All Forum Posts by: Emmanuel Cano

hello everyone, I've been with my pro membership for about a month now, I've done nothing but analyze about 50 houses, I don't know what to do now, I don't have good credit or money to pull from to invest, I'm thinking of renting my house to maybe go and rent something cheaper and with that rent to be able to do something, I tried to download the rental applications from biggerpockets but it tells me that it is only for pro members and I am a pro member, I think I am about to give up, I just I sit on my computer and watch the good deals go by, if anyone has an idea of ​​what I can do, I'll be grateful, thanks.

ok I have 2 questions #1-what is the difference in a pre-foreclosure property and a bankruptcy property #2 I am paying 39 dollars to know when new pre-foreclosure houses come on the market in Beggerpockets, but I noticed that it does not give you the number where you can contact the owner or the person in charge of that property ,Can someone advise me how to get that information?

Quote from @Erica Ricketts:

Is there a reason why you are hesitant to reach out to a lender? 

It sounds like you are ready and rearing to go!

First of all, thanks for your time and thanks for answering my call for help. the property is in a college town, maybe 200' from the lake and it is a foreclosure, the price is 239,000 it has 3 bedrooms 2 bathrooms and parking for 3 cars, I think it will offer 228,000 with a remodeling investment of 53,000. The cheapest around this property is 337 and the most expensive is 900, being conservative the ARV of this property would be 350 or more, that leaves at least a profit of 69,000 if you wanted to fix it and sell it, but my idea was the Brrrr strategy, I will be the one to move into the house and that way I will only put the 5% down payment. And since I work in construction, I manage the money for the remodeling and make sure that everything is ready for the refinancing of that property. ,What caught my attention about that house is the fact that the basement is almost finished, for rent, and a rental of that type could at least give an income of 750 per month. (I am not looking to waste anyone's time because I know that your time is money, this would be my first investment and I have no other resource than my knowledge in construction to start this new chapter in the life of my family) sincerely thank you very much for your time.

First of all, thanks for your time and thanks for answering my call for help. the property is in a college town, maybe 200' from the lake and it is a foreclosure, the price is 239,000 it has 3 bedrooms 2 bathrooms and parking for 3 cars, I think it will offer 228,000 with a remodeling investment of 53,000. The cheapest around this property is 337 and the most expensive is 900, being aconservative the ARV of this property would be 350 or more, that leaves at least a profit of 69,000 if you wanted to fix it and sell it, but my idea was the Brrr strategy, I will be the one to move into the house and that way I will only put the 5% down payment. And since I work in construction, I manage the money for the remodeling and make sure that everything is ready for the refinancing of that property. ,What caught my attention about that house is the fact that the basement is almost finished, for rent, and a rental of that type could at least give an income of 750 per month. (I am not looking to waste anyone's time because I know that your time is money, this would be my first investment and I have no other resource than my knowledge in construction to start this new chapter in the life of my family) sincerely thank you very much for your time.

Quote from @Scott E.:

First thing you want to do is get that thing under contract and give yourself a 10 day inspection period.

Once you have the deal under contract, use those 10 days to find a hard money lender or a private lender (or a combination of both).

You don't want to draw too much attention to the deal under you have a binding contract. And you also don't want to waste a hard money or private lender's time until the deal is "yours"

If the numbers pencil out and it really is a good deal, finding the funding in 10 days will be easy.

First of all, thanks for your time and thanks for answering my call for help. the property is in a college town, maybe 200' from the lake and it is a foreclosure, the price is 239,000 it has 3 bedrooms 2 bathrooms and parking for 3 cars, I think it will offer 228,000 with a remodeling investment of 53,000. The cheapest around this property is 337 and the most expensive is 900, being aconservative the ARV of this property would be 350 or more, that leaves at least a profit of 69,000 if you wanted to fix it and sell it, but my idea was the Brrr strategy, I will be the one to move into the house and that way I will only put the 5% down payment. And since I work in construction, I manage the money for the remodeling and make sure that everything is ready for the refinancing of that property. ,What caught my attention about that house is the fact that the basement is almost finished, for rent, and a rental of that type could at least give an income of 750 per month. (I am not looking to waste anyone's time because I know that your time is money, this would be my first investment and I have no other resource than my knowledge in construction to start this new chapter in the life of my family) sincerely thank you very much for your time.

Quote from @Kevin Romines:

Will a Hard Money / Private Money / Fix n Flip lender do a deal with you even if it is your first deal. Yes. I broker those loans all the time. There are things to look out for in a loan that best fits your needs. What state are you in, I can help you along the way. 

I hope this helps?

First of all, thanks for your time and thanks for answering my call for help. the property is in a college town, maybe 200' from the lake and it is a foreclosure, the price is 239,000 it has 3 bedrooms 2 bathrooms and parking for 3 cars, I think it will offer 228,000 with a remodeling investment of 53,000. The cheapest around this property is 337 and the most expensive is 900, being aconservative the ARV of this property would be 350 or more, that leaves at least a profit of 69,000 if you wanted to fix it and sell it, but my idea was the Brrr strategy, I will be the one to move into the house and that way I will only put the 5% down payment. And since I work in construction, I manage the money for the remodeling and make sure that everything is ready for the refinancing of that property. ,What caught my attention about that house is the fact that the basement is almost finished, for rent, and a rental of that type could at least give an income of 750 per month. (I am not looking to waste anyone's time because I know that your time is money, this would be my first investment and I have no other resource than my knowledge in construction to start this new chapter in the life of my family) sincerely thank you very much for your time.

Is there a private lender in my area that is interested in working with me? I have a property that looks promising and I wouldn't want to let it go. I live in whitewater WI, I'm new to this and this would be my first investment apart from my home, any advice is helpful thanks.

ok the property that I am analyzing is a foreclosure, price is $70 and the cost of the repairs I calculate $50, the ARV $210, what do you think?