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All Forum Posts by: Blake Morton

Blake Morton has started 5 posts and replied 12 times.

Post: Approaching Someone Who Has Filed Bankruptcy

Blake MortonPosted
  • Investor
  • Waco, TX
  • Posts 12
  • Votes 1

I have found a property through Bigger Pockets that is owned by someone who has filed for bankruptcy (at the end of August). I have found through other forum posts that the best means of contacting the owner would be to skip trace and find their phone number. I have already found the owners on Facebook and plan on finding the phone number soon to contact them. My question is, what do I need to know when attempting to buy from someone who has filed chapter 7 already? I read on other forum posts when trying to buy a property with a tax lien that you should check to make sure they haven't filed for bankruptcy. I have also read that you should check the title to make sure there are not extra liens on it. I'm very new to investing and am curious, how do you search titles to ensure the lien status? Thanks for any and all input!

Post: Cash Out Refi or Sell?

Blake MortonPosted
  • Investor
  • Waco, TX
  • Posts 12
  • Votes 1

First time poster here! I am currently living in a "live in flip" so to speak. I bought my house back in August of 2019 hoping to use the GI Bill while I was in college to get into real estate investing. Fast forward to today and I am wanting to move into another live in flip. My initial thought is the best case scenario would be to cash out refinance my current home (i'm estimating $30,000 in equity) and buy another house to do a live in flip so I can rent my current house and use the cash to put towards another house. My question is, would I be able to qualify for another mortgage after refinancing my current house? Selling is not out of the question due to the neighborhood being a C at best. My fiance and I own another rent house in a C+ to B- neighborhood as well that we definitely want to keep. The current live in flip is a 2/1 and the one I would like to buy is a 3/2. Long term I believe the 3/2 will perform better due to its size and being in a better neighborhood. Any input is much appreciated!