All Forum Posts by: Kyle Penland

Make your offer contingent on on inspection and also financing...You can always have your lender turn you down for financing...Its really simple.  They don't want to disturb their tenants.

Wow, adding that much space is a huge ticket...I've added master bathrooms and bedrooms but never three rooms...Good Luck with that!  Hopefully it won't mess up the flow and layout of the home.

Wow, I agree it did need to come out, but that is just wrong...Hopefully he did it as a favor!  

@Account Closed I also have an interest in Memphis but it will vary from street to street...I am planning to enter the Memphis market in the next year or so.  Personally, I feel like there is no better information that then information that comes from the property managers in the area that work it daily...Might want to reach out to them to discuss what you are seeking and get their input.  PM me and I can give you specific names.

@Adam Bartomeo has it right...If you are the one working, you could also miss a deal by your home not being ready and missing a potential buyer.  Manage your business is my philosophy.  Also I am not the best at everything in the world...I'm a great painter but if I go in to a house and paint the entire thing, that is a lot of hours I'm saving not having to pay someone to do it, but also I could be missing the deal of a life time.  I've found it best in my past to manage versus actually do it.

@Charlie Prior Charlie!  Thanks so much for the insight you provided!  I agree, it is a great way to generate some cash on the side.  

@Andy Cross PM stands for Property Manager

@Charlie Prior Charlie, correct me if I am wrong, but if I am an authorized user can I not run a credit report on myself, find out who your credit card company is, call and request a new card mailed directly to me and go on a shopping spree?  This sounds like a great idea but too risky for me. 

How do you know you can get 1250 a month in rent?  Did you pull that off the top of your head or is it supported...Since you said there are not many rentals in the area may not be many comps either.  Most people who purchase a home put down 3% which at a 150k asking price is 4.5k so why not flip it?  Lots of people in my area cannot afford 10k to put down...Just food for thought...Best of luck to you!

WOW Jump on it! Put the sweat equity in and learn, then refinance the property or take a HELOC and buy your second. That is a sweet route. The hardest property to come by is the first.