All Forum Posts by: David A.

J Scott you are one post away from 8 thousand...thanks for replying. I would be using it for proof of funds. If I put an all cash offer on a property and end up being short with cash, would I be able to change my mind and do a conventional instead? My credit as well as my wifes' is excellent but I am self employed and are relying on her income for our next house. Our dti is 48% and wells Fargo wanted it under 40 to get a conventional. I know that the fees are 3% per transaction but don't know what this means. Would the fee be 3% of 10k? I may just go conventional because I would still need 10-15k for my rehab.

Twice a month I have been getting checks from Chase and Discover offering $10k, $12k at 0% interest for 12 months. I usually shred them on the spot but was wondering if I can deposit them in my account in order to show proof of funds when making an offer. $20k extra plus some money I have been saving to start my business would help me start making all cash offers. My goal is to buy my second property from a motivated seller or off the mls.

Mark, I am trying to better understand how to use these convenience checks. I get them 2-3 times a month from discover for 10k and 12k no interest for 12 months. Would i be able to deposit these into my account to use as proof of funds. I have some funds set aside and an extra 20k could put me into the game to offer cash for some fixer uppers around my area.

I just had a lenghty but informative conversation with my agent and he assures me that Farmers is only one of the few insurers avoiding raising premiums. It seems that the agent that wrote my policy could have better protected me for less than a dollar per month! My agent told me that I could add "replacement cost" for $10 a year and be better covered. Thanks Josh I will call progressive to get a quote and call at least 3 others. Chris thanks I will be waiting for the names...

Hello everyone!I hope all are doing great in your investments! My son turns 2 months old today and hes such a blessing we are going to celebrate later tonight when his mommy gets back from work:). I just logged in to my wellsfargo to view my rental property escrow activity and my insurance has gone up from $800 last year to $950! I am not too familiar with insurance companies and have had trouble with them messing things up "not sending a refund and cancelling my policy after sending them a written cancellation". I just called Farmers Insurance and asked them why such a big increase. From what the rep told me, Texas has been one of the states affected because of the weather and all rates are going up across the state.
Can someone recommend a good insurance company that can protect me as a landlord for a good yearly premium and also let me know which coverages you use in your rentals. Thanks in advance

I know this is old but it is grinding my gears and it infuriates me.To assume that all illegal immigrants live in bad neighborhoods and will kill you is a pretty narrow way of thinking. I mean comparing this group of people with gangsters and pit bulls come on!

Hi Brandon in my opinion you should start with a property in the 70k range and make sure you are getting a deal and make sure you get great cash flow. Since this is your first I wouldn't jump into a SFH house in the 100's.

Oh btw I set my dvr to record Buying and Selling tonight! Can't wait. They will be helping a couple remodel their existing house to sell before moving.

I really think parts of this show are real, unlike the others out there. Flipmen I think I watched it one time and turned it off, seemed so fake. House Hunters International is also my favorite but you can tell its also faked.
Sorin and Shanequa you are exactly right I felt the same way, last nights episode when that agent named Egypt told the buyers to make their offer but not to lowball pretty much because it would be their last chance. Things turned awkward with the agent and you could tell she was mad lol because the buyers stuck with their offer. Another thing is that when these first time buyers are approved for their FHA with a budget of xx dollars, they want to get a house for the amount their approved for. Not a good idea IMHO. I mean why would a single first time home buyer teacher want a two story 4 thousand sq foot home for himself?? I see it all the time even with my friends working at banks and getting into these expensive houses. I think you have to be smart specially if its your first time buying a property. Plus with this market and all of the REOS, why wouldn't someone want to buy a fixer upper and fix the simple cosmetics of the house.

I am watching Property Virgins on the HGtV channel and I'm a amazed by how affordable these huge houses in Atlanta are. I enjoy this show because you get a good perspective of what kind of property a retail buyer wants. I can't wait to get my hands dirty "or let my contractors" rehab my future investment properties.