All Forum Posts by: Shanequa J.

I don't remember the exact reasons, but it came down to not being able to do certain deals. I want to do creative financing and from what they said, that is the area (example: subject to) where agents messing around is frowned upon. Maybe if I would buy more than 2 houses off the MLS per year, the license would come in handy; but since I don't, I don't see how it would help. One of the reasons of doing RE is so I can be my own boss. I don't want to have to answer to a broker. Hence, a second job.

How long did it take any of you to land your first creative financed deal and how did you do it? I have mailed off about 30 letters to owner's of empty houses and with back taxes. I only received 1 real response. This is why most new investors quit.

At my REIA, the investors advised against getting a license. I'm not going to get mine because I already have a job and don't want to work for anyone else.

Lexington Law Group is a great national credit repair agency. I have told several people about them.

I grew up with this type of heat. Normally each room has a heater and no it is not vented outside. It doesn't seem like it would heat the whole house but it does. Problems- the container gets really hot (someone could get burned), some of them are open in the front (a child could stick something in it), the flame could blow out while the gas is still flowing. Make sure you install a natural gas detector. Your insurance is going to be higher because of the open flames.
You can install duct work but youre not going to immediately recoup the costs from the rent. If gas heaters are normal in the neighborhood, I would keep them.

I have used uslegalforms.com. The documents are tailored to your state, you can pay for whatever you need, and they are cheap.

Nicole, yes the house still has a mortgage. I just wanted to bounce it off the experts first before I decided to move forward. I am also new to investing.
Thanks everyone. Maybe I'm being paranoid.

Jon, I thought of a land contract instead of seller financing because I didn't think sellers would just sign over their title to someone. I assumed most would prefer keeping the title in their name until the balance is paid off. Would could I tell a seller to convice them to do seller's financing instead of a land contract? People are untrusting of strangers and it seems they would want to keep the title in their name to protect themselves against scammers.

There would be no mortgage. I meant refi but should have said cash out refi.

Congrats. Seller financing is one of my goals for this year. Let us know what he says.