All Forum Posts by: Billy Hills

Thank you bill and jean. Both very good advice.

I am thinking about doing a legit trash out business. In the surrounding areas. I think this will let me get to know other home owners and landlords. I think it will also help me evaluate the local areas. While making money in the mean time.

Do people really use these companies or are they just hype. thank you.

I am approximately 14 to 16 months from having a high enough credit score and a decent enough down payment, To purchase my first rental.

Having lived in this area for eight years. I know this is a dead zone. Lots of jobs leaving and not coming back is causing a lot of unpaid landlords. Section eight even has a freeze on it, do the number of low employment.

In this time frame. I will still be making payments on my current house. (so I could not move), I am attempting to make a list of things. I will be looking into. to make sure Where I invest is a safe roi.

Truth be told I have no idea where to even begin searching. I.e. in my mind there is a larger city about 25 mins from here. And I am just assuming that it is safer to put my money there with no idea of how to check the facts.

PLease add to my list Thank you all in advance

Billy.

I am hoping to take it easy in the following year. I am trying to get out of the red and into the black for more than a couple months. Should this happen I will be looking at my first rental In early 2015.

as far as BP goes. I have a completely different view and feel for things now. There is some people here I would like to partner with. Although I know I need to bring more to the table.

Kinda funny I think. I am hoping to be working with the same people. That I am attempting to learn from. Merry Christmas.

billy

"I look at about 8 different web sites some overlap, and I have 6 realtors that send me listings from time to time. I also go to my county tax sale site. I never counted but I bet I look at 50 houses before I bid on one. And I bet I bid on 10 before I actually win one. Good luck"

thank you I needed to read this.

I can't remember the address, but we rented a time share in conway a couple times. If your people are short term visitors, this may help.

yeah. so far that is the approach we are taking.

Thank you Ned.

I will get the answers to one and four and post again. I did post this in a rush. The time is tight between getting up and running to work on third shift. I did reread it and see where some of this started and did not finish. I will take more care and time on the next one.

Again thank you

Billy

Hello every one and thanks for you time and advice.

I am currently getting ready to sign a contract that has me paying 1,162 every ninety days. 1050 is for 3months payment and the rest is for taxes and insurance. Up to the total of 25,000. plus the cost of the roof she just put on. @5,000.

So the end amount is 30,000. However she is very cash friendly and will entertain a cash offer. we have talked somewhere in the mid teens. She is pushing for 18. and I am pushing for 16. (less I have to figure out how to find.) Plus the cost of the roof.

Shes diffidently a motivated seller, She came to the number of 25, by the current tax value of 36,000. . The house needs a new hot water tank. I would like to switch the tank to electric, as well as the heater I would like to change to electric.

The house was built in 64, the taxes are about 4-500 a year. it is 2 lots the property is taxed at 4000 and the house is taxed at 32000.

I am the long term tenant here, and plan on staying here. How ever I am looking to middle man this and make some money. Either get a loan. to pay cash. Which the banks won't touch because of the lack 20% down. Or to help some one make some on it.

The house is under dire need of up grades and some work such old floors need to be leveled and old chimney needs to be removed.

This is not a great flipping property, this is a great buy and hold.

I am currently saving for a asbestses test and a current market appraisal

I currently pay 350 a month. top rent on my street is 475.00. I am looking to make this attractive to some one to loan me money for a cash purchase. or for some one to buy and hold it. The details will come in when it comes to planning for the work to be done.

Do to the small city there is only a couple of people to talk to. And I am in a working class section. with two other empties on the street, most of the people here have died, and out of state people relatives want to sell.

I am not sure how to even begin working this up. And It has dawned on me I have been thinking on this for nine months now. The roof is two weeks old thou.

There is money in this deal. but it will be slow money.

1st floor, 2b 1b living room, kitchen bathroom

2nd floor, not sure if permitted or grandfathered two small rooms and a bathroom. After I get with the city I will figure it out.

If I keep it. I will remove the chimney the runs thru the middle of it. and fix them to where I have more space.

thanks for your advice

Billy

Does It hurt the possible tenants score when some one screens it?