All Forum Posts by: Solomon Morris

I would conduct THOROUGH review of a property you ( @Alan C ) recommended  as "turnkey" at the OP pricepint 40-70k. Probably not something I'd want for myself but rock on Alan

@P Marie Warren I haven't heard of a program like that before

Have you called any banks to let them know your plan?

@Albert Ellis How many lenders have you called? It's possible you may need to partner until you become "more qualified" as a borrower through a lender's eyes. Congrats on the LLC success

@Snehann Kapnadak study hard bro

@Julian R. Good luck with your foreclosure deal.  I imagine negotiating with banks can be a pain. To add to your point, I'm not seeing too much panic selling in my area either.  We will see what the future holds

@Nicholas Sheridan, Jr. Proud of you brother.  Speaks volumes of your ability to capitalize despite everything happening.  On to the next one!

Have you received estimates on what it would take to fix your mobile home?  You already own it free and clear? Making the necessary repairs with you and your wife moving in puts $800 back in your pocket monthly.  Afterwards, I'd start saving heavily to build reserves and another down payment.

From the information you've provided, those are the actions I'd take

Showings and maintenance activity can (and will) bring dirt into the unit.  @Aaron K. highlighted another instance where bathrooms are used.  Has the unit been getting a lot of attention with showings? 

@Daniel Suarez I have two section 8 tenants and have been pleased overall with the experience.  Screening is key.  I've had minor complications, mostly with one being unclean and causing some damage but hold them accountable as necessary.  After passing your inspections and getting set up with the housing office, payments come in like clockwork. I wouldn't hesitate with adding more section 8 to my portfolio.  Check out @Joseph Asamoah 's podcast on utilizing section 8.  He's also a prominent investor here in the DC area