not have 70K to pay off the remaining balances on the 2 mortgages. 

Is this a short-sale? 

If not, what is it? 

If he agrees, how does the homeowner finance the remaining 70K?

Thank you.

I hear you Joe. Thanks again!

Thank you laying it out so clearly.