All Forum Posts by: David I.

I might suggest they join a real estate club and partner up that way. I'm sure people are always looking for more money there.

Just don't trust them 100%, just my gut feeling...

Hello:

I have some friends that want to pool some money together to purchase a rental property.

I am leaning against it because a) they are friends from work, not business partners and I do not want to mix the 2. 

b), they only have $5k - $10k to invest each. 

There are other reasons, but you get the picture.

It does bring up some interesting questions that I am sure have been answered before, but I'll ask anyway.

1) If they only have $5 - 10K to invest, should they pool their money together or where should they put it??

2) What would be a realistic return on that for them? I'm sure it depends on the property, etc....

3) Does anyone have success stories and nightmares of pooling money together buying a property?

I want to be able to intelligently and nicely tell them NO.... :)

Thanks,

David

I do have equity in my primary residence.

I do not want to touch it now.

Dallas area has many, many opportunities. Just have to find the right people to work with.

I forgot to add possibility of investing in tax liens.

I realize that's stiff competition and a lot of the properties can be junk, but wanted to add that to the list of possibilities.

Sorry, forgot to mention my goals.

For now, flip.

I do own my own home.

Hello:

I realize this probably has been discussed immensely, but I thought I would ask if it's been awhile.

I have 10K to invest. I realize it is not enough to purchase, but if you were starting out with 10K, how would you invest it in the real estate market?

Mobile Homes?

Pool money together?

Invest in a REIT?

Many years ago, I owned a 4-plex, hell of a learning curve. I no longer have it and have been out of the real estate investment arena for many years.

Now I am looking to get back into it, but would like to see other's opinion on how to invest 10K.

I'm in the Dallas FW area.

Cheers.

Hello:

I've rented a home for 4 years and my pet ate some of the carpet.

It's clearly damage and I do not mind paying a little of a prorated amount.

At what point does carpet and paint (become normal wear and tear and there is no life left in the carpet. Or paint that has faded and chipped....

Thanks for the information. You guys are right. Just trying to see if it's worth it to put in an offer in. I know it also depends on the bank, loss mitigation person, the home, the area, and a lot of stupidity on their part.....

Thanks.

I found a home that is a short sale and am considering putting an offer in. 

My agent reached out to the sellers agent and she said the list price is the lowest the bank will accept. 

I find this hard to believe. 

One they already have a negiotaor assigned to the loan packet, foreclosure is slated for early December and banks never want to be a landlord. The fact that they have a negiotaor tells me they have already agreed to accept less than the origibal loan amount. 

The home is located in Dallas, tx and the bank is  bofa. 

Is there a way for my agent to find out the loan amount of the home?

Thank you. 

Hello:

I am looking for anyone who has had experience with working with VAs.

I need someone to post on CL twice daily. I have tons of inventory and need to have them posted on CL without getting flagged and removed.I also want my VA to take incoming calls and to log into a spreadsheet.

Can anyone recommend good VAs or ones to stay away from. I'm in the process of getting my business to the next level and would like to farm some of this out to a great and reasonable VA.

Thanks
David