All Forum Posts by: Cordell Reynolds

My father recently decided that being a landlord is not for him. He has a single property out of state that he has decided to gift to me.

The property has an ARV of approximately 180k and has a mortgage on it of approximately 118k. I'm considering 2 options:

1. Relocating my family to this lower cost of living area and continuing my current job. We would do a live in BRRRR. Taking advantage of lower interest rates for primary residents and lowering our housing expenses by approximately $800 per month.

2. Financing the needed repairs out of pocket and staying in our current location. This would net us approximately $150 per month but would allow us to stay in an area that my wife and kids really love.

What would you do?

I am a lender with a mortgage bank in the DFW market. I've been working with client who is purchasing a mobile home from his brother. Unfortunately we were just notified that the mobile home was moved from its original location in 2002. The property appraised for 136k and he is looking for a loan of 100k. Can anyone point me in the direction of potential options?

Thanks Joshua! It is private auction.

I rerecently found a house up for auction in my hometown even if the house doubles from the original bid. Any suggestions on how to raise the capital in time to strike. Btw, this will be my first purchase.