All Forum Posts by: Scott R.

Alright.. so I moved to Amarillo, Tx from Tucson, Az.. seemed like a smart move as real estate is much cheaper and I figuered I'd be able to get into some rental properties.. Now I'm here and I dont know what to do next.. Do I get a job and stay here for a year to build up job stability to be able to obtain the houses.. Everywhere I turn I get turned down.. Basically im 21 and seems like no one will loan to me.. Credit is ok.. high 600's last I checked.. no negatives on the report at all. I DO own one property (a rental which is a nightmare) so I have one mortgage on my credit report.. think i owe around $24,000. My problem is.. Im working as a server.. just started as i just moved here.. but they wont even allow me to claim tips on mortgage apps till ive been there for like 2 years and thats just not realistic for me.. dont know where to go from here!? Theres several properties I'd love to purchase.. some even from people on this board.. and im talking $35,000 properties nothing crazy.. Got some cash, can do the 10% down, just need the other 90%! There are some owner financing options.. but were talking like 13-15% interest..? Do I attemt that? just scares me a little.. so im stuck.. where do I go from here?
any suggestions!?
THANKS!
-Scott

Ok... so maybe i didnt do everything right.. bought my first house.. remodeled the house as if id want to live in it, its not in a nice area but the house itself was nice.. all new tile, carpet, bathroom, appliances.. so the renters dont pay.. finally get them out and its TRASHED.. floors are ALL completely trashed.. like more broken tiles then i thought possible, holes in the carpet, new front door is smashed up, holes everywhere.. house was completely repainted in december and looks like the paint was orignal from the 60s.. they rented it since january.. now there out.. what do i do!? Is it worth taking them to court? they couldnt pay rent, what are they going to be liable for? didnt even collect septembers rent..! what do i do!? I have before and after pictures.. but how do i prove anything!? and.. i happen to lose the lease, although it expired in june.. so now i dont even know what steps to take!?
Pisssssed off!
-Scott

Hey Everyone,
My names Scott.. just moved up to Amarillo, Tx here in the last few days hoping to persue dreams in real estate investment as its much cheaper than Arizona! Just been looking over these forums and found tons of useful information!
THANKS!
-Scott