All Forum Posts by: Ron Robin

having to go to the MAIN HOUSE to go to the bathroom at two in the morning in January might suck here in Louisiana, but in Montana it would be a deal breaker.

Another way to find numbers is Facebook. Add them and then go to thier info page alot of people have thier numbers on there.

As a new investor I would love to hear about the Bad and the ugly deals...

Thanks Ralph - I will have to get with the wife and discuss this option.
J Scott-Thanks.

Robert Dobbs---SHHHHHHHH. Dont post #12. We have been looking hard at that one for our next "Project". That one has been on the market for some time. Asking the realtor too look at that one as we speak. The SF on that one has to be wrong that house looks to be closer to 1500 sf.

Hey Dale
Let me explain a little more. This is only a small portion of the funds I have available. My exit strategy is to hold for a year (or if I find a willing buyer sooner), get good tenets and selling at a little below market value. During the year I plan on doing more projects. Because of my situation Im very cash rich but credit poor, and with no income, I will find it hard to get a loan or refi.

Closing in a few days and getting little nervous.
All cash deal, mainly looking for cash flow because I no longer can work a full time job for reasons I won't go into.

The house has a new roof (about 3 years old) and a new a/c and heater(3 years old) and will have a new hot water system. We will also be redoing the bath and floors in kitchen and living room.

Paying 50k and rehabing for 5k. 3br /1bath
Rents for about 950. taxes and insurance, and flood will run about 200 per month.

Two comps in the neighborhood, Asking 91k and 115k.
Only two rentals in the Neighborhood is a run down 2 br/1 bath double that they are asking 800$ and a Three 3br/1bath for 1000$

All that I was able to find were the permit back to 77'. Went to mortgage and conveyance office and pulled records. It sold in 1980 as a three bedroom. all the bedrooms have closets and and windows.

Closing on a REO on Tuesday. It is or was listed as a two bedroom/one bath for 56k, which is a good deal for the area it is in. Went look at the property and discoved it was a three bed one bath. That makes this a really good deal. They accepted 50k that made this and even better deal. All the Bedrooms have closets and windows. Wondering if anyone ever seen the bank and the listing agent make a mistake like this or maybe there is a reason it was not considered a three bedroom?

Well I did not do very good at honoring her request. My dad was looking into a property for me and thats what we talked about at dinner. Looks like it may be a good cash deal. More reseach tomorrow,