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All Forum Posts by: Derek Sampson

Derek Sampson has started 1 posts and replied 4 times.

Hey Alex, I am in Ma. Just to be clear, your saying you can get a loan with equity in a current property? I have a condo in Florida with maybe 30-50 in equity. I have very little cash maybe 5-10k. doing a traditional loan do you think I can get approved using that equity? Also, does an fha loan only apply to first time home buyers? I found your post very informative, thank you.

I am in Massachusetts. I just dont know where to look. Maybe I will put up some signs. I had a neighbor who got foreclosed on for a low amount of money. I could have took over his mortgage and gave him a nice chunk of change but he never told anyone. This happens often but I guess people are too embarrassed or prideful to ask for help or publicize their hardtime. Anyway, thanks ill just keep my eyes and ears open. 

@Mike M. How do you find a place like that? Its hard to meet people that are struggling and willing to sell off there existing mortgage for a small fee.
I currently do stocks and would like to diversify into real estate. I'm just lost and am looking for some guidance.