All Forum Posts by: Lance Wakefield

Great post @Mike D'Arrigo I think there are so many advantages to real estate investing particularly if one is an active rather than passive investor. Thanks for the reminder. 

That is a great request! I am currently working on the same thing. I have done several flips but see the benefit to using the same materials on every one. I would love the list as well! Thanks

Personally I would buy more rentals with the money as long as your debt is low interest ( less than 4.5%) Like you said its personal, however if you can cash flow your current rentals and have money left over every month I would get more of those. 

Good Luck 

@Scott Scharl

I have no idea how to do this but I really like the idea! I will follow this thread because I have a few small areas I work in and I want to do this for those areas. 

I would advise getting a job paying $2000 a month. 

If you want info you need to be a little more specific. We can't tell you how to live your life. If you have a plan and want to pitch it I would be happy to give you my opinion on it. 

Best of luck. 

@Mark Fuller

Hi mark I would love to be added to your list as well. I mainly focus in Collin County but can venture to dallas for the right deal.

@Raj Kumar

The big question is what are your goals? It sounds like you would exit with about 80k, how would you invest that? and would that get you closer to your goals than keeping the property? 

Best of luck

You can get a conventional 203k loan.

It isn't called a 203K loan but many banks offer products very similar to the 203k loan. It sounds like you you just need a larger downpayment in order to make the deal work. If that is the case you can always put more money down. 

Good Luck

That would usually be a city level thing. The cities get grants from federal and state levels. The housing department at your city would be the perfect place to start. Good Luck

Living in a construction zone like that is not safe and slows down the remodel. I would get out.