All Forum Posts by: Rose C

I agree with Jennifer, we are conditioned to protect our personal information. If everything else is okay, I'd contact them and ask why they didn't include the requested information. It could be as simple as they wanted to know you are serious about their application before providing it.

Elisha,

I'll be interested to know what your experience is like getting a mortgage with them so I hope you'll keep us posted along the way. I often work with first time buyers and it would be nice to have a good resource to refer them to.

Hi Elisha,

I used NACA to obtain a loan modification on my primary residence. While there are many HUD approved counselors out there and some may do a better job, I don't think my modification would have been approved if I had not used NACA. They have a lot of clout with the banks. they could have done a better job on structuring the modification as my payment actually went up, not down, but there were a lot of unusual circumstances, too may to go into here.

With NACA, you rarely get the same counselor twice. Some are better than others. Some had bad attitudes and probably should have been working for the bank, not the HUD Counseling service. When they have one of their big Home Saving Events, it's difficult to get a phone appointment. They will guide you, but you have to do pretty much all the work.

Overall I would recommend them, but buyer beware. Make sure you do your homework and understand everything they are recommending and you'll be fine. Again, their strength is in their clout with the banks.

Rose Clime

Thanks for the warm welcome. Jeff & Benjamin, I've visited a couple of REI groups and find the support and knowledge awesome and am looking forward to taking a 3-day seminar coming up in a couple of weeks so I can learn what I don't know that I don't know. Jeff, I'll definitely check out Gene Trowbridge for the SEC part of things, thanks for the tip. Mehran, Pod Cast #25 has been the first one on my list for a week or so, but am trying to figure out how to load it into iTunes (technology is another learning curve ;-). Thanks everyone for sharing your wealth of knowledge. I stumbled on BP several months ago, but just wasn't ready yet.

Rose

When my buyers are interested in a rehabbed property, I always ask them what they think that new paint and carpet are covering up. Most first time buyers have a hard time seeing past that new paint and carpet and new appliances and don't want to know about potential underlying problems. Fortunately I have excellent inspectors that protect my buyers and although a property inspection is not mandatory in CA, I always strongly recommend it.

I've been reading a lot on BP and decided it's time to introduce myself. My name is Rose Clime and I've been a Realtor for over 10 years in South Orange County, CA and have decided it's time to realign my real estate business and do some investing myself. I previously worked for a REIT, but it was so big, I really only learned about managing shopping centers. As I'm sure you all know, selling real estate is a different animal than investing in real estate and I've already learned a lot thanks to BP, but I have so much more to learn. I'm very interested in flipping houses, but South Orange County is saturated with investors and it's tough to find any deals in the under $500k price range. Under $100k is next to impossible. I'm also interested in multi-family (living in one unit and renting out the rest, for a start). I'd like to learn what to look for in an area out of state that is more affordable than Southern CA. I'd also like to learn how to leverage OPM. The end goal is to have a portfolio that will support me with passive income in the next 10 years. The short term goal is to figure out where to start so any advice will be appreciated. Looking forward to getting to know you and getting my feet wet.

Hi Anjanee,

I'm new here too, but have been a Realtor for over 10 years. I would ask your Realtor for a market analysis showing what the comparables sell for. S/he should provide this at no charge and with no obligation to list the home with them. I would also ask what their commission is and get an estimate of any other costs involved with selling the house (escrow, title fees, transfer fees, etc.). You'll also want your contractor to give you solid bids for any repairs needed. Then I would post it here in the Marketplace forum and see if other investors are interested in buying it. The price an investor will pay will be lower than at Retail, they will deduct the amount of repairs, and you'll still have costs like title, escrow, etc. But then you'll be able to compare the two likely outcomes, and the amount of work you'll personally have to do to sell the house.

Good luck with it!

Rose