All Forum Posts by: Sheree Fullwood

Hi BP Family,

I have my hands on a potentially amazing deal & I'm trying to secure that I get paid. The best thing I think is to put the house under contract & flip the contract for my commission to ensure that I don't get left empty handed.

My question is: How do I properly do this without missing anything & forgetting any escape clauses.

Help BP family!

Thanks in advance!

Sheree

@Christine Wong this is a personal friend who lives in ATL & is losing their house in Brooklyn.

@Ron S. Very informative! Thank you!

@Shmuel Harris Interesting. Ill let you guys know what happens.

Thanks for getting back to me, @Todd Franklin

I wasn't sure if the owner had any options or if was to late to try to find an interested investor who would be willing to take this type of deal, if they could.

Hi BP Family,

Quick question!

So I may have a potential deal in the Brooklyn, NY area. The property is in foreclosure, but the home owner is still interested in trying to salvage whats left of their credit & not lose the property. I spoke to them & we were thinking of doing either an Owner Finance type of deal or "Subject To". Either way, this deal would involve the potential investor wanting to buy & hold.

My question is, can this be done while the property is in foreclosure or only pre-foreclosure?

Hi @Howell Conant So a good starting point to get the ARV is to run some comps in the area of similar properties that have sold/listed in the last 3-6 months depending on how fast your market moves.

For example: If you're looking at a ranch style 3bd/2.5ba 1500 sqft built in 1950 listed for 160K that needs reno - find properties that are the same style of house, size (+/- sqft), bedrooms, baths etc., etc. that on on the market. Say they are selling for 210K, so based based on the 70% ARV you need to be all in (reno & purchase) 147K. You need to to figure out if that property is doable based on the scope of work required.

BP does have some really cool Deal Analyzing programs that you can play with to better help you find the best number.

Let me know if that helps a little?

Hi BP Family!

I'm in the early stages of looking for my 1st investment property which will more than likely be a duplex. I'm based in NYC & as much as I'd love to get into the game here, its just too expensive & quite frankly, the tenant laws here are too strict. That being said, I've began my search for the perfect property in either GA or FL, under 100K. Since I will not be owner occupying the unit, it leaves the option for an FHA loan out of the question.

I'm wondering if there are any lenders out there that lend on 100K or less? If so, Id love to speak with you to get the process started on getting Pre-Approved & know what my actual spending power is.

Looking forward to hearing back from you all!

Thanks,

Sheree

@Daniel Conti welcome to BP! Good luck on your endevors in the real estate investing world - however late you are! At least you started.

Welcom to BP @Patrick Carmichael ! Good luck on your journey.

Welcome to the BP family @Dorian Paidas!