All Forum Posts by: Reggie Draper

OK, here is the deal.

I happend to get in early on a home that has JUST been forclosed in Texas. The people were supposed to be out last Saturday but they are still in there . I wish I would have known before now and shorted from the owners but something tells me it would have been hard to talk them into selling.

Like i said, the owners were just made to get out last Saturday. Does that mean the home is already forclosed!!?? What stage is it in? All I have is an address and I can get the owner's names. I have seen the house and it looks great.

What is the next quick step! I know if I wait too long this house is gonna move. I think i need to talk to the bank now but I'm not sure how to find out what i need!! I also am not sure the owners will talk. I tried at one time but it was during the night and they probably thought I was coming to take the house. Should I try to talk to them to get the inside information!!?

HElp!!

What to do!!?

I know someone has to something to add :violin:

Hey folks,

Im getting ready to get into real estate investing, but I need to get my personal home first. I just graduated last year and I think I need to go ahead and get my house.

Question: Are there really no "no money down" loans left? (without working creative deals)

What company would you'all suggest I go to to get the best rates? I dont qualify for UD loan, so I here that I need to go FHA.

What I am looking at now is about 5.8% with ~3% down. Does this sound pretty good, or is there a heck of a lot out there that I just dont know about that would save me some money.

Thanks folks, I'm new at this, so please feel free to fill me with information. :)

Thanks for your help everyone! I will be doing more research in the near future so I can start my business up soon.

I am extremely excited about the opportunity at hand, but I am trying to learn as much as I can before I leap into it.

Thanks all! I will let you know my progress on attaining a line of credit.

Anybody? :violin:

Hello All,

I am new to the forum and I am new to the real estate investment business. I have made a few contacts and I have talked to many people about my interest. It seems that the first thing I need to do is get a line of credit so that I can stop "window shopping".

I am 23 Y.O and I graduated from college last year. I only have a little bit of credit built up, but no negative factors on my credit other than not having it for too long.

From experience, who do you'all think would give me the best chance at getting a line of credit for my investments? I have been advised to try to get about $100,000 so that I will have enough money for purchasing/rehab/misc cost of the property. Do I have a good chance at getting that?

I have heard about Wells Fargo and and few local banks, but I dont want to apply for credit too many times, thus lowering my score, all to be denied. I know I may not succeed on the first try, but I would at least like to maximize my chances.

Thanks!