All Forum Posts by: Lindsay Banaszewski

My mom has had a reverse mortgage for almost 10 years. Because of medical expenses and the loss of her and my dads job she now owes about what the house is worth. Now that she has gotten older she is having a hard time getting around the house and would like to move to a house that works for her. She will have a loss if she sells it and have nothing if she hands it over to the lender, if that is even an option. And she does not have money for a down payment on a new house. I would like to know if there are other options available and/or some advice.

Thank you so much in advance for your help!

Lindsay

@Gideon Sylvan: Wow, lots of information there!  I really don't care about the house, actually.  I am interested in the money that I could get from it. The house has a lot of potential to make money.  I have kind of already come up with a rough estimate of how much I need to pay in order to make a profit.  I will definitely not overpay - I can't afford to.  My offer will be my offer.

Thanks for your reply!

@Steve Kansa : The owner was a good friend of my family.  He died years ago.  He had a mortgage of over $300k on it.  He was the only owner and there is no will.  The house has been through a couple of different real estate companies over the years.  No offers.

@Max Fisher : I will do that.  Thank you!

@Dwayne Gottlieb: I am definitely not going to pay the asking price - I'm not that inexperienced :) Since it has been so long without any offers, I think I may be able to get it at a good price.  He did owe a lot of money on the house, but I am sure the bank wants at least some of their money back.  The city also pays to maintain the house.  So I'm sure everyone wants to get rid of this house.

Thank you all for your replies:)

I am new to real estate and have never done a deal before.  The house across from me has gone into foreclosure and has been sitting there empty for years.  It has 4 beds and 2 baths - 1,792 sqft.  Last time I was in the house it needed a lot of work done.  Not sure how much the city has done to it, though.  The agent is asking for $235k (has been reduced) for it which is a lot for the amount of work that needs to be done.  My estimate for repairs is around $50k, maybe more.  I live in a good area - quiet, three schools within a 5 minute drive, businesses in the area are growing, etc.  It really is a good place to live.  I would like to rent it out to get a steady income.

Problem?  I am not sure how to get started.  What should my first steps be?  I don't want to get into something I don't understand. 

Any suggestions or advice is very much appreciated!  Thanks in advance!

*I am also looking for a mentor!*

Hello @Account Closed !

I am new to REI and have not made any deals yet. I am trying to learn as much as I can and get my team together. I would love to speak with you. My number is 410-504-2974. I always have my phone with me, so call anytime. My email is [email protected]. 

Look forward to speaking with you!

Lindsay 

Hello everyone!

Need some names of some reliable general contractors in Baltimore, MD.  Please only recommend contractors that you have used.  Thanks so much!

Lindsay

Yes, I am all of those things but I am worried about messing up. I have read the BP guide and listened to a few podcasts and done internet research on REI, and I am still nervous about diving in. I do not have a lot of money, so I do not want to mess up. When I came across this mentor apprentice program, I thought it would be a good, safer way to start. I just want to know if this is a reputable company.

This is the website:

http://www.freedommentor.com/apprentice/?sig=103&utm_source=Microsoft+PPC+Advertising&utm_campaign=Desktop&utm_medium=Apprentice+Offer

Any information is appreciated.

I have been online for hours, looking at local investment opportunities when I came across this Freedom Mentor apprentice program.  I was so excited about it I signed up to see if I was eligible.  I guess I will get a call tomorrow.  Anyways, I was just wondering if anybody has heard anything, good or bad, about this guys company.  Any thought?

Wow, thank you all for making me feel so welcomed!  @J. Martin 

Thank you all for the great advice, it really helps. I have already read most of the BP beginner guide. I learned more from that guide than I did from hours of REI research online. Paul, thanks for the book suggestions. I have been trying to find a good REI book, but there are so many out there I couldn't decide on one. Thanks again and hope to see you all at a REI club meeting!

Hello everyone!

My name is Lindsay Banaszewski. I am 22 years old and reside in Hampstead, Maryland. I am just starting out in REI, so I have a LOT to learn. I have yet to decide what area I want to focus on - it's just all so overwhelming. But with all of the information on the site and all of your help, I am sure I will learn fast. Hopefully, I can invest in my first property soon!