All Forum Posts by: JaMario Price

Thanks Gentlemen for your responses!! Im going to keep looking! 

Hello BP Fam,

Im in Atlanta,Ga. I found a property today. It needs work. So I was looking to get a FHA loan and house hack it. Listed price is $145k Arv $180. It needs about $20k in work. Could be made into a duplex. 3/2 upper 2/1 lower.

Brand new to the investing game and trying to figure out which way to go?!

Also are there any FHA mortgage lenders here?! If so let me know!

Thanks in advance for your help!!

@Shiloh Lundahl Great advice!! Is that money that you put in escrow your own capital?! What if youre trying to get into your first property!

@Davido Davido Thanks! Yes the son is the executor of the estate, the family is aware of the decision. The property is a really great deal $68k left on Mortgage. Arv is $150k+ , Monthly payments are $285/ month! I would need to do some work to the property to get it rent ready but the upside is great!

So I have a property in that the owner has passed away. The son is now the executor of the estate. The property has a mortgage and I offered the son $75k on a property thats worth $150k. Is there a way I can take over the payments with this property and just give the son $10k? I dont want to wholesale this property, I want to keep it for my self to either rent or put on the mls for a bigger profit. Any suggestions? Or strategies you all would reccomend?! Thanks!!

@Latifu Brooks you have properties in Lithonia?

I just signed up for online classes last week and I’m 32% done with the course. Im planning to be done by the end of December. My question is can I wholesale/invest while being an agent? Or how difficult would it be to do?!

@Nathan Norway Thanks for responding! The property is vacant. I know the owner was looking to owner finance the property with another tenant but the tenant moved out on him and the property was left in not so good shape. I don’t think the owner wants to put money into the property. Im going to ask him about owner financing.

@Ryan Webster thank you for taking time out to give me a great detailed response. I’m on it. Thanks for the boost.

@Ryan Webster hey Ryan thanks for your help. I plan to add this to my portfolio as my first investment property. I’m sorry for the lack of information. I have been in contact with the seller for over a year now. I have tried to get him to budge on his price in order for me to wholesale the deal, but after listening to BP PODCAST, and wanting real wealth and not a job as in wholesaling. I decided to put on my big boy investor pants. I want to start building my portfolio. So I thought why not give the home owner the $150k asking price and add my first property with little or no money down to start!

Now if you could explain in 5 year old terms. What do you mean when you say business plan and underwriting?