All Forum Posts by: Breelon Bryant

 See thats the thing. It is really a "turn key" (literally no repairs and rent ready) but the only reason it is available on the market is because the previous owner did not pay the mortgage. I am going to post some pictures

 not a house hack. This property has been completely renovated with NEW appliances. Solid foundation and roof so cap ex is great. Honestly there isnt any major issues. The only reason it is like this is because the previous owner got foreclosed on so it needs no repairs for at least 10 years (barring having bad tenants)

well that was conservative numbers with a 100+ cash return. Also I just heard brandon mention that he saims to get 100+ a door from cash flow and at least 12% COC return so I figured that was an ok thing

I have found a property that is purchase price 73k

Market rent: $800

My offer: 65k

Cash flow $100+ at 12% COC return

3/2 1450 sqft

ready to move in (not turn-key) prior to purchase with no major  work needed to be done EXCEPT  future flooring due to cheap glue flooring in home. 

IT HAS BEEN SITTING FOR 302+ days on MLS!!!!!!!

Should I lower the offer due to the home being on MLS for so long? or stay at 65k?

Are LONG Sitting REO properties motivated to sell for a bank?

LENDERS, BANKERS, LONG TIME INVESTORS, REO agents, and others I need advice

Is everyone who is buying at this time finding hone inspectors? Anybody in mississippi have a good home inspector they recommend? Jackson ms?

Let me know please

Or would it be better to borrow the REHAB COST from a bank?

Here is the Situation. I am about to close on a property in which it is owner financed and I have the down payment and more. The house needs some work.

However I dont have the amount to rehab (30k contractor quote) the house.

Every lender I see says "purchase price and rehab" AND they only rehab $75,000 minimum or a percentage of ARV.

Im not asking for a lender but I am asking if REHAB ONLY loans exist for such a low loan amount?

@Guifre Mora well with that being said, in your opinion, will REO properties be the best way to buy for the next few months?

I have heard the US treasury is dropping its interest rates due to corona virus. Does this mean banks will drop their mortgage loan rates as well? If so, is this a good tome to buy properties?