All Forum Posts by: Luke Lawrence

Arlan Potter Arlan, Thanks for that reply. After visiting the property I think it's best to pass. It has a basement that needs a ton of work as well as foundation problems. I appreciate your guidance with the 65% rule. I'm just trying to get my feet wet and I think that property is way more than I can handle. Thanks fir everything.

Christopher Phillips Chris thank you for that thorough and detailed reply. After visiting the property earlier today I think it's best for me to pass on this house. It is bank owned but there needs a ton of work to be done and the margins aren't there. I appreciate you giving me resources regarding the websites I could bid on the properties with. That's a valuable starting point. I plan on looking on huds website and trying to work something out. Thanks

Christopher Phillips Thanks for your input. That helps greatly. If you don't mind would you explain what the differences between purchasing a home through Fannie Mae, HUD, or the bank? What method is usally preferred as well as what method can have the greatest discount or the easiest way for negations? Thanks

Hello Everyone, I'm located in Tuscaloosa, AL. Real estate has always interested me, and I'm looking to buy a foreclose located really close to the local area I group up in. I would be looking to fix it and flip it. The current listing price is 130k. It's currently a bank owned property. I wanted to know if most investors are able to negotiate any with the bank. I do not think there is an auction on it. I'll be meeting a buyers agent tomorrow to look at the property, so I would like any advice on questions to ask tomorrow. I would be looking to put 30k in the property and try to sell it around 200k. I would potential make 40k on it. I would like to know if those margins are to tight. Any advice would be greatly appreciated. Thanks for reading.

Hello Everyone, I'm located in Tuscaloosa, AL. Real estate has always interested me and I'm looking to buy a foreclose located really close to the house I grew up in. I would be looking to fix it up a little bit and then flip it. The current listing price is 130k. I wanted to know if most investors are able to negotiate any with the bank. I do not think there is an auction on it. I'll be meeting a buyers agent tomorrow to look at the property, so I would like any advice on questions to ask tomorrow. I would be looking to put 30k in the property and try to sell it around 200k. I would potential make 40k on it. I would like to know if those margins are to tight. Any advice would be greatly appreciated. Thanks for reading.