All Forum Posts by: Account Closed

I'm looking to make a cash offer and close in 2-4 weeks in Indiana, I'm having a hard time finding a buyers agent since My budget is about $40k, again, cash offer.  Any recomendations?

So, I'm ready, I'm buying my first multi family as an owner occupant, I have my list of properties found, and I have my pre qual letter in hand.  I however live out of state, I'm looking to book a flight in in the next week or two, and hit like 10 properties in 3 or 4 days.  Anyone got any ideas for an agent in the area?  I'm not confining myself to just city limits, and I'm wondering if I essentially will need to get several agents to help show me around- comps. of if I could find one willing to work with me for a couple of days.  I'm absolutely buying, and need a quick close. My current rental is uninhabitable.. so I'm looking to move fast.  My budget is low, 60k ish, so I know that will drive some away just on the commission. I'm hoping to avoid just cold calling them.  Thoughts?

I agree

bob, I've rerun my credit and it appears my efforts have paid off. Im sitting on a 737 fico.. yay. So, I'm actually looking at indianapolis now.  I talk to the mortgage lender in the morning.

So, we're a wierd case. I'm 34 and have been on ssdi for 7 years, I was a working Professional until I was diagnosed about 8 years ago, Likewise my wife is a Nurse, and 29 but she's been fighting cushing's disease for 3 years now, and her doctor's don't give her good odds. she was collecting her works long term disability insurance, but they cut that off less than a month ago. When she's approved for ssdi they will owe her aproxx $40k in back payments, but none of that helps us now. As a young couple without kids, everyone assumes that we should be able to work, and most don't offer much assistance. I'm capable of part time work, maybe another $500 or so a month, but my wife is unable to work at all.

So, since we have friends in phoenix, when we find a rental that looks good we are having them go to look at it and talk to the property owner. I know the real challenge is the Dogs. Before my wife got sick we used to run an animal rescue, and her 4 are what's left from those days, plus my service dog I need for getting around.

What's tough is that I know I'm not literally going to be on the street, my wife has amazing credit and over 100k credit line, I just don't want to have to run up massive debts till we find a permanent solution. We'd like to buy, but my credit is a little below the mortgage threshold, and she now has no income... Owner carry is probably a great idea.

Man, I'm getting so tired of bathing in my sink out of store bought water... Oh well, I'll keep looking.

Well, I'm dipping into my savings. Additionally, we're smart and frugal, we keep a tight budget and plan ahead, we have 6 months of dog food saved, own our cars outright, and carry no debt. and our dogs get exceptional vet care, just last year we successfully treated one of our dogs spinal cancer for $10k.  My 1k is my temporary income, since my wife is unable to work now. She lost her income about 2 weeks ago. This is probably the worst possible timing, given a few more months an we'd have more income.  The issue is I don't want to be homeless until then.

thank you everyone for taking the time to offer advice. I'll offer an update, and a clarification of what's going on.  

So, in response to many questions here's some more info.  I'm not currently receving any section 8 or other housing assistance. In fact my wife was the primary earner until she became disabled a little while ago.  I personally receive  $1k a month from ssdi. My wife's disability case is pending, so our I come is limited to my ssdi for now.  The good news is we have $6k in the bank, and quite a large credit line available.

The home were renting is of little value, there are multiple problems she's refused to fix, like electrical issues, holes in the rotting floor, broken deck-patio.  The issue after talking to the property owner, is that she's barely keeping her head above water.  If we stopped paying her rent in order to fix stuff, shed stop paying the mortgage. And the home would go into foreclosure.  

I've talked to my local city human resources person ( responsible for food stamps and other assistance) and she can't help me, I live in unincorporated crowley county and there's nobody who cares.

I got a free consultation with a real estate attorney, and he's advised me on how to get out of the lease, I'll be able to walk away as early as 12\30. 

The real issue I'm having now is finding a rental with an income of 1k monthly, section 8 waiting lists are years long, and I have a services dog, and my wife has 4 pet dogs, chiuahuas and daschounds.  

Were looking nationwide for a place just to try to make this work,  we have friends in phoenix,az, but are looking anywhere.  

Any advice on finding a pet friendly place that doesn't run screaming from a $1k monthly income?  I'm quite handy, having done electrical, plumbing,flooring,roofing and other construction work, maybe someone looking for a live in handyman, for apartments or multifamily units?

I'm not on section 8 currently. My wife recently become disabled as well, she used to be  our primary income earner, with my social security as backup, now I'm primary at 1K monthly.   The front yard has to be dug up, the pipes are 6 feet down, so heavy equipment.

So, I'm currently renting, and this weekend the water pipes froze and burst, after getting it  checked out, the problem is the property owner's responsibility, and it will require digging up the yard, and thousands of dollars of work. She says she's broke, and isn't going to fix the problem.  Sh'e not willing to take out a loan or anything.  

What do you guys think are my best options?  Obviously staying isn't going to happen, unless this is fixed, especially since I think the law requires potable water access to even reside in this home. I'm already looking into moving, but that's going to be a nightmare due to my bad credit, and fixed income. section 8 waiting lists take years, etc.. I figured I'd ask here to see if anyone had any advice.  Oh, I'm currently in colorado, but looking to relocate just about anywhere i can make work right now.  My income is ssdi so I'm not tied to a job.

I'm looking to start investing in pueblo Multi family homes for buy and hold rental income.  I've located several but I want an agent with experience with rental comps.  I've done the research, but since I'm getting started I want someone with experience to help out.

Any recommendations? Also any pitfalls that are unique to the pueblo market?