All Forum Posts by: Brian Kelley

@Claudia W. 

I know this is a older post, but I would vote for Pensacola, FL. Investing here is great. You can find property well below the $100,000 mark and with our military bases here you have a constant flow of people looking to buy or sell. I personal like to keep my flips ARV around $100,000 and I find them all the time. Also when it comes to your personal home. You can find plenty of acreage in the north part of the county and still be 30 min to the beach or you can find a property on the bay. Now we do have plenty of the million dollar homes as well but as long as you do a little search you can find something great. Last year we picked up a 1 acre lot on the bay with 100ft of sand beach for $60k. We found a few builders that will build a custom home for us for around $100sq/ft (as long as my wife didn't go overboard.). Your only few hours from New Orleans, Atlanta, Biloxi, Destin, Panama City.

@Brett Snodgrass 

Hey Brett

Im a Realtor here in Pensacola and it is a great place to invest in. I have been investing here since I was a senior in high school. Give me a call or email me if you have any questions or need any information. I am a member of (P.I.G.)http://professionalinvestorsguild.com/ and it is a great group. The founder of the group Matt Robinson is not on BP but he does have a lot of information and is quick to help anyone.

I am looking for Private Investor in Pensacola, FL to lend on Rehabs. Loans will be backed by the property.
Any info please let me know.

The owner has $55,000 1st and a $17,000 2nd. The house does need a lot of work. The most I can pay and still make a desent profit is $45,000. My first offer is $34,500.

So, do I need to verbally have the 2nd agree to what they will take? Then, when I write the contract, have in the contract how much goes toward the 2nd?

Sorry for the questions, but nothing I have read has told me how to deal with a 2nd mortgage or lien. Everything has told me to make a packet with tax return, hard ship letter, bank statements, and ext. and send it with my offer to the bank.
So how do I handle the other liens?
Is this done separate from the offer?

Also I have not made an offer yet. I am still getting some info from the owner.

Hey guys.
Im doing my first short sale and i have a quick question. The owner of the property has a 17,000 2nd mortgage.
Will the primary bank deal with the 2nd mortgage company or do I need to deal with them as well?