All Forum Posts by: Shawn Mcenteer

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.

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?

I figured it may be safest to ask the question on biggerpockets first because my Broker of records may be more inclined to take a path that involves having my partner join the office I am in. There could be a bias towards pushing joining my office since it would be one more member on the team.