All Forum Posts by: Jose Robles

Hey BP, I've been following and learning on and off for an extremely long time. I am trying to get going already. I am looking to use my VA loan to purchase a house for me and my family to live in. I would like to go with the brrrr strategy with the first property then continue with whatever I get out of the refinance. I'm just not sure how to get it repaired once its purchased. I'm thinking purchase and repair it with hard money then refinance with the VA loan. Any input on my thought process would gladly be appreciated.

New to BP and extremely thankful for all the information that everyone posts to help us newbies. I've been researching for a while and and have gotten a ton of it from her.

I'm from NJ and have a seller in Allentown, PA with 37 year old 3BR 2 BTH house. He paid $245,000 for it 4 years ago. He says he owes about $172,000. He is looking for someone to assume his mortgage. After reserching the comps. A couple properties within 1 mile from there with simiar Square Footage and same amount of Bedrooms and Baths were selling were selling for about $225,000. Using the 70% rule equals $157,500. Several have also sold for that price. I offered him $150,000 cash and he said he would get back to me. I would try selling to end buyer for $160,000 who invests in rentals or Buy and Hold. I'm looking for minimum $2500 assignment fee. Just wondering am I on the right track in the thought process.

What fees should I expect on my behalf to make this deal?

Here's the situation
A friend of mine and his friend bought it in 99. they lived in it for a couple months and he moved out. then she moved out they just stop paying on it. I just thaught I could possibaly do something with it.

Any input or ideas apreciated

Hello everyone,

I have a couple questions and would apreciate any input.
If a house has been forclosed and boarded up for 8 years does the value go up?

The mortgage on it 8 years ago was $120000.

Is that what I would buy it for?