All Forum Posts by: David Christie

Thanks Abel!  What about relative price or age of neighborhoods?  Seems First-time buyers would be looking for house near the median or just below, and in older established neighborhoods (as those tend to be the affordable ones).  Have you seen this?

My goal is to develop and neighborhood profile I can use in computer searches to narrow down out-of-state markets and then I can focus my attention there when I go instead of driving everywhere to identify them (as I do locally now).

- Dave

All,

We have decided that it is time we move our investing out of our local area.  We want to find First-Time Home Buyer areas, but are having a hard time identifying the characteristics as we start our search of new areas.  

I am very interested in what the characteristics would be and why they are a good indicator as we try and narrow down our options.  Ultimately we want to use a realtor in the areas we target to verify or advise, but for now, what data should we use to identify potential areas with online data?

We would appreciate all the help we can get on this from the experiences investors in this forum!

- Dave

Raphael,

Please contact me at David@HavenPeak.com or through BiggerPockets.  I have three deals coming up in the next few months and would be interested in what you can offer.  I work with Private Lenders locally, but I expect I will exceed the funds I have lined up right now.

- Dave

Raphael,

I currently have three deals coming up in the next few months.  I would be very interested.  I am an experience investor, and can be reached at David@HavenPeak.com.

I purchased a home on a Lease-option for $100 option consideration, and $1300/month lease.  Now, two years later, I still hold that lease-option and have been renting it out for the last two years for $2400/month.  

The owner wanted $425K for the house, but the value was only $370 at the time of the lease.  I informed him I was not sure we could find a good fit as I didn't see that it would make money in the long-term if the market adjusted and the price was at $425K.  We discussed it over the course of several days and he agreed to lower the price to $417K and was happy with a structure that ensured upfront cash flow for me.  If the market adjusted, I was protected.  If the market climbed, then he would get his price.

Now, the property is valued at $500K so selling it is an option for additional cash!

There is a signed P&S agreement with the price and conditions clearly stated. The foreclosure administrator is claiming they accepted, but the bank can counter, but there is nothing in the contract about that. Thus the confusion.

Have any of you go through a sale like this?  One where you are buying through a foreclosure administrator rather than the bank directly?  If so, what was your experience?

I made an offer on a foreclosure (REO) property in my area. The company handling the foreclosure for the bank accepted my offer 3 months ago and informed us that the bank would take about 4 months to close the deal.

Yesterday, the bank replied countering our offer from $325K to $375K.  Has anyone seen this before?  I figured once the offer was accepted, that the price was set.  How can the bank counter our offer this late in the game?  We are countering back with the list of repairs and bids we have from contractors to demonstrate the house is not worth the amount they are asking, but I am unclear how this is working.

Any insights would be helpful.

If you are struggling to get your investment dollars working because you don't have the time or experience to find and do a deal on your own, contact me.  I am an experiences investor and have deals that need funding RIGHT NOW, so I can put your money to work right away!  Call, message, or email me RIGHT NOW, and let's see if we are fit.  David@HavenPeak.com, 425-533-0907 x414.  

I look forward to talking and discussing how best to grow your money!

Thank you all for replying. From what my IRA custodian says, it is completely legal and encouraged to partner with your own IRA. The caveat is that the IRA needs to be listed on the title as a separate entity. So title would need to say, " and Custodian for benefit of (FBO) [Your Name or Account number] IRA". as was pointed out earlier check with your Custodian, but this is what has been done many times by mine.

I am looking at a property and want to use my SDIRA to fund it, however, I will also have to fund part of it from my LLC as there is not enough in the SDIRA for the entire deal. Anyone have any advice on how best to do that and now be violating the "Prohibited Transaction" rule of SDIRA investing?