All Forum Posts by: Christian Roberts

Im just looking at the different ways to buy my first property. I am going to look for a cheap peice of land. A modest but nice modular and let the discounts on the home and ,from what I understand, the way you cost consciously build the modular appreciate.

thanks guys

Can someone explain why a prefab house won't appreciate the same as a stick built.

Here is a link to what I think a modular prefab or manufactured home is.
http://www.apexhomesinc.com/apex/plan/cottonwood.htm

I don't understand why if their on a foundation their just like a regular house.

chris

Hey thats great can you give me some ideas on how you went about wholesaling these guys? I have ALOT of foreclosures in my area and I want to capitalize on them.

chris

I have been looking at the list of foreclosures from the courthouse, and have found a few I am interested in. Where I fall flat on my face is how to finance a foreclosure.

Here is the scenario I like at the moment,

On the list I found a house that is in debt for 111,458.42

I then checked the comps in the area using a few sites they all say the houses around are worth 250- 280.

The house is a mess it needs alot of updating.I personally know this house, because I used to be friends with their son.

Now how can I get the information on lein holders? Real estate agents want a kick back if i go through them to purchase in a short sale. Not to mention how do I finance this property? Can I use conventional methods in a short sale and use the fha? Can I use a hard money lender?

My outs for this property would be to rehab it and refi it at the same time then use the refi money to hold it until I can sell it. If need be with the Fha I will live in it for a couple years.
I dont know where to go from here?

Please give me some guidance.

Chris

Hey guys,

I have been reading alot lately about pre construction phases, and I was wondering how hot the market is? I have been speaking to a realtor in my area which is bucks county or Greater Phila region and he says we have dropped 5-10 percent. The one thing thou is I am watching this love hate relationship I have with cookie cutter homes, and yet there gorgeous houses. I respect some of these builders like Pulte, DeLuca, and toll brothers. Well to get to my point it seems if I can get a mortgage I could own my dream house in stage one for cheap and still keep looking for investments without the d/i ratio draining my fun in life.

So my questions without the rant

Whats the typical kick back for phase 1?

How soon do you have to get in, is it when they put signs up saying comming soon, or sooner than that?

Is this trend becoming less lucrative and more restricted in terms of getting deals?

I mean I see heritage homes that are 5-10 yrs old going for 449k and a new builder across town is selling his same style for 380k. Which is just another tid bit I saw nothing to do with topic above we just sell sfh homes around 2-3k square feet like hot cakes. It just seems the new builders are selling their inventory quick, while the private guys are struggling around here! Hence my questions.

Chris

Roc I completely and Utterly agree with you!

I also second the Oc spray its quite powerful and can get you out of alot of sticky situations.

chris

GREaT JOB its been 3 weeks for me I wanted to quit before my b-day which is today. And so far I have Happy bday gift to me!!

GREAT WORK being healthy is the best for you!! just watch what you eat it is possible to not gain weight while quitting!

chris

I carry a glock 23 great weapon! Quite a punch, I prefer 40. and up so do my cop buddies. Great stopping power! Perfect size weapon for my stature being 6 foot 2. Lastly I prefer hollow points or as federal ammo makes hydrashock rounds. So when i preceive a threat, wish to god i dont have to, I dont have to worry about my rounds going through my assilant.

My hobby is investing

My profession I am in the academy to become a police officer!

chris

The paycheck to paycheck is getting old. I ran my own company for awhile so i know what it takes to run a buisness. I never have owned my own property Ive only rented. I feel I am ready to see things as a buisness opprotunity and see things as numbers. I have a strong money manager lined up that helped with the buisness. Only problems i forsee is I am young I am only 21 so people will not take my as serious as an older person. Same might be true with Contractors but I have a great time management skills. I am very internet savvy, and I know what needs to be done and can work under pressure very well. Only problem I have is money, my capitol is lack there of. All I need is an HML who will give me a loan for my credit and i can do this first house I know it.

best wishes

chris

Your completely correct, I do not know what I can bring to the table? Does this mean I have to just go for it on my own try to assemble my team and see where i end up. I just am afraid of the fact that my first deal will sink me even further back from where I started!

I've read a ton, I have learned alot and I am just thrilled to get going!
My bible right now seems to be out of all the books i Read Flipping houses for dummies. It seems to be spot on with great spread sheets and checklists.

Chris