All Forum Posts by: Onika Constant

Thank you for your response. : ) A real estate agent told my husband that he can do a short sale.

First of all I want to thank the BP community for all you do. I would have learned so much without you and I am sure that I will continue to learn more. My husband and I are considering selling our house on a short sale. What are the benefits and drawbacks to this? I know our credit can be affected but we are willing to risk it if it means getting up from under a townhouse that is underwater. My husband and I have lived in it for about 10 years and have never missed a payment. We also have very good credit. My financial situation is turning around so we are considering fixing it up to sell it. We live in the Montgomery County, Maryland.

We want this to be the first step to financial freedom and to begin making more sound real estate investments.

Thanks again.

Thanks so much for your reply. It was the first time I ever heard of it.

I was looking on an auction website and saw listing of an asset in a PUB. The listing warned about understanding the pros and cons living in a PUB. How is it different from a Condo Association? Not quite clear. I am quite familiar with Condos. At this point, living in one...lessons learned. Thanks for your time. 

Hi Joya, welcome! Nice to meet someone in my area. I work in Prince George's County. Learning all I can and working towards my first deal. Always good to meet people in my area.

Wow! Thanks for your quick responses. The roof is shingle. Plan to make a visit soon. 

Hi Everyone,

                      I live in the DC metro area where the price of houses are a bit steep. I have been looking at some properties in a college town over a 100 miles away from my home. The properties that I am looking at can be rented out to students. One in particular is a 2099sqft, four bedroom with two kitchens and two baths built in 1940. It is priced at $89,500 with a advertised rental income of $12000 a year. 

1.What the big ticket items in houses as old as these that I should look if for? 

2. How do you know if a house has "good bones"? 

3. Has anyone of our biggerpockets members ever owned college rentals? What are the rewards/risks.

Alot of questions but I would like to know what I ask a contractor about going in.

Thanks in advance for your response.