All Forum Posts by: Account Closed

On an assignment contract, the seller will see how much you're making.

If you think the seller may get upset you can look into doing a double closing, it will cost you a bit more because you are paying twice the closing costs, but the seller will not know how much you are making. 

Hope that clears things up a bit. Good luck!

I think getting your brokers license is a great first step to get into the game. 

Check out chicagorealestateschool.com the whole deal, including all tests and the annual $150 fee comes out to $750, I think that's a great deal. I'm getting my license through them using the online classes. 

Good luck!

If time is the concern you can submit an offer but make sure to include an inspection contingency. That way you can get an estimate on the repair after you have the house under contract, if it ends up being more expensive then you thought you can use that to negotiate a better price, or get out of the deal without losing your earnest money. 

Don't take my word for it, get a second and third and fourth opinion but I think 25k should be enough to cover it. 

I would recommend paying the money for a good property inspection if this is a property that you are seriously considering buying. Foundation issues can be very expensive to repair. 

Nice Job, it looks great!

Do you mind sharing the numbers?

Best of luck with the sale! Hope it goes quick!

Be sure to check with your city regarding the legality of littering the streets with bandit signs before you put them up!

To answer your question dirtcheapsigns has the best prices that I know. 

Yep she qualifies for any and all financing that a regular citizen would because of her "permanent resident alien" status. 

I'm not an expert, but I just thought I would share what i would do if I was in your situation. This is also dependent on your risk tolerance. 

If I was in your situation I would sell the property, take the $80,000-$90,000 that you get from the sale (rough estimate after fees and closing costs.) Then reinvest that money into four other rentals in an area that you know well and feel comfortable investing in. 

I would put 20% down on four conventional mortgages, and have four properties being paid off, as well as having much more cash flow if you find the right deals. 

If it was me I would target distressed properties and fix them up so I get the best bang for my buck. That's just me though, it depends on weather you would like to get a slightly better deal and have to put some money into it before getting it rent ready, or if you would rather pay a little more and get a turn key property that's ready to rent, or maybe even already has a tenant in place. 

Best of Luck! 

Congratulations! This is truly inspiring, I hope to be doing projects like this in the future!

The home turned out great, Good luck on your current projects! Will definitely be following the youtube channel. 

Once you do the cash out refi the money that you receive from it IS your own cash, and you can use it for whatever you would like, including a second rental property. 

Hope that helps, and best of luck with the second rental!