All Forum Posts by: Dustin Mathenia

Let me start by saying I'm no expert by any means! But I am in a similar position I have recently rented out my primary residence after moving in with my gf . From what you said it sounds like you would like to get into rental properties and are willing to make some sacrifices to do it. I think it would be much easier to just buy a second property and rent it out especially if you could make it cash flow . The only reason I would see you needing to go through all the trouble of refinancing again is if you needed the money for the down payment in the long run leaving the 15 year mortgage  saving for 2 years and buying a second house as rental would probably be best and my guess is the market will be a little softer in 2 years and if the market does go down in the next few years you could have 2 houses one upside down and with no equity but hopefully still cash flowing but I'm no expert and I live in California where cash flow doesn't exist unless you bought in 2011

@Joshua Dorkin 

In my defense I bought this house before I discovered BP and I should be able to break even if the bid I have on eBay goes through.. I have not let this one bad deal detour me from investing in real estate just another lesson learned and on to the next deal .

@Rickie Mindy yes I rarely see rentals on there and they are always from mom and pop land lords and small investors not big property management I often contact them to see if they would be interested in selling but with no success but free to ask

@Mike Bereck 

Yes I have a mass of replies on the house should see how  many people show up to the open house from the 100 responses I've had. I did end up throwing a we buy houses post up got a few responses nothing good yet but didn't cost me anything I'll keep you guys posted 

So I bought this house in Montgomery Alabama sight unseen on eBay for less than 4k$ it seemed like a good deal not in too bad of shape a previous duplex a few miles from Alabama state. I've worked construction my entire life and done 1 live in flip and one extremely extensive remodel where all we saved in the house was the floor and the exterior walls . So knowing I could easily drive from California where I live to Alabama to fix up this duplex and sell it or rent it seemed to be a no brainer. After I purchased the property it took me about 7 months before I had the time to fly out and see what this place really looks like long story short on the drive there we passed 4 bail bond places going deeper into hood. I wouldn't say I was afraid to be on that street in the daylight mostly because 90% of the houses were completely ABANDONED! By the time I pulled in front of my house I knew no one would ever want to live here. The house wasn't in much worse shape than I thought I could have easily fixed it up but I have since decided to cut my losses and sell it on eBay never buying sight unseen again! I mean unless it looks like a really good deal lol

@ Marian Smith 

No I'm not asking for anything up front my plan is really to just collect people and then send a mass msg to all 100 of them letting them know of the open house and I'll go from there

So finishing up my first flip put the granite in the kitchen glass tile backsplash looks nice ..too nice for the area but not the point .I decided to try and sell this house on my own since I'm splitting the profit 4 ways and don't see what a seller agent does except put the property on the mls and collects 3%. So I decided to just list it on FB market place with just 2 pictures of the finished kitchen since the rest of the house is not finished in the first 2 days I got 50 replies mostly asking the price since I didn't list one after a week I reposted about the same result I've posted it a total of 3 times probably have close to 120 people that contacted me 2 or 3 that are really pushing for a showing if I don't sell to one of them I will group message everyone for an open house I'd be surprised if I didn't have 15 to 20 people show up for what was free advertisement! I will let you guys know what happens also there are 100 post on CL of "we buy houses" 0 on FB I'm not a Whole seller but maybe I should throw it up there and see what happens 

Be cautious there are a lot of so called whole sellers out there offering "deals" know how to recognize a good deal a lot of them pull properties off the mls and try to sell them at a mark up Idk who's buying them not investors!

Do you know any whole sellers in Visalia Tulare Hanford area?

it's cheaper on zillow