All Forum Posts by: Antoine V.

@Michael Mullins thanks for that I need all the advice I can get so I will be ready tomorrow. I would love to get there and sound like I know what I am not talking about and not a babbling fool.

So I stumbled across a property that will be going to the sheriff's auction on the 2nd of August. The person in just under 10k in payments. He did not realize it was going to auction until I told him; at that point he stated that he wanted to sell the house. He looked on Zillow and came up with a magical number of 250k. Well obviously he is not going to get that; I think I might be able to squeeze no more than 100k out of a hard money lender but that would be pushing it. Is there some mesmerizing words I can throw at him other than "I am trying to help you save your credit and put cash in your pocket"? I would like to pay around 60-80k cash if at all possible.

I am currently driving for dollars but it has become a pain with a screaming infant and screaming toddler in the car so I figured I would try something else. My goal is to find either an absentee owner or a very motivated owner that may be behind on payments or something of the sort. I don't have cash but have been pre approved for a loan. My question is will this still work if I do not have cash? Also I believe I can get a list from my title company for absentee owners but what about owners that are behind on payments. As far as budget well less than $500 would be great. I am not opposed to stuffing and mailing myself if it can cut down; but I think I read somewhere on here that there is not much difference when between doing it myself and having a company do it.

Do I have to buy cash when starting my campaign of yellow letters or can I finance the first couple. I am looking to gain some capital so later on I can buy cash. Looking to flip the first 2 or 3 if I am blessed enough to find buyers. Thanks in advance

Welcome good Sir, jump on in the water is fine. Plenty of information on this site for you to digest.

That is correct 5k after repairs...although I am not sure if that price is entirely accurate but I guess the property manager would know better than I would.

Me and the wife decided to start small and try our hand with mobile homes as it is easier on the wallet for now. We went out searching today and ran across a home in a community for 3k that needs fixing up. Property manager said after repairs it might be worth 5k. From the looks of things it needed an update, floor repair and new walls and paint and some exterior work. My amateur guess would be about 3k worth of work maybe less. Lot fee is 400 a month plus electric gas and water. Is there a way to make this property work or are the numbers to jacked up to make anything happen? Not sure if the ARV was accurate or not because the comps seem to be all over the place.

So I am motivated to finally cut my teeth with a fix and flip. I would like to start out with a 2/1 just so I can get the hang of things; but from what I have read the 2/1 is a harder sell. I can't do a 3/2 because I do not have any other investors to help out. What are your thoughts?

I figured I would stop trolling and finally post something. New to the investing world and eager to leave my w2 job. I recently just rented out my primary home and moved into a new home using my Va loan. I am looking to buy and hold several properties over the next couple years however I am looking to flip a home or two in the next 6-8 months. Don't have much money so I plan to use cash for a down payment and then use credit cards to fund the flip. This is probably not ideal but I like using the banks money rather than having to find a hard money lender.