All Forum Posts by: Shawn Mcenteer

TY @Matt Devincenzo & @Wayne Brooks

This could however be great opportunity to purchase a property under value from a person who must sell, I just will not be able to sell it back.

I am currently speaking with an individual looking for an investor to purchase his property from him at a discounted short sale (not familiar with discounted short sale or if it even exists) and sell it back to him or a relative. Are deals like this possible? Essentially it is wholesaling a property back to the owner if my perception is correct.

I recently read increasing the value of a property can remove the PMI. An example would be adding a new bathroom and get the house reappraised. Would this be a technique that could work? Similarly appreciation could remove PMI. Not sure how true this is.

Does anyone have any helpful tips for removing or reducing PMI on an existing mortgage? The house I currently live in has a monthly mortgage payment of $1950, $300 of which is PMI. My wife and I have lived here for approx 6 months, not much equity in home yet.

I will be attending my first Sheriff sale soon and was wondering if I could get some feed back from BP. I would like advice on how to prepare for a Sheriff sale. If there is a must do checklist/guideline to follow for having a succesful purchase I would love to hear about it or like I said what do you do personaly to prepare.

Hello all.

I would like to hear some feed back on "auction.com " I have been looking up reviews and getting mixed results. Typically from what I have been reading there is a lot of uncertainty from the people that have used the site to bid on properties.With that being said there are a number of people that claim it is legitimate and the major problems stem from lack of due-diligent on the part of the bidder. Has anyone used this site and if so what do you think?

@joel owens I have not ventured much in the HML practice yet. I am sure this deal would work with HML if necessary. I will likely consult a few private investing buddies of mine first.

I have not reach out to the sellers about financing through them. But that is definitely a route I will leave open if need be.

TY all. good feed back so far keep it up :)

I have found a property that can be flipped for a nice profit. My problem is getting the mortgage to purchase the property. My wife and I just purchased our first property in July because of this we do not have much equity in our property we live at. I have 20% to put down but that would leave me with little wiggle room to rehab property. I would likely need to bring another investor into the picture but does anyone have any suggestions on how I can get around this dilemma on my own? I guess the big question is is it possible to get a loan for less than 20% on a second property with the intentions of flipping?

Does a 4 bed 1 bath go down in value because of the one bath? I have a property I am interested in and it is 4 bed 1 bath. adding an additional bath will be tough unless I remove a bed room. What do you think is better 4/1 or 3/2? I am looking to flip with a exit strategy of renting if need be.