All Forum Posts by: Grand Wally

Is it possible to offer owner financing on a property when I still owe money to the bank on it?

Do these things:

a) Put a magnet on your car that says "I Buy Houses"

b) Tell everybody you meet "I Buy Houses" and also tell them you pay $500 for any deal they refer to you (which you end up closing)

c) Find a couple of good (emphasis) RE agents who actually know REI and call them every 2 weeks.

These actions will get you more opportunities than any website.

What do you want to do? Do you want to be a landlord or do you want to be a hands off type of investor?

Also, FYI....I heard from a CPA that often if keeping up with receipts is tedious, a copy of the check written for expenses will suffice.

Thanks Calvin.

Doing my taxes....last minute no less. I'm a single member LLC so I'm treated like a sole proprietor per the IRS. I picked up two rehabs at the end of last year and I finished them in 2009. So, I'm showing expenses with no income on these properties for 2008. I'm being truthful, but does this invite an audit?

Don't know a soul down there....but I'm in Louisville, Kentucky so send any stuff you want to to me. Thanks

Please give me your contact info so my partner can contact you about REO's in Wisconsin.

Thanks

Opinions are welcome....

A tenant has called twice now in 1 month saying they were locked out of their apartment. I drove the 30 mins from my house to let her in the first time, but this last time I told her "sorry...can't do it until tomorrow morning". I don't like this tenant and she is late paying rent each month.....

Was this a good decision to not drop everything and go let her in?

Inamiks: Where are you located?