All Forum Posts by: Brian Ellis

When buying a house sub to the current owner has taxes and insurance escrowed. Do they cancel their policy and I get one? If so how will that work with the bank? Will it cause them to call the loan due?

I would look at how many times you could duplicate a deal like this in your area? For me I want to replace my income for you its a part time thing. I say refi and rent that thing out but keep in mind it will take a long time of renting to pay that 80k back.

Great responses!!! A quick buck is hard to turn down but that's really not my goal! I know I can sell the property at anytime and make that $20g i am trying to replace my income and this property fits perfectly into my portfolio. There are always more deals and fortunately I'm still in a position to take advantage of those when they come even with holding on to this one!! Thanks again BP

Hello all so I closed on a great property Thursday $46,000 that I intend to rent out needs about 4,000 to get rent ready and will rent for $850. On Friday I had a farmer that owns all the land around the house call me and said they wanted the property but only offered list price cause they aren't used to buying properties and didn't know how things work . Anyhow they want the house for their son and have offered me 66,000 to buy it from me. Should I take the cash and chalk it up to the easiest flip ever keep as buy and hold? Also once I put the 4000 in the house it will be worth 90,000 to 100,000

So there is a nice house in a nice neighborhood coming up on online auction the catch a tragic shooting took place at this home a little over a year ago that took a mans life. Like I said this was in a great neighborhood just a really bad situation. . I think the house would be great fixed up but is the history going to hurt everything about it. If not what are things I should consider or look into about buying this property besides the obvious?

I've been investing in RE since I was 19 I am 27 now up to this point all of my primary residences have been a fixer upper that I have either sold or turned into a rental. Now my wife and I have started our family and she says we are not living in another rehab. It's hard for me to buy anything that isn't going to be a homerun.do a lot of you involve your primary with the buisness. Do you still look for deals or get what you want?

Thanks Terry I kinda thought that's how it should work just never had anything like this happen. I should have no problems getting the place re-rented just a lil more headache thanks again!

Just curious are there any laws or regulations on how long you must own a property when it comes flipping? I am in indiana.

So I had a tenant sign a one year lease pay me first and last months rent (1600) they were moving from out in the country to my sfr in town they called me the next morning and said they couldn't do it and moved all there stuff back to there country home that they had put up for sale. How should I handle this situation? do I give them there money back or what?

Thanks for the insight. Very valid concerns on this one. I was thinking we could sign a extended lease like 5 yrs or something. Not sure if it's worth pursuing:/