All Forum Posts by: Marianne Jarrett

John Corey thank you for your reply.

Our area real estate market, as most in the US, is extremely dry as well as volatile. Closings are being held off or completely blowing up at the closing table due to the lenders. (My oldest dd works for a RE lawyer)

The dollar houses I want to deal with are lower. And unfortunately it seems much harder to get someone in First Time Buyer.

My question regarding additional financing was to get out my "fix" investment. So that I can continue to do other projects and not be stagnant. This market shall pick up, I believe, within the next couple of years in my area. Unfortunately, I am new to investing in Real Estate. I have been seriously watching the market the last 2 years without plunging in. It seemed that the flippers inflated the prices of the modest homes purchasing them way above what I deemed a profitable price.

Regards,
MJ

I am looking at a property to flip but wonder about the ability to sell it in a timely manner. Has anyone ever gotten a line of credit or equity line on a rehabbed home after renting it. I would want to pull out money invested in the rehab to be able to continue on other projects.

Would it be best to refinance the entire project?

Thanks for your help
MJ

Thanks for the information! sounds like a business to get into while trying to accumulate cash for flips!

Any one out there doing this right know??

MJ

Hi,
I have an odd question for you. How did your neighbor get into business with banks to "get homes ready" I guess, after foreclosure? I never heard of that before and find it interesting. Does he/she ever purchase or have option to purchase these houses?

Wouldn't he or she be the better place to ask questions on getting your hands on REO's.

I am also new and learning.

MJ

Thank you so much for sharing your information!! It was fabulous!!

MJ :idea:

We will be buy, rehabbing then retailing

I can't thank you enough for the "food for thought" even so I considered the costs associated with being a Realtor, I did not think about adding them into the hard costs of what it would cost us in rehabbing since I would be focused on the property and not actively looking for listings/sales.

I am impressed with this forum since just stumbling on it and will look forward to reading more enlightning posts.

Regards,
MJ

My husband and I are investigating flipping. My question is, to those of you who flip SFH, is, would one of us becoming a Realtor be an advantage or would it cause problems with the purchasing of homes. ( I am aware of disclosures)

I have sent out many querries to Realtors in my area. NONE! have contacted me back. No one will work for us like we do. I thought that being a Realtor would educate us on the different mortgages, get us in the door at financial institutions for REO's, etc.

What have you encountered? Just surfing for thoughts and ideas.

Thanks for your help,
MJ