All Forum Posts by: Joe M.

It is my 2 bedroom 1 bath house. I thought this one would be the most difficult to rent of the two I've purchased recently.

On a side note, I used the BiggerPockets/TransUnion tenant screening and it worked very smoothly.

sorry but this sort of rubs me the wrong way a little bit. dont get me wrong, it's aweful that your nephew nearly died. however you're at the hospital where your nephew is recovering and you're seeking ways/means to sue the landlord. just seems distasteful to me.

Pretty happy about it. The tenant's background was sparkly clean w/stable job, excellent credit, no criminal junk in his background.

He was in his last place for four years. Hopefully everything turns out well!

Hey Craig:

I'm not familiar w/investing near casinos. However I believe that there was recently an ammendment that passed that actually moved the proposed location of the Columbus casino toward the west side of town rather than into the original location. You may not be to late to take advantage of this move.

My goal for this year was to purchase two homes, rehab them if necessary and rent them out.

I have purchased two homes and both of them are in the process of being rehabbed. I just need to wrap that up and get them rented out to meet my target for the year.

wow, that's a fairly scumbag thing to do.

Keep us posted and let us know if you make any progress.

Yeah the bank picked the title company. The bank was Wells Fargo, title company was Prism Title.

All told the closing took about an hour and a half on an all cash deal.

Last week I closed on an all cash REO deal and it took 15 minutes.

I refused to sign anything until the specific question I had was answered.

In particular when we started the "Notary" had no clue as to the status of title insurance or whether or not title insurance had been purchased by the seller (a condition of the agreement).

So the 3rd page of the closing documents was "buyer acknowledges receipt of title insurance...." So I said "I can't sign this because I've not been given documentation relating to title insurance". I also told my agent I wouldn't close this deal without title insurance.

So we had to call title agency that was in another state, they said we had title insurance and that the "notary" should have copy's of it. He then searches through his documents and finds it.

And so on and so forth. This is just one example of what we ran into, there were many other similar snags along the way that would require a call to the title agency for clarification.

I closed on an REO home yesterday afternoon. The title company sent a notary rather than a closing agent.

When I asked a question he would reply "I'm only acting as a notary and cannot answer your questions". So then we would have to call the title company and get someone on the phone to answer the question.

Really quite strange and a bit frustrating.

My 2 cents.

I would take your disposable income and first eliminate as much of your own personal debt as possible. Credit Cards, car loans, student loans etc.

Once that is complete then focus on building up a cash reserve. If you can put away 10K in 6 months time as you mentioned then it might be worth waiting and building up 20-30K in cash reserves.