All Forum Posts by: Kevin Barker

I am interested in a Fannie Mae property in which i would flip. I believe they have a 90 day deed restriction in place. Is this correct? If so what is the shortest time frame you could flip a fannie mae property? Could you renovate and have a retail buyer under contract within the 90 day period and close on the 91st day?

I am new to land lording and i am not sure how to handle a situation. I have a individual who's lease has expired, has not even paid last months rent and has not moved out. What are my rights and steps to get this tenant out of the property? Thank you for providing feedback.

Jeff s. "It sounds like he is a car salesman in disguise"

Yes in fact he does sale cars on the side!! LOL

I am not upset that he made money on the deal. I believe a wholesaler should, but the fact that he did not disclose that i was purchasing from his wife. I had also commissioned him to also find qualified buyers of these homes. I had agreed to pay him 6% once the house sold. If i would have known this i just would have handled the situation differently not only on this deal, but other dealings i have had with him. He was my mentor and also owes me a lot of money outside of the real estate business. This guy was a huge wholesaler at one time and now has over (40) judgments against him that i have found out about recently. I am trying to figure out how to get my money back and this not happen to any other newbie investors. He is praying on newbie investors!!

I had a guy i was working with who was finding me some deals as a wholesaler and was telling me he was making around $2,000 a deal. I found out later after i saw the sales transaction recorded that the LLC that i closed with, once i looked it up on the Secretary of States website was managed by his wife? He ended up doing a double closing when i thought i was buying directly from a regular seller. Is there a law against disclosure of who the seller of the property truly is in a transaction?? He actually made on average of $7,000 on each transaction.Thanks

Thanks for the info Andrew. I see you do Sub2's, which is the same strategy i am trying to get into. What do you do next when you have this data? Do you send out letters and if so how do you locate mailing addresses if home is vacant?

What is the best way to locate homeowners who are behind on there mortgages? I know Georgia is a 30 day state, so a lot of the services you would normally purchase are not available here. I am in the Atlanta area and looking more particularlly in Fulton, Forsyth and Cherokee. Thanks for the help!

Kyle anyway you could share the capital expense projection sheet? Thanks

I have recently had a cage snipped with bolt cutters and bent over to take condenser. Lesson learned was make sure cage is substantial enough not to be cut.

I went and took a look at units and i was scared for my life! War zone for sure, but they cash flow big. Could not imagine anyone giving a loan on them. Moving onto something smaller and better area. Anyone have any leads for a complex less than 20 units in a good area of Atlanta?