All Forum Posts by: Ray O'Brien

Hi,

Newbie here.

I was told by a Realtor that in order to view a foreclosed property i had to be prequalified.  Is this true?  The property is in Wisconsin and i live in MN.  Any input would be appreciated. 

Thanks @Jack Butala.  Yes so much to look at and study.  Sorry @Ayodeji Kuponiyi an @David Dachtera I just learned how to do a mention.

Thank you  @David Dachtara and @Ayodeji Kuponiyi.  I am looking for Private Partners and reading all i can, also watching Webinars and watching podcasts. 

Working full time so I am not spending as much time as I'd like on Real Estate.  

Ayodeji Kuponiyi

Thinking about my first purchase.  Like a lot of us i have limited funds.  This will only make sense as a buy and hold property.  The thing that is good about it for me is the loan the owner has is assumable.  My Credit is pretty good but i filed bankruptcy in 2010 so not sure a bank would give me a loan.  

I only have ballpark numbers so far.  The property is a 3BR 1BATH that rents for 1000/month, taxes 200/mo, ins estimate 75/mo, pymt about 400 - 425.  If i can get some positive cash flow out of it i am thinking this would get me started.  oh, purchase price is about 80k, and comparables avg about 100k.  It is currently rented and the tenant has been there a while, so i would be putting any money into repairs or maintenance right away.  The owner lives out of town and is ready to let it go.  Wish me luck, and any input at all would be appreciated. Property is in Superior WI.  Thank you,

Hello,

I am a new member and am building my team.  Can anyone suggest a Real Estate accountant and/or attorney In the Duluth, MN and Superior WI area?

Thank you!

I have owned rental property in the past. From about 1987 - 1995 owned a duplex and a tri-plex in Superior, WI.

I and a partner then made the mistake of buying a restaurant. We owned Mariners Landing in the Mariner Mall in Superior from 1988 - 1997. For the first few years it went well, then after Wal Mart built a few miles away the mall started emptying out.  I currently work full time at United Healthcare and have for about 6 and a half years.

I have a BS in Accounting and Bus Admin. I realized at the time of ownership that real estate was a good investment and want to start again. ii and my wife do not have a lot saved for retirement in order to do the things we will want to do. I was thinking in order to build up some cash I would wholesale until I can flip and then purchase to keep and rent out.