All Forum Posts by: Paul Tibok

Hello BP.  I am currently designing part of my marketing campaign for my wholesale business.  Actually I am creating a car magnet off Vistaprint.  I haven't heard of anyone actually doing this but I figured it could be a good way to generate calls.  My question is do people think I will have more luck with saying "SELL YOUR HOUSE FAST", "SELL YOUR HOUSE FAST FOR CASH", "WE BUY HOUSES", or if anyone has any suggestions it would be greatly appreciated.  I may be over thinking this but I have heard the slightest change in wording or appearance could be a game changer! Thanks BP

My real estate agent told me that there was a minimum of 5 years before the PMI can drop off of the FHA loan vs the 5% conventional where as it drops off automatically after the 20% equity, is this true? And if I chose to go USDA what would happen after that year or so when I decide to leave, I'm assuming I would definitely have to refinance because a USDA loan can only be used if the person is living at the residence, correct?

Hello BP, new investor here about to put my first investment property under contract! I am owner occupying a duplex and my lender just informed me that I can use a USDA loan because of the county I will be purchasing in. I have the funds to go 5% conventional, FHA, or USDA so I have my choice here. I only plan on living at the property for a year or two. Any advice or opinions would be greatly appreciated, I am a newbie!

Thanks guys, this is a bit off topic but anyone still paying attention to this post knows the scenario already. My mortgage gal just informed me that I can go USDA. I am owner occupying one side so I have the option to go FHA, 5% Conventional, or USDA. Any opinions?

Thank you everyone for your feedback, very helpful it took a big weight off my shoulders.  Can anyone reply as to what exactly the contingencies or clause should state to me before I submit this offer?  This is my first property so I just want to triple check before I sign anything! Thank you in advance 

The only pictures available are from the vacant side. I can understand the seller wanting me to make an offer before I view the other side, but she wants us to agree on a price not just make an offer. I just don't see how this would be a smart business decision and especially for a first time investor like myself. It is true the both sides are identical but it could be a train wreck in there.

Well the thing is while I was looking at the property the tenant came outside and we talked to him. The house is on the market for rent and for sale. You are right he was not aware, but he is now because my agent and I told him. My agent asked if we could look at his side and he declined which I could understand but now it is 3 days later and still the seller will not agree to let me in.

Hello BP, new investor here attempting to buy my first investment property.  I have recently looked at half of a duplex (vacant) to owner occupy with my agent and everything seems great except the seller will not allow me to see the other half unless I make an offer and we agree on a price.  There is a tenant in the other side right now and she claims that she does not want to disturb the tenant and only wants serious buyers.  Does this make sense to anyone because it seems absurd to me.  I am not an investor living in another part of the county for example and everyone is well aware of this.  I really like the property and the numbers work for me.  Does anyone have advice? My gut tells me to move on but I really like the place. 

Thanks Charlie great answer.

I am living in the south Florida area and looking to buy a duplex to owner occupy. I am very active in my search checking various sources daily so I am usually one of the first people to actually be on site and look at the property. There are usually a long list of investors, agents, owners occupiers like me looking the same day and these properties get sold very quickly (within days). The market is hot down here at this time. An idea came across my head that if I was able to get a property under my own contract which would have an assignee's disclaimer using my pre approval letter for and FHA or conventional loan to get in, is it feasible or even legal to flip or wholesale that contract for a profit? Any advice be much appreciated!