All Forum Posts by: Jaron Sherwood

Does anybody have a contractor they recommend in the salt Lake area?

@gregs Thank you for the response.  That was my major concern knowing I would not have a large portion of people looking at it because the area.  

With the owner starting so high on price I won't get my hopes up.  I am in the process of getting as much data on the comps as I can,  also in contact with a contractor to get rehab quotes in place.  Once I have that I will put in an offer with all the supporting info and hope he takes it.  

In searching Craigslist for a deal I cam across a listing that talked about a 3b2b deal as-is, "needs a little tlc"  in the ad.  They have it listed for barely below the area value for other comparables. I go to see it today and it is half gutted,  the other half needs to be gutted and started from scratch.  I'm very interested because I should be able to get this for a steal of a deal. However,  it's in a c class neighborhood.  I found some comps that averaged 190-200k.  How smart would it be to attempt this flip? Should I skip over it and find another property? 

Ps this is my first investment,  I'm just getting started.  

Thanks for the comments. Brent coombs I understand what you're saying and going without bargaining would have been my route before now that I'm trying to eventually make a profit I would make sure it's a good deal. Yes I am aware of the fact that property conditions have to be in many cases better when using a VA loan. I'm more or less thinking properties that are outdated, not really distressed.

Mike B. I am a disabled veteran, I have had two VA loans now and I've only used them for sfr. I'm kinda thinking it this route so at least the other tenants would be able to pay my mortgage and I can start saving some money for my next property.

Listening to the BP podcast the other day I came to the idea of using my VA benefits to get a no money down loan for up to a fourplex. Has anybody here used the same strategy? If so, how did it work out? I'm thinking to fix it up a bit while I live there and as tenants leave, be able to refinance with a conventional loan in a year or so and do the same thing again.

Thanks Joe! I'm disappointed that I can't make that meeting.  I have to work my day job.  I had already planned on going if I could get the day off.  

Is this property still available? 

Is this property still available? Can I get more info or pictures?

Chris I'm interested in this property.  Is it still available?