All Forum Posts by: Christy Glenn

Hello, Congratulations! I wish you the best and I hope it goes in your favor.

Hello, I wish you the best in this situation. I see vacant properties all the time and just make sure I keep an eye on them. I have one down the street where I live that I am working on right now. I want to acquire that property but have a lot of work to do on it. I have another that I have been watching for the past year and found out that it was foreclosed and then owned by Tennessee Housing Authority and I called about it. They couldn't help me. That was a couple of weeks ago and now just a couple of days ago I see a Realty sign out front with bidder select with a inflated price but public records show how much the lender foreclosed on. It's irritating because I wanted to assume that property as buy-and-hold. All of this to say is you never know what's truly going on with it just hang in there and keep your head to the grindstone and just wait it out and see.

Hello, This is good conversation. I am in similar situations. I have some of my own money but I was wondering should I just reserve that money for the 20% down and just go through private lenders for the extra amount and if I have any leftover after the 20% just use it for repairs. I want to find lower priced properties in my area but they are just out of my personal price range. I went ahead and got preapproved for a mortgage for the rest. However even though I may can cover all of it myself I believe I'm going to include some of my private lenders so that I can acquire several properties instead of trying to do it all myself on just one property. I have to change my frame of mind. I thought starting with one property for now that I'm new to this game and just repair and resell. ?????? So many options! I need to talk with local investors and that will help me choose. Best of luck to you!

Hello, Krysle, welcome to BP. I am a member of MIG (Memphis Investment Group). It is a must to join if you are wanting to be successful in REI. Welcome again and hope to see you there!

Thanks, it is all great advice. I didn't realize but I double posted the same link. Anyway, in the end, the property was not for me at this time. If I had a larger team, namely, trustworthy contractors I think I would have considered it more. Oh well, there will be more.

Thanks again for the response, good day!

Christy

I am a little disappointed. The property had potential but was in need of more repair than I am comfortable with for my first deal. It was a foreclosed property in a great neighborhood with top rated schools....which is what sells here. The previous owner did a lot of home improvements themselves. I am not sure someone could get a mortgage on the property. I wouldn't be comfortable selling it without "undoing" Everything the previous owner did!

Anyway, that's the way the cookie crumbles.....NEXT!

Hello, welcome to BP!

Thanks for all of the responses; all great advice. I have the funding and everything in place.....just trying to find the right property.

Thanks, again!

Christy

Hello, thanks for posting.

Thanks, Curt, I found the post where you responded to someone else a few months back. I wanted to ask you if it was still the same so that's great that you replied.

Mark, that reply made me laugh but you are so right! Thanks, again!

Christy

I have done a lot of work and started my Real Estate Investing business. It's time to do my first deal. I am going to look at it today and make an offer. I'm soooooo scared, NERVOUS..... Whatever you want to call it........excited. I hope I don't say the wrong thing! The next thing is post for a CPA in Memphis area.....any suggestions?