All Forum Posts by: Patricia Gemming

Thanks Upen. Is the property and rehab both under the 203k loan? It sounds like it would be two different loan streams. Does it only cover a percentage of the property and or rehab loan? 

I've seen a number of posts regarding a 203k loan. What is a 203k loan.

Thanks for all the information. We do have an attorney, but wanted to understand the process.

Patricia

Mike,

Thanks for stating everything so clearly. Great information.

Patricia

We have a co- op which we inherited when my father-in-law passed away. We have someone who wants to rent with an option to buy after one year. We were only asking for a security deposit and $1800./mo rent. Do we have to put any of the rent towards the buy? Does the person have to give us any money separately towards the buy when they sign a contract? thanks for your help.

Hi Jimmmy,

I also just joined Bigger Pockets so welcome. I live in Monroe which is about a half hour from you. I am new to investing as well. Lets keep in touch so we can learn together.

Patricia Gemming

My name is Patricia Gemming. My husband Richard and I are just beginning real estate investing, but don't have real estate experience. We are currently investing in tax liens and are interested in flipping houses. I am not currently working and my husband works in New York City. He is planning to retire in about 2 and a half years and while we have saved for retirement, we would like to add to the monies we will have available. We look forward to learning as much as we can about real estate investing.