All Forum Posts by: Justin Bush

Just checking if any BPers will be heading to Nashville from the 15th-17th for Mobile Home University boot camp?? Looking forward to it!!!

After almost being your REI partner I am very glad for you..lol. I also have moved my investing sites to FL. Actually was on phone about hour ago with realtor talking about purchasing mobile home park. The numbers are hard to ignore. Good luck brother!!!! See you down south!

I may be coming from NJ...hope the coffee is good...

My wife and I are planning to move from NJ to FL in the next few months. While we are here and with good jobs we were looking to purchase something or things there. We aren't in an extreme rush but more importantly looking for good deal. We are looking for SF home that needs work to BRRR. Then also looking for home to live in, which we would like in the Jupiter area. Range up to 400k.

Hey Daria,

We read different peoples opinions on whom to go with, not your main bank or with your main bank, in the end we chose our main which was Wells Fargo. I don't have all the terms in front of me, just the Jets game, but they sound about the same with a rate of 3.3. With using our bank they have access to our other accounts so they know wer good for it.

Good Luck!!!

Thank you all for the replies! I spoke to my lender today to make sure all would be ok and legit. He said as far as HELOC before loan, should be OK. They will figure worst case scenario which is whole loan spent and payment every month. The loan is for 120k and rate 3.4....soo ~400$ a month diveded by 2 incomes isn't going to set off the alarms. He said go for it...better to have and not need than need and not have.

My wife and I are opening a HELOC on our current residence to have as backup for a property we are about to acquire. We should have the cash for down payment and rehabs but just wanted the money available for any unforeseens. In the loan app process we were asked if we plan on taking out another mortgage because if so we may not get approved for line of credit. We said that we weren't because again we don't intend on using it. I've seen a lot of investors have HELOCs for use as emergency cash. My wife is concerned that once we get loan, we close it next Thursday, that we will get in trouble if we get loan on this property. Anybody familiar with this scenario?

Hey Mark, I will attend if the meeting is not cancelled. I have no problem paying at the door just lemme know if it's going to happen. Good to see your still doing good

hey Christine, I don't have the exact  answer for you but I will say that my uncle owns a property in Washington, NJ that has a motel and 8 mobile homes on it. It regularly gets state inspections since it has some state occupants and he does not have his car dealer license. I was also recently totally miss informed about a recent sheriff sale from receptionist at town hall. Good luck out there!!!

Yesterday we went to the auction with a property in mind for purchase, it's actually my neighbors house, and didn't get it. We had title search done and it came back clean so we went with MAO in mind but upon presentation the rep of properties came out with 3 liens on prop, 2 of which added up to less than 7gs but one had an undisclosed amount so didn't feel comfortable going to high. Anyway we bid against the rep for little bit and in the end he got it. From what I understand that means bank got it back. I had been in touch with lawyer for bank pre-auction in effort to try to purchase but he couldn't do anything then...maybe he can now? Just wondering if anyone has in depth knowledge of post auction proceedings. Any help greatly appreciated!