All Forum Posts by: N B.

Thank you, Hugh.

Hi,
I was wondering (this is a question for those who have already established their real estate business):
How far out of state would you go?
Of course, knowing that the profit and everything (hotel, rental car, etc.) would justify itself at the end?

One of the biggest concerns is that - "We will start the process when the property is under contract" But wait.. I have to be pre-approved BEFORE I can even put an offer in. So, how do I work around this issue?

One more thing - how does "reimbursement of repair" works? I mean, I understand how it works, I think, but it just does not make sense to me. If I have to put my own money to repairs, and then, submit receipts, etc. to get reimbursed, then why would I want to borrow money for repairs in the first place? I don't get it. Could some one explain this to me, please?

Thank you so much!
:D

Charles, I was actually surprised myself! Thanks for support and I will most definitely keep it posted.

Well, now we are moving somewhere)
Yesterday I told him in the morning, "Well, I am going to look at the house and you'll stay with the little one."
He asked me if he could go with me) Hooorrayyy!
While I was at the place talking to a friend of mine (she is a realtor), he was running around the house checking everything: he stuck his nose into every crack, hole and place! He was actualy excited about this. He started writing things down, etc. Checked everythings and gave me an estimate on what it is going to cost to bring the place into a good condition.
When we came back home, he couldn't stop talking about the house and all the repairs.
Today, while I was still sleeping (today's my day off), by 9 AM, he had already checked rates for plastering and talked to several contractors. Wow. You are right, guys, it is one thing to talk about it, but another thing to actually go and do it :D
Well, I am going to put the offer in today.

Oops, sorry, put the topic in the wrong spot! Sorry, Admin! :mrgreen:

Here in WY, they have a lot of that stuff. I mean a lot. I guess, it depends on the area (RI does not have much, for instance – perhaps, because there is no land for it, HUH!)

Anyway, since prices in WY are out of the roof (comparing to some other states I lived in), I am trying to find something that would be nice for the beginning. I do not want to get 300 000 dollar house right away. Something small, something for first time buyers. That is why I asked. Well, you have yours for rent. What if it is a run down house (in an original location, though) - would it be suitable for fixing and selling? Should I even try? I am going to see two houses on Monday. They are stick-built. But right now, we have some great manufactured houses sitting on a market, and I know why no one wants to buy))) Should I prefer stick-built or look into manufactured houses, as well. I am sorry if it is a dumb question, but I would appreciate your opinion)))) THANKS!

Hey, guys, I have a quick question: what do you think about manufactured homes (not trailers)? Do you consider this type of housing suitable for investment or not? I know that it is hard to get financed to buy manufactured home that has been moved. Other than that... I really don't like them, or perhaps the idea of a house being not a stick-built. I don't think it is a good idea. Am I right? Am I missing something? Should I reconsider and look into that listing? What's your opinion? Just wondering. Thanks!

I have right now Toshiba Satellite. It is not even a year old and already falling apart (I am, however, a neat person and I do not throw it arund or put coffee cups on top, you know what I mean). Especially, I LOVE Toshiba customer service and repair on warranty. SH*T!

:idea: Going to look at the house on Monday. Wish me luck!

Guys, I think in order to "protect" landlord from bad tenants, one should hire property management company. Just recall when you rent an appartment: they get deposit, they check your credit report, they asked for proof of employment, etc. ect. If I will ever go into rentals, that is what I am going to do. My two cents.