All Forum Posts by: James H Webb III

@Matthew Dennehy Fantastic information and advice. This all makes a lot of sense. I have done some digging into this property and it seems to be a little too problematic for my experience level. I am glad to have this info moving forward!!!

@Joe P. More sounds advice! I’m trying to

Time everything out where to information I am

Gathering will make the offer make sense.

@Tchaka Owen I should be able to find that information out fairly easily 🤔 thank you for this response!!! This should shoot me down the right trajectory. On to the next obstacle at least 😊

@Hubert Kim I have an agent that I have been told about that does well with investors in the area. I may reach out to them and see what kind of advice they can give to me.

@Jim Blackburn my

Credit is stellar and I have saved more than enough for the down payment as well as closing costs if I have to use a realtor. That portion I'm not as concerned about. What scares me are the laws protecting tenants. I wouldn't mind keeping one of the tenants but I would need to screen them and raise rent. I guess I could speak with a loan officer about procuring an FHA loan on a property that is already fully occupied and see if it's possible?

I am looking to purchase a duplex in the middle tn area. The lady I am purchasing it from currently has a tenant in each side. Ideally I would like to co-sign with my sister on an FHA loan on this property and use it to get us both started on our investment journey. The numbers all check out and I have finally put the fear behind me and I am ready to make an offer but I don't know where to go from here. Should I look at a different form of funding until the tenants leave since you have to be the primary resident on an FHA loan? If so how do I tackle getting the tenants out after I purchase? They are paying $650 per door in an area that is renting for $1400 per door and I need to make a move. Any and all help or advice is greatly appreciated!!!

@Ron S. Very informative! I’ll have to look elsewhere and try to put together another deal. Thank you for taking the time to explain this so thoroughly for me!!!

@Justin Hammond i am in the middle TN market. I see what you are saying. I’m itching to find a house and make an offer as you can tell! Lol

I found a Home going through a court ordered sale via a bankruptcy. I found the mortgage company but still owns this property. I want to make an offer however I would like to know how much is owed on the house and if there are any outside liens. Any Help or guidance is greatly appreciated!

@Theresa Harris that’s along the same lines as I was thinking. Where I’m at the 1% rule is kinda way out of the window. I think I am going to finish renovations and sell it while the market is high. Thank you for your input!