All Forum Posts by: Hattie Dizmond

@Necheon Cooney   Welcome aboard! There's a lot to learn, but most of what you'll need to know can be found right here on BP. 

Steve, just type the "@" symbol and maybe a couple of letters of their name and their user name should pop up at the bottom of the reply box for you to select.  @STEVEN HALL 

Welcome, and thank you for your service!

Now...Phoenix, Abilene, Dallas & Houston?  That's a wide net you're casting there.  Why so geographically dispersed?  Also, what strategy are you focused on?

Hattie

I suggest you check with a small local (portfolio) lender. With that much down and mitigation around your BK and short sale, they may be able to help you out they have a lot more latitude in their underwriting criteria

Welcome, Kevin!

Update...

Likely due to my bumbling on the front end, there was a qualified offer accepted before my investor got her contract together.

That said, I'm not discouraged.  The mistake actually turned out to be a blessing in disguise as a test balloon that had buyers coming out of the woodwork.  The Dallas market is incredibly tight and people are clamoring for opportunities.  I'm sure most of those folks who have asked to be added to my buyers list will turn out to be nothing more than tire kickers, but there are a couple who I'm certain were serious.  And, as @Tom Mole 

said...I have a buyers list NOW! 

I have moved on to other potential deals and will probably stay away from REOs, until I'm in the position to provide a POF at contract submission.

Thanks for the encouragement and support!!

Hattie

@Edwin Cruz 

@Donald Banks 

Great advice.  I'm looking at partnering for the purpose of building a track record of successful deals, so I can qualify for better terms from lenders, be they hard money, private, whatever. 

Another possibility with that 800+ credit score of yours is to find a local, portfolio lender and see if you can work out an LOC arrangement. At the very least you should be able to get a pre-approval letter that will satisfy POF requirements.

I am a new investor.  There are a LOT of things I don't know, and I can guarantee you I'll make a lot of mistakes along the way.  But, the one thing I'm confident of is my ability to make a decision and act quickly, not because I'm an expert but because I know my "farm" area.  I have focused on one school district for the last 4-month as I've been educating myself.  As a result, I can tell you with a very high degree of accuracy what a properties comps are, before I do an analysis on it.  I'm familiar enough with my "farm" area that the neighborhood and school is the only thing I need to make a decision on whether or not I need to stop what I'm doing and spend the additional 10-15 minutes it will take to complete the comps analysis.

I recommend you narrow your focus to a manageable area and learn everything you can about that space.  Then, just do it!

Check out the NTREIS market research...Dallas/Ft Worth is crushing it!

http://www.ntreis.net/

If anyone from out of town, or in town for that matter, needs feet on the ground locally, let me know.  I'll help out any way I can and maybe we can collaborate on something along the way.

Hattie

Dallas/Ft Worth

Review the market indicators for yourself ...

http://www.ntreis.net/

Welcome!! I'm new as we'll, so don't have a lot of real estate expertise, but I do know the area and market. Let me know if there is anything I can help you with. In the meantime, make sure to find and attend some of the local REIA groups.