All Forum Posts by: Alexa Michna

I sent an e-mail to you - interested in Leesburg

Hi Everyone =) 

We do a lot of Subject to deals in Florida - we move the property into a land trust and take over the payments on the mortgage - is anyone doing this in the Fort Dodge or Des Moines Iowa area? - I am sure it is a different process - wondered if there is an investor friendly title company that someone could reccommend?

Jp Morgan/Chase is a black hole :) yes - I've tried calling the property preservation companies without any luck.  

Unless I know the bank only has a few branches like 10 or less in my local area I really don't try.

Property Appraiser should tell you which bank - from my experience I don't even try to find the person at the bank that can actually make that kind of decision - unless it is a small local bank I can walk in and talk to someone - BOA or Wells Fargo are black homles and properties can be lost in their inventory for an eternity :) but maybe it is different outside of Florida -- best of luck!

Pictures are on Zillow =)

http://www.zillow.com/homes/38224-JIM-DAUGHERTY-RD...

Fixer Upper/Great rental home, large 3 bed 2 bath layout with bonus room and inside laundry- washer & dryer included. Large Kitchen, Fireplace, beautiful yard with no neighbors too! Garage needs some TLC/new roof, cosmetic upgrades for a rental, removing wallpaper and  a few minor touch ups.

Owner financing to landlords with $20k down payment. Umatilla is under-served with rentals! 

Reno costs - for a rental $7-$9k

Flip Reno - $12-20k

Cash Price $60k

Financed Price $64,900, min 20k down, $394 payments.

Rental rates = $875-$1100

ARV = $110-130k (hard due to limited comps in the area)

6 months ago 2/2 next door sold for $80k similar shape (smaller and one less bedroom)

2 months ago 3/2 across the road sold for $180k  (50 year newer & 400 larger sq ft) 

Property is available AS-IS - buyer pays all closing costs

Welcome! CFRI is a great way to find all your local connections! 

Welcome to Orlando Miguel!

No one in their right mind would lend 100% ARV - there would be no profit for anyone except on the $997 course I guess.

There are plenty of hard money lenders if a deal makes sense but you are going to need some capitol for closing costs, points on the loan etc.  It would be beneficial to do anything you can to come up with some money from friends or family or at least put it in their head so when you do find something you have someone that may help you out. 

Hi Chris - I have a recommendation for you.  I live nearby in Grand Island and have some buy and holds as well as flips in progress now.  It took me a while to find a realtor i llI like!  She is an investior herself and I think that is one of the most important factors in finding someone to add to your team.  Shoot me an e-mail - I can't post my realtors info or Bigger Pockets pulls it as inappropriate! Let me know if there is anything else I can do locally!