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All Forum Posts by: Bryan H.

Bryan H. has started 73 posts and replied 766 times.

Post: Raleigh, NC. TREIA vs. Others?

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284

I'm a TREIA member. It's a pretty good organization, lots of meeting and good educational speakers with little sales. 

I'd be up for a BP meeting if someone sets a date and time. 

Post: Hello fellow investors, my name is Julie.

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284

Welcome to BP Julie. Sounds like you are all up to speed on your education, which is great. What aspect of RE are you finding the most success or difficulty? What's been your focus?

I'm a buy and hold investor. I am also looking to find some properties to rehab and sell in the Raleigh area, but I haven't found any that fit my criteria yet. Or when I have, they were gone before I could make a move. 

How bout you?

So I was JUST thinking about this today. In Michigan, bungalows typically have the living room in front, kitchen in back and stairs leading up/down between them. Is this what you have too? Did you move stairs?

Post: What issues with a house will make you run from a wholsale deal?

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284

It needs to be in the right location for me.

Post: Contractors from Angie's List?

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284

I've had very good luck with Angies list. Let them know you're an investor, put together a scope of work and ask them a 'ball park' figure before you have them out to estimate. I provide photos of everything along with the scope of work and see if it's worth our time to have them come onsite. I've had ball park estimates for the same job come in at $10k, $12k, $15k and $35k. Guess who didn't get invited onsite. 

Post: Buy a home under an LLC after foreclosure

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284
Originally posted by @Kevin Colwell:

Hello forum,

So I think this is my last shot before relegating myself to renting for another two years. So I had an FHA loan foreclosed on 11 months ago after a long drawn out process. The question I have is since I cannot get approved for a loan for at least two more years, would it be possible to create an LLC to purchase a property?

Details:

Home Price: $175,000 

Down Payment: $45,000

Credit Scores: 730 and 690 (Surprising with the foreclosure)

Annual Combined Income: $118k

I know with an LLC with no credit history that they would require me to co-sign or put a personal guarantee but I did not know if this could be a work around with having the foreclosure. Any thoughts would be greatly appreciated and I can answer any other questions if anyone needs anymore information. Thank you!

You said it right there. I don't see it happening, especially with a personal property and a recent foreclosure.

You will probably need to wait until a bank will loan to you again. This article talks about that. http://www.nolo.com/legal-encyclopedia/when-can-i-get-mortgage-after-foreclosure.html

Can I ask if this was a strategic default? With that income and available down payment, I can't imagine why someone would get foreclosed on unless they chose not to pay the mortgage.

Post: Most Important Bigger Pockets Question Ever Asked : You will be surprised with the question

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284

Get a property manager. Spend more time with them and let someone else deal with the details.

Post: Bagworms and Lizards

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284

I had bagworms on an evergreen and almost lost it. I used this to kill them The tree is making it's way back, but it's taking a while. Get rid of the bugs, its easy and since they are destructive, to me it's a no brainer. 

Post: How old were you when you bought your first investment property?

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284

Closed on my 1st rental on my 39th birthday. Wish I would have started so young like many of you. At the rate I'm growing, I'd probably be retired by now if I started when I was 21.