All Forum Posts by: Chris Kane

thanks flipper. i've pretty much been a viewer of biggerpockets with a few scattered posts here and their. it's been sweet though and i'm definitely grateful for it..i noticed that with the moderators and actually was planning on contacting them. i noticed that josh moved from LA recently. i lived in LA, Santa Barbara and San Fran for awhile. Denver is certainly a welcomed upgrade from Cleveland..
cheers

Hello,
I'm a RE investor from Cleveland, OH that is relocating to Denver. I'm looking to network with some Denver area wholesalers/investors etc.. in trying to find a home for myself for a discount in the downtown area. I'm not all that familiar with Denver, although I went to CU Boulder for school, but I want to be in a cooler, somewhat hip, walking area downtown. I've heard of Lodo, Highlands, All the different parks etc..I'm open to single families, condo's etc..I'm open to rehabing, ultimately the deal is what's of most importance. I know their out there in Denver I just don't have a network yet. Any assistance is greatly appreciated.
THANKS

REO's that I watched and bought when they were ready to unload

i would love a copy as well if possible. [email protected]

this is also something I have been asking around about in recent months with not much luck..

I would not count on them exercising the option, especially considering the state of the lending industry. I've come very close to doing a couple of these where people were going to stay in and lease option back, but i didn't end up doing them after talking to many people. I id buy a house from a woman in pre-foreclosure (short sale) 8 months ago and agreed tp rent it out to her until this June so her son could finish high school. I haven't had any problems yet. I think it primarily depends on what kind of position you are in and how you would want the property to fit into your portfolio. I think as long as your ok in your state, get a good deposit, get decent cash flow and buy it for no more then 170k it might be worth the risk depending on your due dilligence with the proposed tenants, but chances are most likely slim they'll buy it back and getting them out will be difficult. It's a tough one that I have pondered alot about

This is not a deal. Look at it in terms of % not 35k. You always want to be buying @70% of market value, which includes repairs. An appraisal doesn't mean much, especialy considering the state of the national real estate market and lending crisis. You have no room for a profit. This deal would be a horrible first deal.

I was wondering how many of you use a credit line to buy properties. I have been thinking about looking into obtaining one, but I don't know the details. What are the benefits/drawbacks? Muchas Gracias

i don't think that is neccasarily true. I'm getting a couple of 10% loans in the next week. If that is true, that would really suck

Ryan,
If you wouldn't mind expanding a little bit about FHA. I haven't done an FHA loan yet and I'm not totally clear on what the advantages are etc...
Thanks