All Forum Posts by: Matt T.

BryanA's advise (blog) to find small local banks and credit unions. I was an all cash buyer before and have since seen the error of my ways. Not nearly as likely to have a great deal slip by me because my money is all in somewhere else.

It may not be of any real assistance, but have you considered creating a new LLC and quit claim deed the properties over to it? Don't know the full situation and I don't have any experience with it. Just a thought. Good luck.

It might pay dividends to do a little local research before you make up your mind. Scout some smaller local banks and credit unions. Find one that is "investor friendly" and will let you refinance once you buy the property. Check current rates, seasoning requirements and percentage of value they will lend for investment properties.

Being an all cash buyer is an excellent way to make sure your offer gets accepted, but it's good to know how to get some of that cash back out for potential future deals.

A lot will depend on your goals. Will you be satisfied owning the 3-4 properties or are you looking for more? Rates are great right now; I'm looking to leverage as much of this cheap money as I can.

I'm definitely not a lawyer but I'd say you are out of luck with collecting anything else from her. She sounds like a real piece of work; just be glad to be rid of her. Do yourself a favor and spend the money she did pay to change your locks.

Thanks guys.....currently sitting in Mazar, Afghanistan. Any chance of getting this thing done in Vegas? lol

Although I'm still new to the site, I'd be in for sure. I look forward to learning from the BP regulars in person. Anyone traveling further than 8155 miles (distance to DFW)???

Other than the fact that you won't be able to claim the expense, I'd be worried about from where he is getting the equipment he is installing. There's a pretty good chance there will be no warranties even if the equipment is new.

I'm not a real estate agent, but as I understand the law in my state, the seller's agent is required to submit all offers. I'd send the offer through another agent. An offer of 100k on a listing price of 125k for a property that's apparently been on the market 8 months doesn't seem too out of line to me.

You could send the listing agent an email stating you want to offer xx for the property and see how they respond. Depending on the response you get, you could report them to whatever entity regulates their license in your state. You will definitely burn a bridge but personally I'd be irked if they refused to submit my offer.

Mark B,

Did you list this service only on your Albuquerque page of Craigslist? Maybe try posting on the metro area pages in CA and AZ since that would be your target audience.

For the record, I think the service offered is great. Luckily though, my area has not yet been invaded by the "out of town" investors because the good deals are a little more difficult to find.

I think it depends largely on your geographical area. I recently found a local credit union that gave me a couple options.

1. HELOC for 75% of assessed value based on county assessors page (15 year draw).
2. Finance for 75% of appraised value.

They don't have any seasoning requirements and don't seem to care what I paid for them. I bought one of the houses for 14k in December 2010 and I'm in the process of financing it for 45k. These are NOO investment properties. Houses have to be within 100 miles of their main branch.