All Forum Posts by: Peter Philando

 This is probably the best advise you can get regarding Section 8. I honestly believe this is the main reason why you hear so many landlord with Section 8 nightmare tenants

Everytime is the best and worst time to get into real estate. 

I bought the Carlton Sheets course back when Jesus was a boy. I was living in NYC at the time and made some calls in the newspaper and followed up a bit. I didnt stick with it long enough. I have been investing in Montgomery AL for about 4 years now and have made huge strides by just being persistent. I was thinking the other day that I could have rolled through the Southeast like a hurricane with that course back then. I was scared, did not have enough belief in the process, etc. 

People are buying and selling real estate everyday, everywhere on the planet....the only thing changes is the PRICE! I plan to buy/sell/hold/flip/wholesale/Airbnb/whatever until I'm tired of it, good market or bad market. Don't ignore the changes in the market, just adjust to it. Always believe you can do it...very important. There is a time to research, a time to devour information, a time to ask all types of questions, AND there is a time to PULL THE TRIGGER. Once you do ..... oh boy, watch out.

No pets allowed

The best advice I believe

https://www.biggerpockets.com/...

Hey @Wyatt Pearson,

A HELOC is a great way of starting your real estate investing journey. you can use for the down payment or to buy a property outright, depending on the market you're investing in. I would suggest you do a search in forums on the term HELOC. You will get tons of information because there have been many threads on this subject and a wealth of information awaits you. Get used to searching the forums first for information because a lot of times these questions have been asked and answered countless of times. You will also be increasing your understanding of the subject and even getting a wider view of the RE investing landscape. You will still need to ask questions because that's the whole point of Biggerpockets, but your questions will be more specific because of your understanding and confidence. Here is a link to a thread to get started. The fact that you're here asking a question means that you're potentially a fews years removed from achieving your dreams. You got this! https://www.biggerpockets.com/...

@Marcus Hill

There is a ton of reasons why everyone does not want to tap into their equity as you described. 

1. Its not their business model, they are flipping properties at this moment
2. They don't want to own any property long-term with debt
3. They don't want to be landlords
4. Fearful of losing everything if the market takes a major downshift

I love the BRRRR strategy and I'm more in line with your thinking. The main takeaway is that there are a plethora of ways to be successful in real estate, which is the beauty of it. Figure out your strategy, plan a course of action, and go for it, evaluate, adjust if needed and keep moving forward. You have to find the way that fits your investment objectives, follow that path but also be open to new ideas.

Best Regards,

@Scott M. Thank you for your reply.

I am thinking the same way. I listed a property via flatfee.com and had a full-price offer with the buyer represented by said realtor. After agreeing that the buyer does not want to proceed with the purchase due to the inspection report which I had to keep asking just to get a definitive answer. The realtor said the buy is not interested anymore and hung up. I sent a text stating that we have a signed contract so send over a release/termination of the contract signed by the buyer so we can both move on. She stated that it is not necessary since the buyer is not proceeding due to the inspection report. She is an Assoc Broker, a professional, representing someone with less knowledge in this field. Where is the obligation to protect your client's best interest? flatfee.com is now requesting a copy of the release in order to change the status back to Active on the MLS. I sent an email explaining to the realtor explain the situation and requesting again for a signed release .... crickets. This is why I use flatfee.com

I wanted to get a professional opinion from the Realtors on this forum .....

A realtor is representing a buyer and has a signed contract to purchase a property. No EMD was delivered to the closing attorney as promised. Several calls/texts to inquire about EMD being delivered to the closing attorney as promised were not answered. Based on the inspection report, done within the proper inspection window, the buyer decided not to go forward with the purchase (which is fine). What would be your next steps so that you and your client can move on to other properties? Be specific. thanks

From my experience, lenders do not look at this unless getting a loan that includes a construction/rehab amount (draws). On a refinance, the lender will hire an appraiser to get the market value of the property. Appraisers are usually not concerned with whether permits are pulled or not. My answer would be no, that you will get denied for an unpermitted garage.