All Forum Posts by: Lorie Regas

Hello again. The deal was that the seller would finance a brick home near where I live and I was bidding on the downpayment. I won the auction for about $700 out of pocket. The terms were $495 per month for 15 years and I'd own the property. Found out after we won the auction that the plumbing had been ripped out of the house as it stood vacant.

I ended up backing out of the deal and paying the seller $105 to list his property again. It was interesting to me that the new ad did not mention that the copper pipes were gone! Lesson learned...

Oh well, I did find a rent to own for my family though. I offered no money down, he countered with $2500 down and installing a new a/c unit. We locked in a purchase price 4 years from now that is already $28k below market value. So we're on a roll...Now I'm off looking for investments again.

Hi there. :lol: My name is Lorie, and I've just joined as a new REI. I'm a single mom who grew up in a family of RE agents (parents, grandparents, siblings). I took a road less traveled (non-RE) for my profession, but now that the kids are old enough to allow me to have an out-of-the-home hobby, I am launching into local RE.

Just started with an eBay impulse buy that offered owner financing a few weeks ago. I now officially own one home that I don't intend to live in! Also have 2 deals in the works for more SF housing to rent in our area.

We live in University-land, so there are lots of rental opportunities and I work at a college too, so I'm always rubbing elbows with potential tenants. I'm in the market for good deals by motivated sellers, low to no money down, and plan to buy & hold as I'm not ready for major rehab work. Just the new landlord on the block, I guess.

So, there you have it, I'll do more listening than talking for a while but am honored to be part of the BP community and look forward to hearing from some of you about your experiences (good, bad and UGLY)!

:-) Lorie