All Forum Posts by: Marco Morkous

Is it just me or is pretty much every house on auction.com cash only? Who the heck is walking around with that much cash to bid on foreclosures with? Why do people consistently auction.com as an option for foreclosures

@Jess Kinzel haven’t really tried Zillow. Have you had luck there?

Is there no one who knows way of getting actual foreclosure or preforeclosure notification through phone or email as soon as they hit the market?? Having trouble finding a good source I’ve tried list source and signed up for their list but have yet to receive anything in a more than 2 months

@Marlen Weber most definitely

Just bought my first ever investment property in Memphis Tennessee . About to start rehab phase but already thinking ahead. Due to the current climate of the economy, I’m thinking about making it a section 8 property. Those of you who are section 8 landlords what is the good and bad?

Also is it a simple process to become a section 8 landlord?

So before you say everyone’s situation is different I wanna say that part I can understand. I just want a general rule of thumb or guideline on how fast you get from closing day to having a tenant in there. That includes rehab.

So I just bought my first rental. Obviously Real estate is a huge wealth building tool. This is probably an irrational fear but my worry and the worry other keep bringing up when putting down real estate is what happens when your tenant calls you up with two problems at once such as an hvac and or plumbing issue, making your meager gains nonexistent? Valid point?

So I’ve bought my first property. It has appraised much higher than purchase price which allowed me to get an appraisal line of credit. This allows me to use that money for rehab. I will then refi and cash out. All in all, I will have made money in this deal. Good deal for a first timer.

I’m so excited that I can’t stop thinking about how people graduate from small rentals and duplexes to bigger projects like 10 unit buildings etc.

do lenders just trust them more because they own a few properties or do they usually have to sell all their small properties first and 1031 exchange to buy the 1 10 unit for example?

So I’ve purchased my first rental, it appraised way above value as is! I used that to get an appraisal line of credit, will use that money to spruce it up then refinance and cash out! Heck of a first deal thank God. My thought is, how do I get out of the mindset where I mind that I have debt. I know I have positive cash flow and that’s good debt but debt is debt. I’m always thinking well what if for some reason one of the homes I have doesn’t rent out, in that case it’s just debt. What do y’all think?

What do you guys think overall about Dave Ramsey investment And business strategies? What about Robert kiyosaki?