All Forum Posts by: Jay V.

Unfortunately I will not be able to make it today. I hope to next time!

I am looking into a SFH but, it is a VA foreclosure. I have zero experience in buying/bidding on foreclosures and can not find much information on how the VA buying process works.

The house in question is priced well below market value and, going from the pictures, there is not a lot of work needed. It is also in a good neighborhood but, has been on the mls for almost 2 months.  So I'm also wondering why a more experienced investor or flipper hasn't picked it up.

Could there be something that I am missing or something that I need to know? It does say that it is a rehab loan or cash deal because of the possibility of lead based paint. Thanks for the help!

@Marlon Wilson Thanks! I have been spending A LOT of time going through all of the information this site has to offer!

Thank you for the information, John!

Hello all! I am new to BP and just closed on my first rental property last week. I have always had an interest in making money in real estate and when an opportunity arose I took it! I paid all cash for this home ($25K).

Now, I want another!

I have talked with my bank about a conventional loan, but my debt to income ratio just barely prohibits it. I already have a tenant in my newly acquired home (she's a neighbors daughter that wants to live close to mom) and expect her to be there for a very long time.

I guess my questions is where can I start looking for funding? I do have some cash, but of course, I want to leave as much as possible as working capital.

Any help for a newbie would be much appreciated.

Thank you!

Hi, I officially closed on my first investment property today and I think I am doing somethings backwards.

I closed on the house in my name and not a LLC. This afternoon I went online and created a LLC. for this rental property and a side business that I started earlier this summer (the side business is totally unrelated to real estate). My question is: Do I need to now transfer the house into my newly created LLC, and if so, how do I go about doing that?

I am very new to the rental property world and would appreciate and advice on the "particulars" of the business. I actually already have a tenant lined up to move in next month.

Thank you for any help!