All Forum Posts by: Shanequa J.

@Mohammad Haidarasl Redfin is pretty good and free. Real Acquisitions costs, but it's supposed to have MLS like features and direct mail lists.

Agents will not give you their username and password because it is against the rules. You need to become an agent's assistant. That way you will have your own username.

The tenant stopped paying rent. Rent in the neighborhood is $1600-1700. ARV is $190,000-200,000. Repairs are minimal. It's a rental so minor wear and tear. Looking for a quick sale.

I don't provide numbers like HOA fees, taxes, repairs, etc because buyers usually run their own numbers. In the end, it is a waste of time for me because the numbers won't be the same.

Pictures are coming soon.

@Account Closed Based on his podcasts

I started listening to his podcast and it's bad. All he talks about is his Mastermind program and himself. The guests he bring on do the same. It reminds me of guru seminars. Lots of excitement to pump you up to buy their stuff, but at the end of the seminar you didn't learn anything.

Look up hard money loans on the site. HML loan according to the value and repairs of property. Income and credit play a part, but not as much like a conventional lender.

Get a HML, fix, flip, repeat.

It never hurts to ask, but why would the city reduce the fees when someone has already paid the full cost? Sell the property as is then pay off the fees with your profit.

Apply for a Home Depot store and credit card. Put all of your expenses on the card, make monthly payments until you sell, then pay it off. Do the same with Lowes.

What HML and perm lender are you working with?

Paying money each month to hold a house with the hopes of being able to refi in the future is crazy. HM is interest only. Each month you will not be paying down the principle. Depending on how long you have to wait to refi, you might end up overpaying for the house.

If you know you can't get a perm loan in a reasonable time, sell the house to someone else and make a profit. I've always said that people learn from their own mistakes and not others. Paying each month to float a rental has the potential to be a good learning lesson for you. Keep us updated on what you decide to do.

HML doesn't require seasoning. It is used for short term projects. Most want their money after 6 months or you'll pay extra for extending. Some perrm lenders require seasoning, but not all.

Who are you currently using? You should shop around. Contact John Broussard. He's on BP and might be able to help with the HM and perm financing.

Brandon held onto his property because he couldn't refi. HM interest rates are super high. Can you cash flow with the HM after saving for expenses? My suggestion is to have all financing in order before you close. I know you want that first deal, but don't be stuck with a cash killer or worse a foreclosure.