All Forum Posts by: Celena Strong

My husband and I are searching for a newer home to live in. The current home we own is a traditional loan and is mortgaged under his name only. I still have not used my VA loan. So when we do purchase a newer home, we will use the VA to purchase the new home and rent this current home to start on our real estate investing journey. We do plan on having at least 6 months of rent saved in the bank in case we do not have any renters for an extended period of time. Anyone else has done this? Any other pointers I need to be aware of? We eventually want to get into flipping homes as well.

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Originally posted by @Patrice Penda:

Hey @Celena Strong

Did you mean on the direct lender’s website or the auction website?

Either way, you should check the terms that govern the purchase and sale of the REO on that website.

My understanding is that most lenders and auction website don’t allow contract assignment so if you are a wholesaler, this is an issue.

You could double-close but again check the specific terms of the agreements on that website, because there could be restrictions to reselling the property straight away.

@Patrice Penda Yes that is what I meant. And thanks for the heads up. I also got my answer last night from my mentor. Thanks again.

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Anyone have much luck when trying to wholesale a bank owned property from an auction website?

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Need a contractor to meet with me in Baltimore asap.

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Originally posted by @Rob Drum:

Good people know good people. Find one solid professional that will work with you, get to know them (key step), then ask for the best ______ (attorney, roofer, cpa) they know. Then get a referral from their referral.

Gotcha. Thanks!!

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Originally posted by @Nicole B.:

Congrats on getting started! I love your enthusiasm!! REI is a rollercoaster of a ride, so remember to enjoy the ride. There will be highs and some major lows, but it's your organizational skills, willingness to learn/grow/network, and hard work that keep you in the game. I may be posting the most optimistic response, but I think there is greatness in every one. The ones who let lows keep them down are the ones who will never find success in this business. So, you're on the right track with the mentor and networking events. I'm in the Baltimore area and hope to meet you at some of the events up this way. :)

Awesome. Yes I dont let other people's negativity get me down. I know this is HARD work. But I am no slouch. I put my focus and determination towards ANYTHING I really want. Im currently in the military (13+) so discipline and being a team player is instilled in me. Plus I am also a successful competitive bodybuilder in the figure category. That also requires a certain mindset to be able to handle whatever pressures in life throws at you (especially in a depleted state). Yes this is a new venture I am pursuing and I am just as excited to see where this can take me! Thanks for your positive vibes.

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Originally posted by @Malcolm Lawson:

Hi Celena,

Do you attend the SOMDREIG (Southern Maryland Real Estate Investing Group)? The next one is this Tuesday night in La Plata and I plan on attending. Might be a good place to also network.

I might be interested in working with you. I am a Realtor and live in Waldorf. Like someone above also mentioned I have been burnt by brand new investors before though. I have committed hundreds of hours working with clients only to have them change their minds about being investors or only submit ridiculous offers. So I don't help flippers find and buy homes off of the MLS anymore. In my opinion, the homes on the MLS are so competitive only less than 1% of the properties on the MLS has potential to be a good flip anyway and it takes a lot of work to find the few that do. Your best bet would be to find off-market properties in which case you would not need a Realtor anyway. After you flip the properties, I would be happy to work with you to get them sold on the market and would be willing to offer a slight discount in the name of building a professional relationship. I'll send you a PM.

YOU ROCK!! Yes I am signed up to attend that meetup group on Tuesday. I mentioned it in a previous comment above. :-) I definitely will make note of everything you suggested. Look forward to connecting with you!

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Originally posted by @Ned Carey:

@Celena Strong I would also suggest Anthony Owuanibe. Also Jeff Charlow from Master title and Escrow. I am assuming that is the same Master title that Tom Gilmer works for. Anthony and Jeff are in the Baltimore area. I suggest you go to SOMDREIG in LaPlata. You will be able to network with people closer to you and suggest people closer to your area. It is run by my friend @Steve Cavanaugh

Oh cool. I am attending an REI meeting that SOMDREIG is putting together in LaPlata. Thanks for the name suggestions!! This is very helpful. :-)

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All Forum Posts by: Celena Strong

Celena Strong has started 5 posts and replied 22 times.

Post: Anyone Used A VA Loan?

Post: Has Anyone Used Their VA Loan?

Post: Bidding on Properties through Bank's website

Post: Bidding on Properties through Bank's website

Post: Licensed, Bonded, & Insured Contractor Needed

Post: Licensed, Bonded, & Insured Contractor Needed

Post: Help Me Build My Team

Post: Help Me Build My Team

Post: Help Me Build My Team

Post: Help Me Build My Team