All Forum Posts by: Joshua Farren

If you have purchased properties in tax sales, what was your opinion of the process and the result? Would you do it again? Any tips or advice? 

Andrew, I'm in Texas. The issue I had with Zillow was due to a delay in a particular houses status. It showed active but was pulled from MLS a week before. My agent found this out after I brought this house to him but he couldn't find it outside of Zillow. I wasted a lot of time researching and driving by, which was my fault, but stung nonetheless.

Hey all!

I am Josh Farren. My wife and I have been learning and reading everything we can get our hands on for almost a year. We finally have an opportunity to take on our first real investment project and we are looking to start building a good network.

I'm in Beaumont, Tx. I'd like to do most of my investing in this area for now. Really interested in flips, BRRR, or some combo of both over a span of time.

We plan to pay cash for all or most of our first project, but we will need to find a good hard money lender to scale up. We've been 1099 contractors for the past decade, and now we are going to do this full-time if we are able. I have great credit and a few assets I can use if necessary, but I am concerned about qualifying for a hard money loan (or a refinance if we can BRRR) since I wont have income to show. Still learning about creative solutions to this, but would love your opinions.

We rebuilt our house after hurricane Harvey, and we gained a lot of experience in the process of a full rehab. We are big DIYers but will likely contract out most of the bigger parts, for the sake of time and scalability. 

Thanks for reading! Looking forward to making some good connections. 

-Josh

I have been scanning zillow/realtor every day but the delay has already bitten me. The agent I called seemed enthusiastic but he hasn't called me with any leads and I am not getting a reply from him via text now. I am considering getting in touch with a wholesaler or possibly just another agent who can keep me posted on new houses that fit my criteria. Am I doing this right? Should I be doing anything else to make this first deal happen faster? 

For those that have tried a lot of different strategies to find good deals, what is your preferred method? I am looking for cheap homes that need full rehabs that I can flip or BRRR, or below market and outdated homes that I can rehab cosmetically and flip.

@Alex Bekeza @Sean McDonald Thank you both for the replies. Those idea seems to fit my needs a bit more. I will look into them. Thank again.

Sorry if this question has been asked but I couldn't find a clear answer in what I've read. I have enough to buy and rehab my first house but I am worried about getting the financing when I'm done. I have a lot of write-offs and show little income. Can you offset this in any ways other than claiming more income and waiting the two years? I would be happy to put more in a savings account to cover mortgages for say 6 months or a year, but would that make a difference? Does this issue just depend on the bank? How do other people who are 1099 get around this issue?