All Forum Posts by: Curtis J De Leon

Section 8 will base rent off of how many bedrooms are offered. I have a 4 bedroom voucher for $1000.  Anything over the voucher will have to be paid by the tenant. As far as knowing if the property will be section 8 ready, you would have to have it inspected and they won't inspect until you have a tenant lined up.  The inspection isn't very hard, make sure the plugs are grounded, the hot water works, the toilets flush, drains work and light switches work. 

 Do you have anything specific you need done or a little of everything? 

@C-Dell J. I live and invest in Macon. I love the market here, I am currently finishing a BRRRR 3/2 and will rent for $900-1000. I also have a property in Warner Robins close to the base. This whole area is just dripping with potential. Hit me up sometime if you have any questions about a specific area.

Macon has some really good markets for buy and hold and flipping. The surrounding area is also very appealing, with the Air Force base, large FexEx facility, and many other desirable places of employment. I am still a novice investor, only working on my second deal, but there are plenty of homerun deals to be had. 

@Bekkah Vidal I will help if possible

Hello all,

I'm still pretty new to RE investing so I dont have a ton of money saved for down payments but I have found a SFH valued at $130k and I have the opportunity to purchase for $97k. I know that most lenders will lend up to 80% of value but how would I go about finding a lender that would fund purchase and possibly tie in closing. I would only want to do something short term (5 year or so) with ballon at the end so I can refi it to a 30 year.

Received a phone call, woman on the phone says "I'm sitting outside of the home you have for rent, I need to see it." (Red flag)

I tell her to give me 20 minutes and I will be there. I get to the house and no one is there so I call the number back and she tells me that her kid had to "piss" so they went to the gas station.

I wait for her and she pulls up and her and I assume her mother hop out of an SUV and the lady is roughly 7 months pregnant. They approach me and the mother starts the conversation with "okay so here's the deal, her husband is on his way here with all their stuff in a uhaul from Atlanta (about 70 miles away) and they need a place to stay. Get a lease together so they can have the keys and we will pay you when we can."

I had to look around for hidden cameras because this couldn't be real life. I regained myself and as nice as I could explained that I dont work like that and there is an application that will need to be filled out along with background and credit checks. It's a very simple online process that will cost $40 per adult. She looks at me and gets aggravated and says they dont have any money or access to a computer. I point out her phone and say that the application is mobile friendly and I can text the link if she would like, but there is no way to move forward without a deposit and prorated rent. She gets really mad now and tells the daughter that they need to leave because I'm just wasting their time. They waddle back to their vehicle and burn tires leaving the neighborhood.

@Trevor Scheiderer

I talked to over a dozen banks and credit union and each one was confused by my scenario, I finally talked to a broker at Guild Mortgage and she said she could make it work IF i had all the payment recorded electronically to prove my story. It took me about 6 months of searching.

@Trevor Scheiderer

I have a SFH rent to own deal right now, the seller was a big investor and felt that she had made her money so was selling off her portfolio. I looked at the last home she owned and asked if she would seller finance since I didn't have 20%. She agreed and I pur6the home for $59k with 12.5% down and $500/mo payments for mortgage and interest. I have a balloon payment due next September and have already found a bank that will count all money paid thus far as the down payment and get a 15 year mortgage on the property when I am ready. I'm only holding off because I currently have a 4% interest rate and I know that no bank can beat that.

@David Rudaitis the plan is for it to be an ensuite with a decent size walk in closet.