All Forum Posts by: Robert Jones

 I agree, but I live in Seattle and I am not yet ready for that kind of investment.  For the down payment I could Get a house in a different part of united states.  Which means I have to learn a bit more.  Since many people invest outside of where they live there most be a bit of a check list or how to without all the overwhelm.  I realize that picking the area might be a very large part of my success.  Thanks for the reply.

 Good Advice. Thanks!

I have a question.  I am trying to figure out how I can pick a location, or better a area inside a location.  I know that even two blocks away in some areas can be better or worse... With out flying to the area how do I find out if the location I am thinking about is worth investing?  

THNAKS!

Patrick, Yea that is what I thought.  They did not do that.  Thanks for the clarification.  

I jus went the rounds with a loan company that maybe I should not of.  They asked me for my tax return but never looked at the s corp where all my income is.  Told me that I could not get a loan because I lost money.  Well I did lose money on paper with the llc but if they would of looked further they would of seen income of over 200k that I paid taxes on.  This was just red flag number 3.  I have great credit.  I have income from investments, income form 2 business but not much in w2 income.  So, my simple question is for a recommendation for a company that works with investors and business owners and knows to look at all the tax returns not just one of them. Thanks!

 Thanks. I am learning here. I appreciate your help. 

Great info thanks. We thought 500k. But we are way new so we don’t know. 

Yea I know it would be a big first deal.  I just happened on it.  Most of the properties around the house are in the million dollar range.  The ones on the ridge anyway.  It will be a real big remodel.  All drywall gone.  But hey that is just drywall.  Anyway, I am pursuing it to learn.  I have a feeling that it will be gone in a couple of days.  The neighborhood is just to good.  Worst house on the best block.  Thank you.

Hello BiggerPockets community,

I'm relatively new to real estate investing and would like to seek some advice regarding a property I recently found. The house is listed for just under $600K, but it has significant damage due to broken pipes. The owner attempted to fix the issue but tore up the drywall and couldn't locate the source of the leak. The property is being sold "as-is" and for cash only.

I'm a bit unclear about what "cash only" means. Does it imply that I can't finance this purchase through a bank? What options do I have?

The property has an amazing view, and most houses in the area start at $800K and up. This purchase would involve a full rebuild down to the studs. While I have solid income and good credit, I'm uncertain if I'm too new to take advantage of this opportunity.

I'd greatly appreciate advice from experienced investors on how to approach this. What should be my next steps, and what factors should I consider before moving forward?

Thank you in advance for your insights!

Best regards,

Robert