All Forum Posts by: Bob B.

Found these while cleaning up the basement. Dr. Robert Lowery "Buying Foreclosures" from 1992 and "Nothing Down" from Robert Allen 1984. I'll be glad to mail them to the anyone that asks, before they spend money on a guru. 

@Michael Gray Since there are residential units in the building already, I assume there won't be a zoning issue.  If you have a good handle on the reno costs, rental rates and overall rental market then this sounds like a good plan.  

ABC News article on OB closing

https://abcnews.go.com/Health/...

As of last Tuesday you will be turned away at the bridge going to the Outer Banks if you can not produce a drivers license with an Outer Banks address or have a special permit.  You will not be allowed to cross even if you are a property owner.  No renters allowed.  The one hospital for the entire Outer Banks only has 13 beds and could easily be overwhelmed.  Forget rentals for awhile and even owners of second homes are turned away.  

I called the SBA Friday morning. It took 3 phone calls and several hours to get anyone on the phone that could actually hear me. Their phone lines were messed up. The rep. said the best way to apply was on-line and to attach tax returns and other documents. He said a loan officer would be assigned in a week to 10 days. Based on what I have seen, the SBA is offering loans to LLs but I would bet their focus will be retail and manufacturing businesses. It would surprise me that we will be anywhere near the front of the line. The system is already jammed up and there will be a massive backlog very soon. @micheala g.is proof that they are already overwhelmed. Don't count on the government to help. How many LLs did they help last time?

Unfortunately, now is when your (supposedly) friend, leverage, can turn into an alligator.

@Account Closed

You must be a young whippersnapper if you think a 61 year old woman is an OLD WOMAN. If so I must be ancient.

She is vintage.

Foreclosure sales in Georgia are held in person and with everything going on I'm curious if anyone has heard of them being postponed. 

Just saw a post on FB where a young woman wants to start a petition to have the GA Governor waive rent and mortgage payments for 2 months.  We have created an entitlement society and will only get worse as time goes on.  

@Gil Segev It wouldn't take a rocket scientist to see the difference between a $45K rehab and a $100K plus teardown.  I know some OOS buyers don't see their property before buying, not something I'd ever do. Seems like a common thread from a number of investors that post on BP about how they lost their shirt buying a property based on photos. I wonder how many people would still have their life savings had they visited a Clayton Morris house in person? 

@Max Sherman I'm guessing you didn't personally see the house before you bought it.