All Forum Posts by: Renee Yarbrough

@James Wise Thank you for the resource regarding Birmingham, AL neighborhoods. Excellent work! And I'm planning to listen to your podcast on BP.

@Matthew Lukas

I'm sorry you feel lost. As a newbie, I am completely surprised at the amount of encouragement and support given when I asked. Maybe you could start a new thread with details about your obstacles? People seem really willing to help on BP.

@Alan Grobmeier

I can't tell if you are serious or trying to be funny!

@Jay Weathersby

Well, your post is encouraging...not because you lost out on three deals, but that you are back at it again. Kudos to you!

@Brett Mason

I didn't thoroughly qualify my lending amount.

The seller was required to fix several high-ticket items in the house, and vendors were promised (by me and the seller) to be paid at close.

Closing was pushed out several times due to my continued efforts to 'make it work.'

In the end, we didn't close because of my DTI, and the process was strung out almost 2 months. Meanwhile, the seller was required to fix appraisal/inspector items and couldn't pay the vendors.

@Franklin Romine

What does it mean to 'fill up your pipeline?" Sorry to be ignorant, but I've not heard that phrase before.

@Josh Evans

Thanks for the encouragement, Josh! I see you are in Montgomery. I'm planning to look in Birmingham, where my son lives. Do you have any experience of the market there?

@Jerry N. 

Yes, so many posts on this thread have been encouraging and extremely helpful! I've learned a lot for the journey forward, which is wonderful.

You are right, the FHA-required repairs improved the house, and the seller won't have the inspection/appraisal issues it had before, so has lost nothing.

The vendors, however, agreed to do the work and get paid at closing, which bothers me...as that could now be months down the road. 

Technically, it isn't my responsibility, but I feel bad that the sale dragged on a long time, repairs were made with promise of payment, and then it came to nothing.

After reading all the posts, it is very clear that my situation is a bit of humble pie and some out-of-pocket expenses. At the time, it was dreadful, but with a bit of perspective from people like you, I see very clearly that this first try was just that...a first try.

There will be many more in the future.

@Bryan R. Crnkovic

From reading the posts on this thread, it appears I escaped with a bruised ego and a fabulous education. Armed with new information, new courage, and my money intact, I'm back in the saddle. Thanks for the encouragement.

@James Mcgowan

Thanks for the encouragement!

Do you have recommendations for learning about financing/lending? Many people on this thread have commented on creative financing, and I'd like to education myself. Maybe a Creative Financing for Dummies book?