All Forum Posts by: Greg B.

The book on rental property investing

AND

The book on managing rental properties

Both available on this site. I haven't read them myself but I've heard rave reviews.

I've read J Scott's flipping books and if they are as informative as his you should be in great shape moving forward.

It seems books being sold on this site aren't written like a lot of other books I've read. Books sold here are less fluff and more USABLE information.

Welcome and good luck

They say you must stay in the residence for a year BUT there isn't a restriction on selling it the day after close. Life changes sometimes but with that being said they may look at you as intentionally buying to flip which could (maybe) get you into trouble. Its about intention. If you want to go FHA to help start your investing career I recommend "house hacking" at least a duplex.

Your investing career hasn't started yet. Do not jeopardize it messing with the government. House hacking is on-the-job training so make the best of it

Good luck

sad to say but my parents would have to wait to get paid.

They would know going in that their money was given out of support for the child. They should understand the importance of good business relationships. They are family and if they loaned it to you it was more on a personal level and believe in time you will reimburse them.

Also your success is bigger and more important than the money they gave you.

Just my thoughts, hypothetically speaking

Does the tenant wish to be treated as a business?

Can you use commercial terms in a residential property? Single, double or triple net lease might make him change his mind. I'm not sure if you can have a commercial lease in a residential property so you might want to look into that.

Good luck

Congratulations!!! Can we get some details??? 

Sooner or later we will be going from close to close and never leaving the house!

I might know someone. I'll have to talk to him on Monday.

If you don't mind me asking, what are you doing living in Hawaii but investing in my neck of the woods? An since we're at it, what type of long distance investing are you into?

I'm pretty sure I found your property. There are houses that have sold up to 300,000 (Joshua, TX) but its pretty spread out down there. Zillow has it zestimated at $200k+ but looking hard enough and at a few very similar comps I'd give it maybe $130 to $140

But call a local realtor and get a few comps

Good luck

Only issue I have is it being listed 4 days ago and you're asking an agent to put an offer in on a property without proof of funds. If it was listed for a few months, maybe, but at the moment I feel there might not be much motivation from the seller after 4 days. I might be wrong, might be.

The seller may be testing the waters but since there is an agent involved it might be difficult for you to determine the motivation after only 4 days.

This still doesn't mean you can't try. Like someone said this might be to provoke an investor bidding war...where investors with cash will be king

Happy hunting