All Forum Posts by: Bobby R.

@Alex Olson. I read an article on them and better.com for closing loans quickly. LD was said to be able to close in 8-21 days for a new loan. Could you PM me the contact info as well?

Thanks.

@Chris Puckett do you know any rehab buyers in the area?

@BJ Henderson I came to ask the same thing!! Working on leads now.

A friend and I will start wholesaling in Quitman MS, my friend’s hometown. Are there any investor friendly Realtors, title companies, contractors? Looking for recommendations.

A bank owned house in suburban MD came on the market for a remarkable price. It needs significant work (so a full 203k is needed, not the stremline version) and updates, but even after that, the cost would be less than comps.

After reading other questions and answers on BP, I still have other questions.

One person mentioned "luxury items" that FHA would not allow. What's considered luxury? Can I replace the blue Formica kitchen countertops with granite/quartz or with another Formica top? Is it better to buy the REO with conventional lending then rehab with a cash out refi or a second?

There’s confusion on whether the CC can be rolled into the mortgage. What’s the latest on that?

Lastly, how long does it take to get an offer on the table?

Am I right to expect the PM to give me the deposit so I can clean the unit and remit the remainder to the former tenant? He acts like its his money.

@Owen, the deposit is separate from the last months rent. I know for starters I have to get the floors, carpet cleaned, water leak fixed and the walls repainted.

We were given possession of our rental at eviction court. Tenant (ex spouse) paid a huge deposit including 3 mos rent + 2 mos deposit. The 2 remaining months rent will be used for her final 2 months (Jan-Feb). Tenant is a hoarder and needs lots of cleaning. I'm going to part ways with this PM after she's out. What happens to the deposit after the tenant and PM are done with? Does it come to me so I can clean, market etc?

We have a rental w/ a bad rental history the past couple of years.  We have a PM and a tenant who has be evicted; 2nd eviction in 12 mos.  This rental isn't local to us since we moved to MD and currently rent ourselves.  This unit has been a money pit, it's upside down and it'll costs us $13k in CC to sell it.  

We want to buy a house w/ the NACA program which requires you to not own property. Have you ever sold a rental at a loss? I don't know of any creative way to get the unit out of our name and still qualify for the NACA program.

Any suggestions?

What do you mean spit out emails?  Are you trying to do some kind of "autoresponder" back to the  seller or person who posted the CL ad?  

I used it to send me or my VA the ad where we could view the ad and respond if it's to our liking.