All Forum Posts by: James Morris

Thanks Wayne.

@Wayne Brooks, I don't follow what you're saying. Probably because I don't know enough about short sales. I didn't mean we were going to give the seller an option. I was referring to what we would do with it after we bought it.

What deadline are you referring to?

Looking at a short sale 4/2 townhome thats been on the market since April. They've dropped the price 5 times since then. Its at $54,900. The exterior needs some work - masonite siding is falling apart in many places. We've only seen pictures of the inside and it looks updated - hardwood floors, granite counters, etc. Will look in person soon. Plan is to pay cash, fix up exterior siding, rent or sell. This would be our first property.

It concerns me that short sales can be a long, frustrating process from what i've read. And also there are 3 other townhomes for sale in this small complex. However, one is a similar 4/2 and they are asking $81k. There are also very, very few places for rent in this town. Thanks for any advice!

JM

Thanks guys!

And Roll Tide, Ali. Big game tomorrow vs ole miss!

Jimmy - that sounds like a good idea. I'll email you.

Hello BP community!

Joined a few weeks ago, but just got around to introducing myself. I'm just beginning to learn the basics and have been blown away by the wealth of knowledge and resources here. My goal is to create some additional monthly income with rental properties in the short term and go full time with real estate in the long run. Looking forward to interacting with the BP community.

Anyone in the Birmingham area feel free to give me a shout!

JM