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All Forum Posts by: Melody Everett-Neddo

Melody Everett-Neddo has started 15 posts and replied 150 times.

Post: found a house!! Need Investor help or advice??

Melody Everett-Neddo
Posted
  • Quality Technician in a CNC Machine Shop
  • Rapid City, MI
  • Posts 155
  • Votes 34
Originally posted by @Jeff Rabinowitz:

It is not very likely you will be able to find a hard money lender who would consider lending on a home that you will be using as your personal residence. Dodd-Frank has convinced most private (non-bank) lenders to cease this practice.

Good to know.   Thanks for the reply, Jeff!!

Post: found a house!! Need Investor help or advice??

Melody Everett-Neddo
Posted
  • Quality Technician in a CNC Machine Shop
  • Rapid City, MI
  • Posts 155
  • Votes 34

I found a house that I want to buy as our new primary residence.  It is up for auction and I do not have the cash that it will require.  Please help......How can I get an investor to go in with me at a REASONABLE interest rate (this will be my first time using an investor) so that I can make this purchase a reality.  We plan to sell our current home after we move (provided we get it, that is) which will allow us to then get a mortgage on the "purchased with cash auction home" thereby allowing us to repay the investor (could be a year or more however??)  Once I do that, then I should have enough money to buy a 2nd property to start getting the passive income coming in.  My husband and I have blue collar jobs and a fairly good, some might even say, a rather great, income.   We are in northern Michigan.  I very much appreciate any help you might give a newbie like myself.  Thanks!!

Post: How many times can you house hack?

Melody Everett-Neddo
Posted
  • Quality Technician in a CNC Machine Shop
  • Rapid City, MI
  • Posts 155
  • Votes 34
Originally posted by @Leo Don:

Hello BP,

Just wondering how many times can I house hack multi family properties? When will a bank stop giving me loan for OOC property? Please share your experience. I already have a establish relationship with my banker. Just want to hear other experiences. 

I greatly appreciate it !

 What does OOC Property mean?  (newbie alert....LOL)

Post: FINDING DEALS!!!

Melody Everett-Neddo
Posted
  • Quality Technician in a CNC Machine Shop
  • Rapid City, MI
  • Posts 155
  • Votes 34
Originally posted by @Mike Roberts:

I'm wondering if I'm not doing something right.  i am investing full time with buy and hold strategies and fix/flip.  I'm using bandit signs, sending letters to distressed properties, craigslist and newspaper ads with minimal leads/deals.  I'm not the most patient person but I feel as if I'm just spinning my wheels.  I'm very busy but I feel I'm not being as productive as I should be.

Any advice/tips would be helpful.  

Thanks,

Mike

 Wondering what a "bandit" sign is?

Post: My $52,996.25 wholesale deal complete!

Melody Everett-Neddo
Posted
  • Quality Technician in a CNC Machine Shop
  • Rapid City, MI
  • Posts 155
  • Votes 34

I am truly impressed...would love to hear the "beginning" details...how you found the house?  How much?  why you chose that house over others in the area?  what the probate issues were?  etc...  Thanks for sharing the above!!  I love reading these!!

Post: Next action on lead (4 years behind on taxes, almost no equity)

Melody Everett-Neddo
Posted
  • Quality Technician in a CNC Machine Shop
  • Rapid City, MI
  • Posts 155
  • Votes 34
Originally posted by @Patricio P.:

I would get help from a realtor on estimating ARV and/or pull comps to get a better idea. Like @J Scott says, it's a good idea run your calculations on 100 properties before you submit you first offer. That way you have a stronger understanding of what houses are selling for.

 Where can I see @J Scott full post on this?  Thanks, Melody

Post: New Member From Illinois

Melody Everett-Neddo
Posted
  • Quality Technician in a CNC Machine Shop
  • Rapid City, MI
  • Posts 155
  • Votes 34
Originally posted by @Account Closed:

Hi everyone, I'm a high school student in Illinois and trying to learn as much as I can about real estate. I'm planning to become a firefighter paramedic and use the money I earn to invest in real estate. Currently I am mostly interested in rental properties but I am trying to learn about all types of investments. Any advice is greatly appreciated. 

 I love to see motivated and ambitious young people!!  Congrats!!  NO matter what you do, you will go far!!  Welcome to BP.  I am new at this too and wish I would have done this 20 years ago when I had a chance.

Post: Home Sale Requiring me to enter into contract with neighbors?

Melody Everett-Neddo
Posted
  • Quality Technician in a CNC Machine Shop
  • Rapid City, MI
  • Posts 155
  • Votes 34

My gut instinct says that is not something I would be willing to do.  I am not a "shared private road" type of person, however.

Post: My First BRRRR Property Successfully Completed!

Melody Everett-Neddo
Posted
  • Quality Technician in a CNC Machine Shop
  • Rapid City, MI
  • Posts 155
  • Votes 34

Gorgeous updating!!

Post: New Member in Northern Michigan!!

Melody Everett-Neddo
Posted
  • Quality Technician in a CNC Machine Shop
  • Rapid City, MI
  • Posts 155
  • Votes 34

Hi Everyone,

I am particularly interested to hear from anyone that invests in tax liens in IL and women investors of tax liens and deeds.

Anyone else here from Northern Michigan?

Hope to make a network of great investors on here.

Thanks for reading,

Melody