All Forum Posts by: Stephen Meyers

Well thank you for replying. This is exciting. I love BP! 

I'm in the hiram Dallas area. I put the zip in the post. Is that to far? 

I'm about to purchase my first home and I need a licensed contractor for a rehab. It will be a 203k loan so any contractors who have experience please contact me. Thanks BP 

I'm doing the 203k so I can rehab without any money up front. I'm wanting to take my profit and reinvest. 

I'm doing a 203k loan. I've personally seen the house and it definitely needs a rehab. I'm wanting to flip it. I've got to live there for 2 yrs to avoid capital gains tax when selling. I'm wanting to use that time to educate myself and create a team/contacts. Idk why they've raised the price. But I know that it'll definitely need a good bit of rehab. Probably 10k or 15k. It's 3bed 2 bath 2080 Sq ft. On 1.15 acre with a nice pool. I'm needing help with how to accurately evaluate my comps and learn about my local market place. The Paulding County ga area is blowing up due to atl coming this way. 

So I'm really interested in this house. I'm going to look at the home later this week with my realtor and contactor. They are asking 119k which is why overpriced. The house was built in 1959 and definitely needs a rehab. They wanted 95k for it in February. I'm going to offer 85k and start negotiations there. Please help me with this analysis process. I am trying to figure out all of my numbers. Any information I can provide let me know. Thanks BP 

Thanks @micheal Sato, this is definitely a learning experience for me. I'm exploring all of the options for trying to find a place. It's hard because I am having a hard time evaluating if its a good buy or not. 

Hey BP I'm new to this site and real estate. I want to become an investor. I'm looking for my 1st deal. I've gotten my Pre approval and looking to do a 203k. There's so much I need to learn. Like the market, how to find information about homes. The proper steps to see if my potential purchase will be profitable. I've got only a short time to do this because my lease is up in August. I want to invest. I'm tired of giving away my money and real estate is awesome! My goal is to do a 203k, find a house that has room for capital. Live in that home for 2 years to escape capital gains. During that 2 yr period I'll use that time to educate myself and find my contacts/team. I want to take my profit and reinvest in 2018. I know that's  not a 20 yr plan but I think it'll put me on the right track for success. I need to be under contract by the mid of June. I love BP btw. So much information. I've spent the last month listening to the videos on YouTube. I'm a cnc Machinist so I have a lot of time to listen and learn.