All Forum Posts by: Lee A.

I agree with @Julian Whitaker  100%. 

I have a old 401k. How do I use some of that money to buy  a rental and rehab the property? Can I collect rent on the property if I use funds from the old  401k?

My parents have rentals property and I have a few rentals. Would it be a good idea to create and LLC with my parents to have all the property under one LLC. I have plans to do wholesale transactions but will use and trustee to handle those transactions.

Cool thanks for the information.

My market in  Pine Bluff , Arkansas is not the place to buy and flip. But with the casino that was approved a few days ago and us having the dispensers coming I see things our going to change.

On another note.

In your opinion would it be good to purchase a house for $12,000 with $7,000 in rehab time frame a month or two with an ARV of $35,000.

I went to an investment meeting last night and talked to realtor. He stated that it would be better to buy a house that needs minor work but could be ready with in a week or two. 

That would mean a jump in the cost of property around $35,000 to $50,000 with a $2,000 or $3,000 rehab. 

 I would have to get a loan from bank to pay back the mortgage at those prices.

Hello BP,

When dealing with subject to deals. How do you get around the bank having issues with you taking over the payments? I have heard that banks will call the loan with  subject to deals. I have heard of doing limited power of attorney to speak on the behalf of the person that owes the bank the note to smooth things over.

Any thoughts?

 Hello BP,

I have been looking for financial freedom and becoming the leader of my destiny for a while. I have worked in the real-estate field with my farther with his rental properties for the last 20 years. I am looking to build a brand name for myself in the real-estate market in my area.

I bought my first property 12 years ago. I moved out a little more than two years ago it’s now earning me some good cash flow. I placed it under the housing program to get my money on time like clockwork. It wasn’t easy, I had to screen tenants but I found one that’s happy with the property.

I purchased a new home to live in but obtained another job so the house I just purchased will be placed on housing also. I will be using the housing program because it’s a need for housing in my area. I would like to connect with private investor to buy and hold properties in Pine Bluff, Ar.  The area is on the rise for rebuild but that’s going to take some time. I am thinking that getting in on the real estate now will be beneficial in the long run and restore my city to the place I remember growing up as a child.

#Achievement through all human endeavors 

I am looking to build housing for  junior and senior level students that attend University of Arkansas at Pine Bluff . I found the owner of the lot  one block away from the campus .I  sent her a hand written note asking to buy her lot. She contacted me back three days later saying she would be interested in selling the land. The county says the land is worth $4,000. I would pay $2800 to $3000 max for the lot.

My question is would I need to have a title company handle the transaction or is this some I can do my self.