All Forum Posts by: Cory Mickler

You can scrap it for around 500 but you can't scrap it unless you have the title to the car.

If contacting the police or DMV doesn't solve your problem then I would call a towing service which will usually take the car off your hands and pay you $100 for it. They will then store the car for a fee which the charge to the loan holder until the loan holder either gives them the title to scrap the car or picks the car up themselves.

Good luck!

The BEST thing to do is to advertise an open house and don't show the house until it is fully refinished.

If you want to advertise online, then I suggest you only show pictures of rooms that are already fully finished and add more pictures later as soon as the rehabbed rooms are finished.

If you are in a blue collar neighborhood I would suggest getting a commercial license and building a drive-thru that sells liquor and tobacco products. It would be cheaper than building a house and the revenue it would generate would be higher as well.

If you are in a strictly residential area then your best bet is to research the value of the neighborhood. If the average house is in the 300k+ range then see if you can hire a contractor to build a house for 150k and then flip it for profit. If houses in the area aren't worth much then just hold onto the land and wait for it to increase in value.

I have seen a few properties in my area that are attractive. I came across a 6-unit condo style building that currently has 5 of its 6 units occupied and charges $720 a month plus utilities for $380,000 which I thought was a great buy but wasn't able to afford.

Now I am looking at 150,000 range and I have seen a well kept apartments in below average neighborhoods that are still demanding 450-475 a month for rent.

Personally, I want a steady real estate that has long term renters. Is it possible to this with a low end budget or am I better off paying a higher initial investment for a higher return rate higher profits in the long term?

Where can I locate buildings for sale easily? And when should I buy them? Are websites like zillow.com reliable or are there any more convenient methods to look for houses? Can i contact loan holders or property owners directly for sale information?

Welcome to BiggerPockets Jamal!

Good luck and best wishes in all your endeavors!

Is it true that if i have 640 credit score or higher I can get a loan at 3.5% interest? Is this a safe option or is it risky?

You pretty much covered everything.

I would investigate the property. Hire an inspector to check for termites or wood decay.

Learn the rules of the HOA, and if you do rent the home out, make it clear in the contract that the occupants of the home MUST OBEY by the rules of the HOA and pay for any fines for not abiding to the laws of the HOA.

If you get renters insurance make sure they cover fees accrued by the tenants if they break rules of the HOA.

From what I understand, such details on minors under the age of 18 are sealed and not accessible.

Generally, however, minors who have felonies usually have parents who have a criminal record as well so look at the parents/Guardians criminal record if you want an idea of the minor's record.

You may ask questions regarding if the minor has a criminal record although it does not have to be answered by the applicant. usually if they don't answer, they have a criminal record, however, so keep that in mind.