All Forum Posts by: Sterling White

The bank accepted an offer on an REO condo in Chicago, but the inspector found a small patch of mold (probably the size of a fist) on the bathroom ceiling. I know 5-7 years ago the HOA paid to patch the roof because there were some leaks, but I don't know if this is related. The unit has been unoccupied for 2 years and the AC/heat was completely turned off.

I know I can remove the mold easily, but am concerned about future value and legal ramifications should the mold grow back. I'm planning on renting it out, and am wondering if it's worth the risk. What do you think?

MERRY CHRISTMAS BP COMMUNITY!

If you could go back in time, knowing what you know now, what would you do differently in regards to taking advantage of your real estate endeavors? 

Kind Regards,

Justin Peters

Real Estate Professional

Dallas/Fort Worth

Hello Bigger Pockets

My Wife and I (both 28 yo) are new to investment properties and would like to start by supplementing out income as well as prepare for retirement with buy and hold investments. I currently have my contractors license and work as a project manager for a local manufacturing company and she is a Professional Engineer for a local concrete testing company.

We plan on operating out of West Michigan, in the areas of Kalamazoo, Otsego, Plainwell, Allegan, Southern Grand Rapids, out to Holland and down the lake shore.

We are hoping to find some other local investors and professionals that wouldn't mind sharing their experiences in the area. We could also provide any skill trade or engineering advise that you may need to have a well rounded conversation. :)

Thanks for Looking

@Sterling WhiteYou are correct!  It has been a long day.  We are in agreement.

My misread.

Hope you have a great Holiday

Jeff

Season's Greetings to all in the BP Community!

My name is Constantine Kyriazopoulos, Jr and I am excited to be part of this thriving group of Entrepreneurs.

From the suburbs of Los Angeles originally I moved to Las Vegas with my young  family in 2010. My experience the past 20 years since moving back to the USA from Greece has been in Finance. Capital Raising, Mortgage Loans and Entity/Business Strategy and Structuring . 

Currently I am involved directly with a Pro Flipper here in LV that has a dozen successful deals completed this year. With an additional 8 deals in the works now.

We are looking for members to share their experiences in R.E. and  also any information on how we can help one another achieve our goals.

Feel free to reach out to me with any questions or opportunities you would like to discuss. 

All the best!!

Hi Everyone 

I am looking for some help if Florida up in Panama City area. I found a place and have a contract haven't sent back the Signed "Contract for sale and Purchase" because the lender I was going use told me today he doesn't lend in Panama City for some reason so now I have to find someone new. He had over a week to tell me this on the contract the agent put option (a) Buyer will pay cash at closing. I know since I haven't signed the contract and sent it back I could back out now but was hoping to find someone that could do this loan. Thanks for any input I could do standard loan just want to close faster.

Property

2 duplex's on the same property

Have agreed for 93,000

3 units pay 245.00 weekly 38,220 yearly

1 unit 750 a month  9,000 yearly

total 47,220 

taxes 1358.00 

I have to cover electric on 3 units the bills for the last 6 months have been under 350.00 every month.

I was going to close 8 Jan but need to see if I can get that pushed back now. 

would like to find a HML that would do 25-30% LTV

As I'm sure many investors in California can relate, I'm at a roadblock with wanting to buy property here because of the prices. For a few months I've just been trying to determine what I want to do in RE and I love cash flow. I want to buy rental property. But I've got a bit of analysis paralysis because of so many mixed opinions on investing here. I don't have much money and having to put 20% down won't be happening with the 400-500k prices I have in my town. I see dozens of people asking whether they should invest out of state and I see many different answers. With prices so high what would you recommend I do? I absolutely want to buy rentals. I'm not into the whole buy/flip. I really don't want to continue waiting much longer and I'd really love to dive into this already but at the moment I don't know what to do and I definitely won't let this stop me from investing. Just right now I've got an issue and need some help to sort out so I can begin. I did see many posts saying CA was a terrible place for cash flow.