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All Forum Posts by: Brandon Holley

Brandon Holley has started 5 posts and replied 11 times.

@Bryce Stclair hey thanks man I’ll be giving them a call today.

Morning BPeeps.. I was wondering if anyone has dealt with good real estate attys in my area or surrounding? Wanted to ask great minds before calling aimlessly around town. 

Thanks in advance..

Thank you guys. I really appreciate it.

Good morning Bpeeps.. I’m lost right now in the situation that has landed in my lap and if anyone has ever gone threw anything similar I would love your feedback or feedback in general.

My grandmothers brother passed away back in Jan (Rip Roy) with no will on the property and no kids or wife to pass down. It’s has fallen upon my grandmothers older sister to maintain and or figure out what she wants to do about the mortgage on the property and she wants nothing to do with it and would rather see it get foreclosed and I don’t want that to happen. 

I happily said I would take it over and she is fine with me doing this but i don’t know what to do next. Do I have to go through probate court so I can have power of the estate? I’ve done a lot of research and still on going. I just wanted to toss this in the air for any of the great minds that are here to help. 

Thanks B.Holley

Post: REI Friendly Agent In Or Near Clarksville Tn

Brandon HolleyPosted
  • Posts 11
  • Votes 0

Good morning and Thanks for the fast replies guys. I am finally ready to purchase a buy and hold type of property that I will eventually turn into a rental. I'm currently renting a SFH that I was planning to buy in May but I'm conflicted on buying a buy and hold or wait and get what I'm in right now. I have already found a few properties in the 50k 60k range I plan to buy and hold and now I feel like I need some great guidance from a investor friendly real estate agent whom also invests themselves.

Post: REI Friendly Agent In Or Near Clarksville Tn

Brandon HolleyPosted
  • Posts 11
  • Votes 0

Looking to buy my first buy and hold rental property and I’ve hit a wall on finding a good agent to work with. 

Thanks B.Holley

@Ned Carey Thanks for that info. Your are right I was looking at some different numbers thinking aw yes these ppl like great deals. Guess I’ll have to target the owners before auction.

I’ve been looking on auction.com and have come across some pretty good looking deals but I would like to try and purchase months before the auction date. Has any of my fellow BPeers went about trying this or have had success and how do you go about the process.. Foreclosure agents or all yourself. Appreciate any feedback. 

Originally posted by @Emilio Ramirez:

you have to check the zoning on the lot first to see if the code allows for a duplex. That being said, I just built a duplex for a lady who owned the lot free and clear. She paid cash for the construction... so that's one way to do it.

A bank is going to have about a 35% Owner equity requirement, depending on your experience. Additionally the loan will be based off of your construction budget plus the cost of the land. Bank will want to see net worth and/or liquid assests equal to the amount of the loan plus reserves in case the project goes over budget.  You're looking for a local bank that does portfolio loans. I would go in and talk to them to get the exact requirements. 

Thanks for this info I really appreciate it

Thanks for your reply. No I do not own the land but I’m very interested in buying if I can build a duplex on it.