All Forum Posts by: Sarah Williams

I'm curious. I've been looking in that area.

Darius, besides the money,  why wouldn't you be able to do rehab yourself? 

Is it possible to find maybe a duplex that is run down,  but functioning, and do rehab over time? True, you won't be collecting rent right away,  but it's better than nothing.

The reason I ask is because I'm sad that's not an option for me.  I want to invest in that area or near,  but I live across the county.  

Perhaps you could partner with someone who's good at renovation, and maybe they can rent the other unit oon the cheap or as part of your deal.  I dunno, maybe that's crazy,  but jusy throwing some ideas out there.

@Account Closed   Awesome!

I had a few of these names on my list, but there are several I didn't. You rock!

@George A. Thanks, I'll look them up :) 

@Manolo D. Maybe a dumb question, but is that the 50 for the total purchase price, or the loan amount. I've seen a few properties right at 50 K where the numbers worked. 

I think it's funny people are telling you to break up. Isn't that literally a no no as per Brandon Turner's book?

Anyway I'm curious what are these amenities she's looking for? Maybe we can help you craft a way to explain either why those aren't reasonable at this point, or something that might work as a compromise. 

One book / strategy that might help is "The Magnolia Story" by that house flipper couple Chip and Joanna Gaines. I bought it on audible as just a guilty pleasure thing because I think they are adorable - but it ended up also having a lot of cool business and real estate advice. If she is risk averse, she might see a lot of herself in Joanna (who then grows less and less risk averse as they grow their business). I dunno - it's like a love story meets real estate. I don't know how into that she might be. 

Oh, and the strategy version of that would be to get her hooked on those shows. She'll be excited about painting in no time. 

It's a hard thing to get right. Communication is key, but also you don't want to burn her out. I kept most of my REI excitement to myself at first, which actually upset my boyfriend and made him feel left out out of the loop. I was just trying to avoid overloading him until it came time to really move forward and make a decision.

All, 

I wanted to know if anyone has any recommendations or experience with local lenders who lend on smaller mortgage amounts (under 100K). I googled a list of some local banks and credit unions to call - but I figured I would check with you guys first before calling. I'm looking in the Northwest Indiana areas (South Bend, Michigan City,  and La Porte mostly). 

Thanks!

Hey Jason, 

I just shot you an email

@Jonna Weber @Brooke Spaulding - Thanks so much for the replies. I have been referred to a local lender through a realtor I've been talking to in my location. I haven't contacted him yet, but I was already feeling like working with "local" people would be better. 

I don't know the area super well, but went there for a weekend trip a little over a year ago. It was a cute little city, and it seemed pretty safe (I've lived in some nasty neighborhoods in Chicago, in comparison). 

Off topic, but If you end up there physically, and you're staying in a hotel, be sure to check out The "National house in" ... it's super old and neat. http://www.nationalhouseinn.com/history.htm