All Forum Posts by: Account Closed

It's hard for someone to say how much you should have and whatnot because everyone has different expectations.

ive done flips, rentals, lease to own, subject to and I've finally landed on new construction and this is where I'll stay.

Might explore subject to deals. Find preforeclosures and see if your 6k cash is enough to weather the storm. I've don't subject to with less money so it can be done.

I think you should absolutely save up some more but keep an eye out for deals. Never know when a deal will come along that $6k will be enough.

Flat vs pitched cost almost the same to replace depending on some factors.

We had one not too long ago ask what the background check was for and I replied for ongoing criminal behavior and sex offenders and that since the property was close to our home we wouldn't allow sex offenders but would consider felonies based on history.

Guy replies "alright, we can just do the application in my wife's name, I went to prison for a sex crime"

I'll just leave it at that.

Maybe consider north west arkansas? It's booming here.

Go pick up your rent and evict her.

Yep sucky news for sure. Here is what I'd do. Start doing research in your state for the bank(s) that received the 2nd ppp loan first and early. Those banks have more loose lending standards and might be more willing to bend rules a little bit. I can't remember the label they call those banks but that's what you need to find.

Can't help you with a contact but I'm doing a HELOC on two properties right now and they sure do like to stretch the rules on the DTI requirements so they loan as little as possible. The 80% ltv can easily be pushed down to 60% especially if you are self employed with great I come for the past 5 years. Just something to watch out for.

I would never owner finance, lease to own only. I have 1 property I lease to own as follows.

94k value, 10% down, 10% amortized over 20 years.  no prepayment penalty and mandatory repayment for home owners insurance. Can pay off early with no penalty. Stings enough to want to fix your credit and refinance with a bank.

We aren't banks. We can't scam the American people with all the perks so why risk your money the same way 😂

owner finance forces you to foreclose if it comes to that. Lease to own is a simple standard eviction.

I would work with your realtor to schedule a time for a foundation company to inspect.

That's a small small house... doubt there are very many joists or beams to replace if needed.