All Forum Posts by: JAMIE Doyle

am unaware of one existing... was told everything is golden and waiting to order the appraisal.

im sorry if i gave the impression i was working with a broker. i am dealing directly with the mortgage sales manager for key bank in my area. he is supposedly nemero uno for home loans in the area.

well the financing is real, my buddy got his house late last year on same program. it's called the key community loan, it's a first time low to moderate income loan.

i just feel "stalled" right now.

well thats kind of my problem here josh...

i did tell him i needed him to be straight with me even if it's bad/no news, i just want to be informed.

a little more back story here... i was working with another guy @ key before this and he stalled me for 5 weeks on another property before saying "they said no" and "i'm quitting key bank" in the same sentence, he was actually fired by the way. all of his files got dropped on this guy who is the sales manager.

this guy is difficult to get ahold of and when you DO get him to respond he states "everything is going great and i'm in contact with the underwriter" and "everything is golden, all i have to do is order the appraisal". he has not once returned my re agents calls or emails when needing or sharing info on the transaction and she is telling me she's never worked with a banker like him.

i'm feeling "fed up" which i just keep telling myself that these things are normal for the "first time buyer" process... right? :-(

ok so i'm in the process of buying my first home...

i found a 100% loan through key bank and since we're trying to save every penny that we can for the new place we thought this option was perfect. well my banker has been telling me for a few weeks now that everything was fine and going smooth but yesterday (3 days before closing) he calls me and says we need an extension... when asked why he told me that there was a lock put on my loan that was approved 3 weeks ago and now the couldn't order the appraisal until the lock was lifted.

well i just try to keep telling myself that this is part of the process and dont get too down on the situation. we got our extension but the sellers are desprate to get out of this property and are getting a little worried. when i try to speak with anyone else with key bank i'm told i can use aoother banker if i want to start the whole process over again. :-(

any words of encouragement or advice out there for me?

:cry: :cry: :cry:

hello all.

i am interested in learning about rei and was wondering if anyone in the portland area would be interested/willing to meet for coffee or lunch and "discuss" the biz.

i looked into nwrei club but current job is nights so i can not attend meetings, weekends would be ideal. i am looking for active investors to let me "pick their brain" of sorts and just compile some contacts at the same time. :mrgreen:

you can pm me and i will reply to see if anything can be worked out. thank you.
jamie doyle

so i recently received my pre-approval for a home loan (100% @5.5) and am searching for my first purchase to be my primary residence. i am excited to say the least since i have been lurking on this site as well as others and am wanting to get into rei as part time cash flow realizing independence some day.

my question is this... in this market with homes on the cheap right now would it be inconceivable to refi in the near future to get started in "rentals"? now i usually live by the rule "go big or go home" but in this case i'm willing to start small buying maybe a duplex or 4 plex and pulling equity out for more purchases over time.

i am in no hurry to be rich i just want to see roi and positive cash and be comfortably independent someday. i would like any feedback and i dont expect people to pull any punches so swing away. am i thinking wrong here or is this doable (obviously simplified of course)?

thanks to you all in advance... :idea: :idea: :idea:

fishing, fishing and.... oh yeah, more fishing. spend more time with my wife and kids and id probably go to school to do me some learnin'. i have so many interests i could definitely kill some time in a class room.

so i was online looking at surplus properties in two of the three counties here where i live. most of the properties are small 3000-5000 sf. and cannot be developed because size/zoning requirements. however... these properties are !cheap! im talking under 2k sale price.

so here's my thought. would these be something to pick up just to "hold" or maybe to go to neighbor and offer to sell to them to up their lot size? could there possibly be zoning trouble with selling to neighboring owner?

now i know that there is no guarantee that the nighbors would be willing to buy but these properties are all over the place and aren't selling so the county has to do something with them right?

i dont know, just a thought.