All Forum Posts by: Kelly Madden

@Robert T. Brown - oh, I’m so sorry! I meant - did you close on it recently (like within the last few months or so). I should have worded that better!

@Robert T. Brown - Is the 1st property brand new? If so, I’m guessing it’s too soon to refinance and pull out the funds that way?

I’m starting a venture as a Virtual Assistant and want to focus on helping real estate investors. My husband and I are small time investors ourselves (3 rental properties) and I’m a licensed real estate agent in FL, but we currently are living in Japan.

Tell me what you would find helpful IF you had a VA to take things off your hands. What would you delegate?

Disclaimer: I promise not to spam or PM anyone! I just want to make sure I’m offering the right services and bringing value.

My husband and I are buying a VA foreclosure with a conventional loan (cash would have been nice, but wasn’t an option at the time). The appraisal came back subject to repairs and the VA contract states that no repairs will be made by the seller and the buyer will have to escrow repairs. The lender won’t escrow repairs having to do with wood rot and roof issues. The contract also states that the buyer is not to make the repairs and the VA will cancel the contract if the find out. Our inspection period ended yesterday, of course. What are our options here? Help, please! I need your creativity!

My husband and had talked about for ages. We were literally in “analysis paralysis”. When we sold our last residential property in June for a profit, we had enough for a down payment for a distressed property (we did conventional loan as newbies. I’m really wanting to learn more about creative financing, though!). We bought a 3 bed/2.5 bath townhome for $90,000 (20% down), renovated it, and are renting it out for $1200/month. Signing tenants tonight, actually!

Hi Georgui! I’m a new investor and real estate agent out of Fort Walton Beach, FL. My license is currently inactive, as I took some time off after the birth of my 3rd daughter. We just recently took the plunge and bought our first rental property in October. Having my license has been great and I feel like it will be even better once I activate my license again. I was with Keller Williams when I was active and plan on going back there again. Their training programs were awesome. Best of luck on your course and the state exam!!

Hi there!

First rental property here and we received our first qualified application before another prospective tenant put in their application. I was planning on writing this email. Is this okay?

“We regret to inform you that the property at 339 Dahlquist is no longer available. We received a complete application prior to yours that meets all requirements and qualifications and will be approving them for this rental.

Thank you so much for you interest in our property and we wish you the best of luck in your house hunting journey.”

Jeff S - With the self-directed IRA, doesn't the money ONLY go back into the IRA?? As in, it can't be pulled out? I'm so new at this and it's a lot of information. Thank you so much!

If they smoke, they can do it OUTSIDE. Smoke permeates EVERYTHING. We had a couple friends who found a great deal on a house in NM, but the previous owners were smokers. It took them a lot of time and money to get the smell out of all of it.

Thanks, guys. We're easily able to afford the monthly payments, I'm guessing its' the initial "cash out of pocket" that's the hardest for us. Our assets are around $50,000, but that also includes things like IRAs, TSPs, a brokerage account, and College Savings accounts, which can cause penalties, etc. But of course I know you're all right, it IS an INVESTMENT.