All Forum Posts by: Jeremy Roach

I’m looking for a way to present a three month leave from a union roofing job to complete my first fix and flip. That I have to have finished by March 31, 2021. More ways that I can improve my time management to do both, which has not been working out for me. I had bought this house before I signed back on with this company. My dream is to be a full-time real estate investor, I feel that I’m spending too much time on my day job and not my dream. Has anybody been in this situation before? situation being no your full-time job is taking up all your time making you push your investor goes on the back burner. Any suggestions would be appreciated

Thank you!!  I figured it was time to pull the trigger and get into the game.  I am currently in the process of finding out what the property with worth.  I bought it for $15k and my county research is saying its asset at $60,000.  I'm not 100% sure that correct, but like I said I'm in the process of learning asIi go. (lots to learn)

Tomorrow I will find a HML in my area that would be willing to work with me. Thanks again for your mentoring! I'm really excited that the journey an REI has now begun and where it will take me.

I just bought an REO for a local bank with borrowed cash from an investor. Now I need to get money from another source to gut and rehab this property from top to bottom. I'm looking for advice of a few methods that I could apply. Would I be able to go to a bank and ask to refinance the house to pull the equity out of the home, then pay back my investor with that cash and also rehab the property? allowing me to get it ready to sell on the market, and once sold pay the bank loan back? This is my first property, please help. I am learning as I go.

Do realtors have to follow any type of rules referring to keeping private information shared between each other confidential? example: maybe a property that is found that is off market deal and you tell them about it, are they allowed to share that information with their colleges or pass it on to another investor as a tip? 

I'm still building a relationship with my agent and not sure if this realtor is being honest or going to try and have a friend who is more established to make offers now I told them where the deal was an address while I was asking her for some help on research.  Are there rules to this, kinda like attorney and client privileges?

Thanks and sorry if this is hard to understand, was difficult trying to paint the scenario through the message.

@J Scott, you really came through for me! I thank you very much, and I will post on the forums if & when I pull off this deal! I'm really hoping that this one will help get me some start-up capital to pursue my path to purchasing multifamily homes.

Thanks, J Scott, you have been extremely helpful.  What is this "state contract" that you are referring to?

More details: Met with a banker about getting a loan for a different property. I then have asked, " hey do you have any REO's" He showed his list and I told the banker that I would take one of the listed properties for cash. He then went on to tell me that all I have to do is put in an offer via email. That they have a comity meeting once a week and that is when they will review my offer to either accept it or counter offer it. I have submitted it and now I'm just waiting to hear back. But my question is also if I shared the address to this property that is off the market with my realtor, is she legally allowed to give that address info to a friend or colleague investor? Or are they bound to keep our conversations confidential?

Thanks! I did use a template off of a website service called Lawdepot.com. I am learning as I go.

Could an attorney handle things like submitting documents and offers? Also one more question from your experience, so it is a small bank and they are not using a listing agent. I am working with a real estate agent for my other research and shared the location of this off-market REO. Is she allowed to share that information with other investors? and steal the deal? or are Real Estate agents sworn to some clients privacy information?

@J Scott 

Do you have any recommendations for me on how to do put a professional cash offer proposal letter together and send to a bank for an REO listing? (What kinda of formate? Template?

Question: I was speaking to a lender today and I asked them for their list of REO's he pulled one up for 20,000 and said: "id sell this for $10,000 cash right now". Does it work like that? Because I just looked on Realtor.com and its an off-market deal valued at $54,000?

What is the process of buying or making an offer on a REO deal?