All Forum Posts by: Andri Artayudianto

Thank you for the replies guys. I will learn more finding good deals. 

Hi, I've been in on BP for close to 1 year now, I think it's time to buy my first house to live in first. I found one (single family) that I like on Realtor.com. I have not made contact with the seller.

I have a few newbie questions: 

1) How do you know if the seller owes taxes. 

2) I can see the house purchase history on Realtor .com, but can the information be trusted?

3) The house was worth over $300,000 before the crash. It is now $79,000. Very good neighborhood. Rents average $2000. Now all the other houses in the area are worth way more than that. I'm afraid there's a catch to it. How should I find out the truth about why the price is very low?

4) What else do I need to know about the house before making an offer

I'd really appreciate your guidance. Thanks.

@Elizabeth Colegrove  

I don't understand what you mean by nulling morgages. Do you mean transfering the deed to an LLC nulls my FHA mortgage? Can you explain it more, maybe with an example :)

Thanks @Brandon Turner & @Dmitriy Fomichenko I've been busy learning & listening to the podcasts I forgot to reply to this forum. There's so much to learn. :) I'm so excited.

@Brie Schmidt Hi Brie. You're very informative. I'm new to this and have a few questions regarding this case. Can you transfer the Deed the an LLC right after you get the FHA loan or there's a period of time before you can do this?

In order for you to refi, do you need to have paid off 20% in equity?

@Jon Huber I'm originally from Indonesia. I've only been living in the US for 9 yrs. 6 yrs in AR. I listened to the podcasts for the first time yesterday. Very informative and real. I could listen to them all day. Love this site!

@Michael Germinario Thanks for the tip. Yea, integrity is important. I need to be educated about the rules. 

@Dave Visaya Thanks Dave. Glad to be here :)

@Paul Timmins Can you do owner occupied financing then turn around and rent it out? How will the bank know if you live in the house or not?

Thanks for the welcoming guys. 

@Curt Davis I've checked with Bank of America. You're right about the 2 year requirement. I need one more year to qualify. But I can't just sit and wait till that happens. I'm really hoping I can find something that can start me in RE in the near future. 

Hi, I'm Andri from Newark, NJ. Sorry I skipped this step. But I'm here now doing what I'm supposed to do. I'm really glad I found this community. I'm here to learn, connect and eventually pass on the knowledge to others. 

I just finished reading the "Ultimate Begginer's Guide to REI" book. Loved it! I may start from buy and hold. Hopefully I can find an owner-financed deal nearby. Since I'm self employed, traditional loan might not be an option for me. I think a small multi family house should be a good start.