All Forum Posts by: John Zavala

Welcome to BP Kalynd. I am a newbie and aspire to use REI to replace my W-2 job earnings. I don't have much to offer other than my ability to talk to people. I understand the Seller/Buyer pitch, but I don't have the funds to run with deals myself. I am interested in learning the virtual way of doing wholesaling.

What I can do is be the boots on the ground in the Central Texas area (Austin , TX; Round Rock, TX; Killeen, TX; Ft. Hood, TX and all cities to the south, east and west of the Austin, TX area.  I have been in Law Enforcement for 26 yrs. and looking for my exit strategy from Policing. 

If there is anything I can do for you and at the same time learn something new and possibly add to the REI chest, I am glad to help. In the mean time I am reading, listening to podcast and networking with Agents, and Brokers in my area.

John Zavala

Round Rock, Texas (Central Texas)

Good advice Rachel.  Thank you. 

Good advice Rachel.  Thank you. 

BP

I have been using the Fix & Flip Calculator and can't seem to find a way to separate the Purchase price from the closing and other fees. I want it to reflect that my Max Offer is 8k, but the field for the Purchase price includes closing and other fees. This mobile home needs a min. of 5k rehab. To be honest it's a bad deal, but I am practicing on how I would make the deal work regardless. This is a definite Rehab project. 16k would pay for the home out right, but it sits on a lot where the owner is paying $465 for the lot and $228 for the loan. He is 4k in arears and being evicted in two days by the Constable. My thought was to make an offer on the home for 8k. and put in 5k for floors and paint and list it for 50k.

I'm having a trouble figuring out how to get the calculator to reflect my purchase offer.

Thoughts?

Rachel,

Thank you for the advise. On a side note, I have been using the Fix & Flip Calculator and can't seem to find a way to separate the Purchase price from the closing and other fees.  I want it to reflect that my Max Offer is 8k, but the field for the Purchase price includes closing and other fees.  This mobile home needs a min. of 5k rehab. To be honest it's a bad deal, but I am practicing on how I would make the deal work regardless.  This is a definite Rehab project.  16k would pay for the home out right, but it sits on a lot where the owner is paying $465 for the lot and $228 for the loan.  He is 4k in arears and being evicted in two days by the Constable.  My thought was to make an offer on the home for 8k. and put in 5k for floors and paint and list it for 50k.  

I'm having a trouble figuring out how to get the calculator to reflect my purchase offer.

Thoughts?

Interestingly the bank referred me to the mobile home park.  Every question I asked for clarification about the property, I was told to call the mobile home park because they have an arrangement with the bank.  It appears that the mobile home park manages and services the loan for this mobile home.  I'm waiting on a call back from the mobile home park. 

Ttl owed/Payoff $16K includes fees and arears

Ttl Assessed Val $13,874, 

lot $465/mo; loan $228/mo = $693

Eviction Date: August 27, 2020

Lot payment:  Expiration Date: August 31, 2020

What strategies can I use to get the mobile home out of Foreclosure and sell within 30 days.  

Do you think that the bank would entertain a short sale, and what would be a good offer.  

The home needs a lot of work. re-do floors, repair holes on two walls, replace wood trim, paint, replace range, power wash exterior, fix all of the skirting. 

Anyone  have advice  I only have two days minimum to make a decision.

Thank you all,

Johnny

Thank you Stephen. I'm currently looking at FSBO properties. Working on my script before calling one.

Thank you Sue. I reached out to s real estate agent I know to look at the lots to tell me what am I not seeing. Again, thanks. 

I'm new to REI

I have a similar opportunity as Mike Russ... I am looking at a couple of lots averaging 0.2200 - 02900 acres (approx. 10,000 sqft - 9500 sqft), and are averaging approximately $5.5k- $8k for each lot. I have a builder that can put two town homes on one 5,500 sqft. lot. Is there a one stop shop for where I can learn if the lots are suitable for building on them? All of the lots are also FSBO and they are offering financing options.

Example:  Cash Price: $5,000 Owner Financing available $300 down plus $200 doc fee And 36 payments of $200 per month. I can go into it financing the property for $500, but can I roll the remaining $4,500 of the land into the sale of the finished home.   Thoughts?