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All Forum Posts by: Account Closed

Account Closed has started 15 posts and replied 98 times.

Post: Please help me! Need to know how to flip houses

Account ClosedPosted
  • Statesboro, GA
  • Posts 99
  • Votes 24

Education is the first step, don't rush into it. Know what you're getting yourself into. BiggerPockets can help you tremendously. Here's the link for a book you should read:

http://get.biggerpockets.com/flippingbook/?utm_sou...

Good luck to you!

Post: How do I find owner of this house?!

Account ClosedPosted
  • Statesboro, GA
  • Posts 99
  • Votes 24

This may be a dumb question, but I'm going to ask anyway. There's a house down the road where I grew up that I'm very interested in, or at least talking to the owners about their plans with the home. My problem is the house isn't occupied, so I can't just stop by or leave a note. I know by public record you can find the owner of the home through their address, but how do I find out the address? Another weird fact, the house doesn't have a mailbox... So, I have no clue to find out who owns the property.

Post: Is hard money loan based on ARV or current value?

Account ClosedPosted
  • Statesboro, GA
  • Posts 99
  • Votes 24

Quick question. I know you can get a hard money loan for around 65% LTV, but is that the current market value of the home or the ARV?

Post: Any must-read book suggestions?

Account ClosedPosted
  • Statesboro, GA
  • Posts 99
  • Votes 24

Thanks, @Kory Thaut. I'll look into that one!

Post: Any must-read book suggestions?

Account ClosedPosted
  • Statesboro, GA
  • Posts 99
  • Votes 24

I'm looking to get into real estate investments, mostly flips and wholesales to start with and work into buy and holds into the future. Does anyone have any recommendations on books that are a must-read for a real estate investor? I know there's a bunch of motivational type of books, I'm actually about to start reading The Miracle Morning. I'm looking more towards the real estate side of things. I feel like this post would help a lot of other beginners other than myself as well!

Post: Visible vs Non Visible Tattoos on Tenant Applicants

Account ClosedPosted
  • Statesboro, GA
  • Posts 99
  • Votes 24

@Mark B., tattoos are not something that should be a deciding factor on a tenant by any means, even if visible. There's plenty of people with tattoos who are very successful and great tenants, as many people on this post have said. It's just a form of art, really. It's becoming a lot more common also. Not to say that 20 years from now that everyone will be covered in tattoos, but I do believe that in that time, the younger crowd will be surprised that people in our time and in the past have been denied jobs simply for having tattoos on their arms. Of course there's some instances where it makes sense to not have a bunch of visible tattoos from a career perspective, but denying a tenant over it is a bad decision. Makes the landlord look judgemental to some. Now if a person has "racist" tattooed across their forehead, that's obviously a whole different story. Although there's probably some sort of loophole around fair housing when it comes to tattoos, I wouldn't avoid that crowd. Even if they don't have the nicest tattoos, you can't make out how well the art is from a neighbor's POV. Had to throw in my two cents being that I have a sleeve that represents my mother being a breast cancer survivor. Credit, employment history/pay, and rental history. All that matters!

Post: Co Sign on 30yr Mtg for College Student

Account ClosedPosted
  • Statesboro, GA
  • Posts 99
  • Votes 24

@Jason Clark, yes, your parents can cosign on a mortgage for you. Not saying you'd 100% be approved, but a parent can cosign on their son's mortgage.

Post: How does the economy crashing affect multifamily rentals?

Account ClosedPosted
  • Statesboro, GA
  • Posts 99
  • Votes 24

@Jason Insalaco, thanks for the response. I had a hunch that they would be relatively the same or take a minimum hit, but I've had a good bit of people tell me they actually did a little better in those times. That's good news!

Post: Tenants want new carpet

Account ClosedPosted
  • Statesboro, GA
  • Posts 99
  • Votes 24

@Erin Cassidy, if the tenants are only doing month to month, it would be skeptical. If they would sign another year, I would replace it. No need to go over the top with insanely nice carpet, though. If they're good tenants and planning on staying as long as possible, I personally would, even if you feel as if you'll replace it after they leave. Even cheaper carpet will look fine when it's new. Go cheap, keep them as long as possible, replace with good carpet or possible laminate right before putting it on the market. If they stay a year and leave, and you want to rent a little longer, keep the carpet and have it professionally cleaned. Giving them new carpet would probably be a new incentive for them to stay. Although you said they'd like to stay as long as possible, I feel like it would lock-in their decision. It's a minor upgrade that would be worth it to me if they're good tenants. I'd tell them new carpet but it being contingent on them resigning another full, 1 year lease.

Post: Will one of these 2 items help my investment?

Account ClosedPosted
  • Statesboro, GA
  • Posts 99
  • Votes 24

@Caleb Mock, that's a really good location. Planter's Row is known to attract college kids. Burkhalter Plantation is as well, actually pretty heavily there. I know where you're talking about, though. It shouldn't be too much to worry with, I had a friend rent a home for 6 months in that area. Definitely not a huge section of town where a bunch of parties get involved, once you get outside of Planter's Row and Talons Lake. If it comes down to the possibility to renting to a younger crowd, just get parents to cosign with them and put in a security deposit. I would be confident in that area.