All Forum Posts by: Lee V

Man Kirk!!! I am with you. I have been on here, submitting offers for about 3 months. I think I have submitted over 20 offers, about 80% of the asking price, but have not got any deals. I too have been discouraged, I had 3 deals that feel throught. I changed 2 realtors, finally i got a offer accepted but its a short sale, so I still have to wait. Im still looking, but decided to get my own license since I cant rely on any realtor to actualy do their job. Anyways, buest of luck... I hope to post my success on here soon also.

Has any investors out there tried this strategy that Bridget James websites express? Anyone had success with this route before? I have seen the ads online and throught Craigslist many times, but havent found any reviews.

I agreed with Cucaloco... if you dont mind buying a place and living there for a while, its a great time to buy but do your research in that area. Im from central cali, and prices are pretty low. I dont see it going any lower, as good price homes are being bought the day they come on the market. if you read on here, there will be many people saying wait wait wait... or buy buy buy, but take some time to think. i just lost my mother almost a year ago, and til today, its hard. Luckily she left you with some tools (cash and the house) that you can use for your advantage.

There are also other factors that plays into your decision, especially your credit. People on here, like Jon is going to give their opinions but they are not local and do not know your local market. There are also very negative people on here, just think before you act.

As far as your mom's house, I would suggest selling it also only because it is going to be hard to own it with your other siblings if you guys dont get along. Many seasoned investors will tell you that investing with family and friends are not that easiest. Im no expert, just a beginner investor so BEST OF LUCK and my deepest sympathy for you and your family.

did someone say PIZZA? = )

j/k but Josh you make a very good point. It is only $300, not worth losing your credit.

Now if you were me in CA, buying in 2005, paying 3k a month . .. . now that is a different story. ha ha

Good job all!

So... if you are both on the loan, do you have to BOTH be on Title at closing? The reason I am asking is because one of my offers for a house was recently rejected, and because of this rejection, the bank cannot accept another offer with my name on the offer. We decided to offer in my wifes name only..... but the HML loan was approved under both of our names... ... We re-offered in her name only with her being pre-approved for an conventional loan, but would rather used a HML.

Thanks for the response. The partner is a family member, my cousin. He wants to take advantage of the new stimulus deal, but lacks the downpayment. We came up with a plan to buy a 2-4 unit so he can use as his main residency. HIs credit is okay and income is great! He just isnt a very good saver/investor.

I on the other hand has the downpayment, but lacks the credit.

Hey Mitsu... what do you mean, "sign the mortgage but not the note"... isnt that the same thing?

Im sure its been covered somewhere before, but say you have a partner, can he get the loan for the property, but have both of you guys on title as owners?

Can I gift him money to put for a downpayment and still be on the deed/title as co-owner?

I know this is an older post, but have anyone done this and what was the results? Quit claiming into an LLC and getting a new title insurance policy?

welll the bank came out and told me that decided to not sell it for 62k, and they put it back on the market.