All Forum Posts by: Joseph Burell

To me, there's no time like the present. If it meets your criteria I would approach it with a "how can I make it work" type mindset if its a good deal. You can interview property managers any day and see if you get the warm and fuzzy on them. You can sign a limited POA to your realtor to sign for you at closing if you'll be gone by closing date.

I think the last question comes down to your goals and what you want to achieve. You can also answer this question with an ROI vs. Opportunity Cost analysis. How much are you going to make if you invest now/when you come home vs. how much are you going to make in a savings acct or wherever you are stashing the savings.

Good luck man, keep your head down.

great insight, thanks @Justin Eaton!

You could make yourself a voting member and make them a non voting member. Literally write out everything each of you will do and both sign within the operating agreement of the LLC. As stated above though, get legal review.

@Justin Blue I actually own two duplexes out there from when I was stationed there a few months ago. I did a VA loan on one and a HML on the other and currently doing a refi with SBPC. You can get a good deal once in a while if you just keep an eye out and act fast. The 4-plexes cash flow pretty well. If you end up getting something I have a great property manager that is also very affordable I can link you in with. Feel free to send me a message if you ever want to talk more on it, I just submitted an offer on an REO duplex out there this morning actually.

So I found a property where the bank foreclosed in May ‘17 for $20k and it's listed on the MLS for $110k. I drove by to look at it today and there was a sign from the parish (this in Louisiana) that said "property will be sold for unpaid taxes on June 6, 2018"

Can someone explain to me what’s going on here? If I paid the lien off, do I get the property? Or do I purchase from the bank and the satisfy the lien at closing? It sounded like the parish was trying to foreclose on it from the bank.

Thanks!

Joseph

Does anybody have a mortgage contract that they have used in the past for private money loans?

Thank you all for the warm welcoming!

My name is Joseph Burell. I am currently serving on active duty in the Army. 

I got into real estate when I rented my house out while I was deployed, I ended up selling for a profit and was hooked. 

In the last 6mo I purchased 2 duplexes bear Fort Leonard Wood, MO. My first one I house hacked with a VA loan and now has a positive cash flow after I moved away. Second one, in the same neighborhood, I used hard and private money to purchase and will be doing a refi with a local bank shortly.

Currently, I am closing on a house in the Fort Polk area in which I am utilizing an FHA loan, and it will be a live in flip where I'll do the majority of the work. After remodeling I hope to tap into the forced equity to fund other projects and also rent or sell when I move away in a few years.

I am interested in meeting other investors and pursuing probate In this smaller town. 

Here’s to BP and networking. 

Cheers,

Joseph