All Forum Posts by: Chris Wyche

@Jeff Mason
I'm looking for a new skip tracing service and am very annoyed with the amount of bad numbers I'm getting from Batch Skip Tracing and Reiskip. They're cheap, but the amount of bad/disconnected numbers isn't worth it. What's the average percentage of good numbers retrieved with BellesLink?

Good info

 Gotcha. Equity sounds decent. I can take a look at the comps if you'd like a second opinion on it. I'm a realtor

Renee, it's not the end of the world. **** happens, and it stinks (pun intended), but you'll recover. Just look at it as a learning experience. I could tell you about my first deal and a couple others since then and it'll make you feel better, lol. But seriously, just take those mistakes as a learning experience for what not to do next time. When you succeed in this business, you'll look back and laugh at this deal

Question. Was this intended to be an investment property, or what was the end goal here? Just wondering why you were trying to get an FHA loan

@Willy Marello The general rule of thumb is to never buy based on appreciation that you can't directly control through rehabbing or increasing rents. Just make sure that the numbers work with today's value and you should be fine. Brewerytown is a good area. Like others have said, you should get with somebody and give them the address or at least an intersection to determine if it's ACTUALLY Brewerytown. Lots of investors will try to say a property is in a certain neighborhood when it's really not, which can have a major effect of value

@John Humphries Cobbs creek is the best area on the list. If you're trying to pick an area to focus on, I'd say focus on that one. t's seen pretty good appreciation over the years and and it's a solid rental neighborhood

 Hi Elaine. I see this is an older post. What happened with the property?

 Hey man. It's definitely a bad sign that permits were not pulled, but not the end of the world. If it's a good deal, you can have the place thoroughly inspected by a home inspector so you can get a good idea of any issues that may be there. I've seen properties that were done well without permits. Do you have an inspection contingency?

Thanks for the advice, guys. So you think it would be better to do a syndication to raise money? I'm a Realtor also, so I can use my commission as part of a down payment

I would take it under the right circumstances. I am familiar with master lease options. That is another way to do it. Thanks for the input!