All Forum Posts by: Rocky V.

I'm still sticking with SFRs and there are still deals to be found that generate 1%+.  Picked up these within the last 12 months.  They are out there you just have to keep on looking.

All in at $48K leased at $735.

All in at $100K leased at $1295

All in at $30K leased at $725

As a person who invests in MHs I'd say get your financing in line first. I have a private lender that finances mine from a self-directed IRA but have had no luck with traditional banks.

Yup!  I'll IM you but this is definitely a foundation, slab leak or both.

@Grant D. That doesn't look good for you.  Are doors sticking as well?  Any other issues coming up? 

Your going to have movement and small hairline cracks will appear from time to time.  I don't repair those cracks and notify tenants that it's normal where we live.  If structural engineer passed foundation then I would think you are clear.  The pipe bursting may have been due to a bad joint just failing over time.  Ceiling sagging may need additional supports in attic but may not be a supporting wall.  Pics would help.

This is a rental as long as everything is functioning as designed and poses no threats then leave it alone.

If cracks look like pic get a foundation company asap.

What I look for if it's not a cash buyer:  large option fee, 2nd option fee after 1st one expires is also helpful, min 30 day closing, EM is always refundable so I really don't care if it's $0, buyer to cover $x amount over appraisal (if appraisal comes in short this is very enticing).

I'm an active courthouse buyer and @Elizabeth Wilson is correct.  You don't need to contact an agent as they can not help you.  You may consider having a title company do a preliminary title search but that is costly.  A lot of homes will be pulled before auction and there is stiff competition in Arlington and Grand Prairie from hedge funds.  If your ready to pull the trigger.  I'd recommend flying in Sunday night, viewing all properties Monday and showing up with Cashier's Checks in hand Tuesday.  Best of Luck!

Pic is at a Tx Auction near DFW but not in Tarrant or Dallas County.

I think you're over thinking all of it.  It's quite easy just bring me a deal, assign the contract over to me and you get paid.  Pretty simple!!  If your concerned about the C buyer knowing how much you made, don't be.  I've paid out $20+K and my only concern is that my numbers work.

Will this be your first rental?  Do you have solid income?  Do you have a great credit score?  How long is the private funding for?  Need to build a solid relationship with a local bank that is investor friendly.  I would always advise that you have multiple exit strategies on any deal.  Numbers look like a home run but if you can not secure long term funding may consider wholesaling it.

Awesome @Clint S.!!  Glad you jumped in.  That's a great return.  I'd recommend building a solid relationship with a small local bank that offers portfolio loans.  Once I past 10 I had to look all over the place and build new relationships  with local banks.