All Forum Posts by: Ray Fisher

Charlie, no money financing is a challenge, although not impossible. Our first rehab was mostly paint and a little sheetrock repairs. I found a painter friend that gave me all his 1/2 cans of paint and culls he had in his shop. we mixed it all in a big trash can , (FYI it comes out gray) he was happy to get rid of all the old stuff he had, we were happy to get the free paint. you can go to job sites of new builds and get some cull lumber , you can pick up some deals at the Habitat for humanity type stores. They may not be new but they are functional. Once it is rehabbed possible refinance with the equity's is an option for better interest rates. The first one is the Hardest. Remember don't fall in love with it. clean and functional, will rent. Funding sources I have used are , Credit Cards, Lines of credit on my home, borrowed from hard money (Family). Income tax refunds. taken my refund and bought certificate of deposits, and borrowed against them. (they can only charge me 2% more than they are paying me) . Also building credit with the bank! After you get a few under your belt, the portfolio lenders will begin talking to you. They have always liked that I have the W2 Job that pays my bills, and that I always say I am going to reinvest all gains into my properties, Each on of us find our way of investing, You have already done something I have never done. Bought an owner finance!! Congratulation's your on your way!! Now it's time for sweat Equity!! Don't be afraid to ask for help. if something comes up your not familiar with. you would be surprised who knows what.

Hi Jason, welcome to bigger pockets, what part of Arkansas do you live in? I started about 45 where your at, no money, good credit, kids and mortage, Today, I am 61 , I learned from one of the early gurus "No money down " REI. I am here to tell you it works, over 50 properties later, still buying no money down. have slowly bought over the last 16 years. now have lots of equity, no money, great credit, and a mortgage. kids moved and propagated.

Griffethville ar, mobile home  park, 4 mobile homes, 1 spot available, and land for 4 to 8 more. no utilities on them . 

your property, do what you feel comfortable with.

learn weed control, and mow 5 or 6 times a year, my lawn is 2.2 acres. mow 5 - 6  times a year, my 12 year old zero turn has about 230 hours on it.    

go to sec of state website and you can set it up for about $50 in Arkansas, I have 3 different entities set up . 

My education came from a lawsuit , $25,000 in legal fees and first thing I was told is we don't need to do anything with out an llc.

LLC worked for me, plus personal Asset Protections

sent you a message?

HI Marshal,

Hud home store is just one of many foreclosure sites, We started there many years ago, bought a lot early from there. Today cant find many that meet my criteria on there. Now everyone seems to use it , have to wait 15 days before investors buy and it has become a bidding war. I looking for a investment, not a reason for bankruptcy.

about every lender, mortage company, etc ..has a reo division, most of the deal are made before they ever reach the hud  reo market.

https://methlabcleanup.com/Meth-Lab-Cleanup-Standards.html

it is likely that properties used in meth production will more frequently be placed on the market for sale.

(copyed from website)

It looks like this is for a production facility,  I am no legal analyst. but if I thought the house was used in production, I would  just pass on to the next buy,  Now with that said. how do you know the history of any house I buy? usually its a empty foreclosure, been empty for three years , multiple cleanout, company's, rehabs, cover ups,