All Forum Posts by: Kevin Torrence

Since this is a recent collection and the amount is small I would go ahead and settle the account. This will show potential lenders that you're not a deadbeat and that you value your credit. Put yourself in the lenders shoes. You have one applicant who accepted responsibility and paid the collector even if it was less then the full amount. And then you have an applicant who has a recent collection for a small amount and refuses to pay. Which applicant do you think looks better in the eyes of the lender?

Thanks for the response Chris. I know the question was sort of out there but there is a profound underlying tone to it that should stir the mind of rei's. After all there is something to learn from the housing crisis that sent so many into foreclosure and all of us into tougher lending qualifications. Why were so many buyers in certain markets just going with the flow and submitting offers in accordance with such rapid appreciation of home values? I know on the surface you either bid competively or you dont get the house. But why did so many just blindly accept such wild appreciation, while other markets remained more stable.

Hi Troy
Welcome to BP, I grew up in Tulsa and really decided that real estate was going to be my business before I graduated high school(B.T.Washington). Much success in your endeavors.
Kevin

I think the roofer should have called you BEFORE stopping work. The agreement was between you and the roofer. The girlfriend didnt authorize the work to start so why would the roofer allow her to authorize the work to stop.

We all know the meaning of location, location, location. But assuming that an investor has all their other ducks in a row, What is the minimum size population a city should have in order to consistently average 4 deals a year or 100k profit?

What are the most important demographics or characteristics to consider?

Thanks Bryan, I'm trying to arm myself with as much knowledge as possible. I plan to put out some bandit signs in a few weeks. I'm polishing up my scripts and presentation right now.

Hi Everyone, I am new to BP and have been trying to soak up all this knowledge. I feel like a sponge in a swimming pool. Anyways, the sub2 strategy is very intriguing to me. Can any of the Sub2 investors share with me how they handle the sellers when they balk at leaving the loan in their name?