All Forum Posts by: Karen Schimpf

There are a lot of ways you can create a video.  You can use your phone's video or your camera's video and webcams like Logitech and Microsoft. I like the Microsoft Webcam the best.  Some video might need to converted to .flv (flash video) for YouTube.  You can do that with a converter like Movavi Video Converter.  Good luck!

Welcome @Creston Gerth to the BP Community.  You find BP to be very informative.  

Wishing You the Best,

@George P.

Simple....have the buyer provide you their credit report that is no older than 30 days old.  Or sign up with places like Kroll Factual Data, the company pulls all three credit reports.  Recommend you read this article about how to run a credit check.  

http://www.inc.com/guides/2010/12/how-to-run-a-credit-check.html

@David B.

It is easier to manage a property in the same area but it's not impossible.  Just make sure that the property cash flows with the cost of a property manager.  And also understand that you will be managing the property manager to evict tenants in a timely manner...5 days from the due date of rent.

Good Luck,

Hi Heather,

Welcome to BP.  You will find this forum to be very helpful in your adventure as an investor.  Good Luck.

Hi Toni,

Welcome to BP!  You will find a lot of helpful information on this forum for newbies and veterans.

Agree with @David R. bad areas mean more work dealing with tenants, evictions, repairs etc.  As a single mom and working full time, you will need to be buying properties that will not need to be managed daily.

@Drew Denham 

Sometimes the price might be worth the gamble but keep in mind, location....location...location, then what is appealing about the old house, and lastly will the property cash flow after the rehab?  

I had an old mansion located in a historical part of town that was converted into a 6 units.  Spent $350,000 on it and had to rehab it. The mansion had a lot of character and the location was close to a hospital, very hip little shops, bars, restaurants and parks etc. I never placed an add in the paper to rent.  I put a sign out front and I would have an unbelievable amount of people respond to the sign.  The property was a cash cow.

If the house is in a good location and there is something appealing about the old house it might be a good buy.   Make sure you find out what kind of repairs you are going to have to put into the property and then find out what kind of rent you can get out of it.  The bottom line to purchasing a investment property is cash flow.

Good luck.

@Jay C.

I agree with @ Mark Furguson,  a realtor protects the buyer and the seller.  To enter a contract without an a realtor ( or an attorney) could end up costing you way more than you could ever imagine.  

Also there is a difference between a residential realtor and a commercial realtor.  If you ever buy commercial real estate, my recommendation would be to get a commercial realtor. Commercial properties, contract and negotiation are much more complex.  

@Michael Malitz

The states are: Utah, Hawaii ,Nevada, Ohio, Missouri, Mass.

I do have other Blanket Loan lenders that do go into those states.