All Forum Posts by: Nate T.

 I can send you some example sub 2 docs if you're still looking. They are AZ specific though.

How much did checkbook Ira charge to get you set up? Their website doesn't seem to have any pricing. 

Keep in mind that tearing down a house is not free. You might be looking at another 10K for that. So include that in your calculations.

I am with IRA services.  They were the lowest price I found at the time, 5 years ago or so.  

$900 electric bills tell me that something is extremely out of whack. Unless you pinpoint the problem, changing to gas may or may not be the solution. You might want to get 1 or 2 of those energy efficiency analysis inspections. Of course those companies might try to upsell you on a lot of things like solar or new ac or whatever. But they should at least give you a better idea why the bills are so high, before you start making big changes.

I purchased a few investment properties with 5% down a few years ago. It was through the VA's vendee program. They would sell off their repos with actual VA type loans to non veterans, with 0% down for owner occupants, and 5% down to investors. It was great while it lasted. The foreclosure inventory died off after a while and I believe they discontinued the program.

These days, the best way to get 5% down on investment property is to buy subject-to, or FSBOs with owner financing. For listed properties the seller needs at least 8% for closing, so it's pretty tough to get less than 10% down.

2 more local lenders that I have used and recommend:

Gordon Goosen, Pilot Mortgage, (480) 320-2322

Ron Kuhn, Amerifirst Financial, 480-773-7825

$2-10/sqft for installing tile sounds a little crazy. Around here (Phoenix) we pay $1.25-2/sqft. 

But I don't see any reason to get rid of your hard wood. Just get some quotes on the refinishing.

You can't really buy an investment property with traditional financing without 20+% down. And you need money for closing costs, repairs, holding costs, etc. 

So in order to do it with 7k, you would need non traditional financing, such as a money partner, private lender, taking over loan subject to, owner financing with low down, etc.

There is a lot of info here on BP about all of these methods.

Joe, what do you mean by nonlienable debt? I read your previous post, but didn't catch on to what you're talking about.