All Forum Posts by: Jordan Thibodeau

It all depends, I look at a tax lien as convertible bond, a note that has the potential to be turned into an option to buy an asset. It really depends on your time table and how much cash you have in the bank. I would check out Ankit's podcast, he does a great job explaining the business.

Are you talking duplexes or apartments? How many do you currently own?

HI Nalo!

Have you been prequalified? If not, I would prepare a portfolio with: Bank Statements, Paystubs, and Assets. I would also prepare a small business plan for what you intend to do showing your pro forma statements so the banker knows you mean business.

I would go for a standard calculation because you will be leaving the house in one year.

Hi Dustin!

Have you called each credit agency and told them what has transpired? Also, who was your mortgage banker? You should contact that person to see if she can help you out.

Depends, it's more of a personal preference. I invest in Duplexes. I like having at least one tenant inside of the residence to offset tenant turn over.

You can find a longer thread about this here: https://www.biggerpockets.com/forums/12/topics/33550-duplex-triplex-quadplex-vs-sfh-

You haven't determined a niche. Let alone business model. Wholesalers focus on a multitude of customer segments so if you haven't determine what that is, you need to go back to the drawing board. Being that your question provides little to no detail of what you're trying to do, I doubt anyone could seriously give you better advice than "Depends on your business model." Check the blog posts and podcasts on wholesaling, and after listening to those, you should have better idea of what to do next.

I wish you the best with your business endeavors.

HI Quentin. Welcome to BP. IMO: I suggest you focus on what area first, nail the niche (I focus on duplexes). Do your own deals with your own money, build a track record, once you are confident in what you're doing, start taking on OP. Best of luck.

With 10% down you will incur PMI and with a credit score of high 500s, you definitely wont receive a good interest rate. Save your money until you get around 25% plus closing costs. In the mean time, work to improve that credit score.

Talk to a banker, tell him what the price of the house is, and he will provide you with the closing cost percentage.