All Forum Posts by: Donnell Durden

I wonder if the community can help. My Lady friend is in search for a house in Cobb County in Ga (or pretty much any where in the Atlanta vicinity at this point) She keeps getting out bid or it’s pending almost before she could go see it. 

The forums have helped me before. So first I’m asking if anyone has a lead on a one family in GA (she prefers Marrietta) Must haves = 3 Bedrooms, 2 baths, at least 2000sqft

Her budgets a little over $400K

If no leads please let me know other method than the Zillows and Opendoors. 

I just feel helpless as she stressing because her lease is up this month. Guys, thanks in advance 

@Oleg Shalumov that would be great! I was thinking I would have to get about 20% they are asking 289k and a seller just dropped out so I could do a lower offer I’m guessing. I just spoke to the salon owner and she’s going to give me the owners contact and hopefully I can make contact as soon as tomorrow. What numbers should I be on the look out for ?

@Kirky Galt what type of rhetoric would I use to get it under contract with contingencies. And that means what exactly

(Back story)

I am set to partner with a local (CT) hair salon owner who has been a tenant for 20 years. In conversation she mentioned that the owners were trying to sell the property but the deal has fell through. I found an agent that confirmed.

I figured we could be comfortable renovating the salon if we owned the building. It would be money better spent plus there are 3 apartment above the salon so that would be additional income.

The asking price is 289k and it’s on a Main Street in the city

The salon owner has said that the property owner offered her the first option to buy but she isn’t in position to so she never pursued. Neither am I exactly (my credit utilization is high currently leveraged in my marketing company)

The property owners live in Greece and the property is poorly managed due to distance I suppose.

So my question is how can I buy this property?

I need creative ways! Can a form a group of investors to come up with a down payment? Do I need to start a business to purchase it under? Should I go through the salon owner to reach the property owners to see if they are interested in a private deal where we give them a down payment and pay the property off over time directly to them. (Since they are having a hard time selling it seems) I need ideas guys.

Thanks !

Jennifer T. Thanks Jennifer for your advice

Hey guys, Still renting until I'm in financial shape to buy but I recently need some renters advice. I just moved out August 3rd because my place was burglarized. My sons room had a chalk board walk so I primed it and was penalized. It's now Sept 12 and no check. I called on the 5th and the Landlord who is usually a jerk was very polite and said "it's probably just a couple of days late". No now it's well over 30 days. What's my move?

Jeff Dulla how true is this 30 day thing?

No love on this post

Hey guys this bar has two locations. Which will this event be held?

Hey BP,

I've been reading and taking as much away from BP as I can. One thing i learned on the podcast is to NEVER SHUT UP about your goals and try to provide value everywhere you go. So in my town I've been "putting everyone on" to all the financial pros of real estate. 

long story short I get a call from an old friend to meet p and talk about real estate. So basically he has decided to change his life and exchange occupational hazards of rivals and police for mortgages and renters. So basically he has a good amount of money and wants to make enough income via real estate to afford all of the pretty things he already has. He says his main goal is to be able to show proof of income going forward. he's clearly missing the big picture

Here I've been improving my credit for the last year and saving up my pennies and learning the craft to possibly first home buyer my way into the real estate game. Ive been exploring many financing options (as you can tell from my frequent posts). My first thought is to advise him to create an LLC or some type of fitting corporation and dump the money in there, invest and never look back to that old life.

I have mixed feelings but I see great opportunity. Also thought this is one of the few ways you can make money even if you have to take an "unexpected vacation". I basically said I'll get back to him. What I really meant was I'll get back to you after I hear what BP has to say lol.

As an aspiring investor what should I do with these circumstances? talk to me guys!