All Forum Posts by: Dee Peterson

I'm  looking for a partner to invest in a property. The auction is next week. The house is valued around 200k. I haven't  seen the property in person yet, but I will be going by later today. If this property sales for anything under 100k there will be a potential 100k plus in equity. This will be my 1st auction looking for a experienced investor to partner up with or someone that is a really hard worker. You can contact me @ 832-654-6895 or email me @ [email protected]

@DarrenBudhan We bought our current home with an FHA loan. I don't plan on selling my home anytime soon. I do plan on staying in the duplex for a year. I work 60 miles from my house and I plan on staying there when I have to work. I work 6 months out the year so I plan on staying there a little over 7 to 8 months.

I want to buy a duplex using an FHA or low money down loan. He's my situation. I bought a house a year ago with my wife. The way it was set up was I was listed on the deed but I was left off the loan. Is it possible for me to qualify for an FHA or low money down loan? I live in Texas by the way.

Thanks @BrentPaul

I have a lady selling 3 houses in the same area. The problem I'm having is i can't find any current information on the homes. She has had the properties for 15 years so all the info I'm seeing is incorrect. Is there a place where I can go to see the current value of the homes. I'm working with her realtor and he sent me a page with the addresses and the asking price. All the properties are free and clear and she is willing to do owner finance. He are the terms 

1st house asking price 135k  3bd/2b rents @ 1100 a mo

2nd house is a duplex asking price 180k 3bd/2b rents @ 1500 a mo

3rd house 4bd/2b/1g asking price135k rents @ 1110

She is asking 20% down & 9% interest 

I was wondering if anyone could help as far as what I should do. Oh yea all 3 houses have Sec8 tenants in them the last house i listed will become vacant in 2 mo but the other 2 have long term tenants that she doesn't want me to remove because they have been there so long. Any advice would be appreciated Thanks in advance. Ps she has 7 more properties for sale but only willing to sell 2-3 @ a time due to taxes and I would like to be able to buy them in the near future if this goes well. 

In Houston TX 

I'm putting together my investment team. I need a Real Estate attorney, CPA, & an accountant. Thanks in advance. 

Brandon C. I hear you but I'm not putting money into the deal just using my credit to get the loan. If he doesn't pay his rent then the property will become mine free and clear It would be like someone gave you a rental or a flip on your 1st deal. So his credit and background aren't my problem. 

I know the guy pretty well and he has a good job. His mother messed up his credit and I'm in the process of helping him get his credit fixed. I think this will be a good partner down the road due to his access to cash. I just don't know how to set up the deal. I was thinking charge him 20% down. I got approved for a loan last month with a 15% down payment. This would give a little security since I'm using my credit. Does this sound like a good deal. Thanks guy for all the advice.