All Forum Posts by: Kenneth Littrell

@Jamie Greenberg I have nothing but great things to say about Colorado Springs, and there are enough x-Californians there to make you feel right at home! I in-boxed you some of my thoughts from my buying experience there. @Aaron Moore helped me a great deal and I have a house on contract there right now.

Best of luck and enjoy that trip there in March!

Wow, that's why I like the website. Thank you all of you for your referrals and assistance!

Hello. I am looking for a real estate agent in Colorado Springs. My wife and I are moving to the area and are looking for a house. We would like someone with a little experience in HUDs and other cost effective methods of purchasing homes.

@Tom Keith thanks for reaching out. Let me know what I can help you with. 

I am trying to sell the house for 120,000 with 8,000 down and 8.25% APR.

I picked it up for what she owes, 112,165. I am taking the house subject to the existing mortgage which has an APR of 5.25%.

I have my first contract!  Now I am trying to figure out the next step. I believe this would be a perfect subject to house, but I've been so focused on finding a house that I don't know what to do now that I have one.  I am marketing the house on Craigslist to sell on a wrap around mortgage. The problem is I don't know how to do the paperwork.  Can anyone help? 

Here are the details on the house. 

Comps 125k

Payoff 112

Repairs: 0 (move in ready)

Built 2010

3 bed 2 bath

Office

2 car garage

Nice yard with storage building

In a nice new neighborhood with new construction. I have photos but don't know how to add them.  

I am a new investor in Texas. I was recently approved to buy up to a four plex with my VA Home Loan. I have been looking at duplexes and have run into a big question. I can do a 0% down, 30 year mortgage at 3.75% and pick up any number of nicer duplexes that require no repairs. The only cash out of pocket for me will be closing costs.

The question. My father in law keeps suggesting I find something that cash flows on a 15 year mortgage but I cannot find anything at that price range here. Would it be a mistake to buy a property that only cash flows with a 30 year mortgage?

Thanks for all the information. I don't see the need for the trust as it is just a smoke screen that affords no real protection. I would like to do some sub2 with wrap around mortgages as my area is full of opportunities of that sort. The wholesale investors are picking at every carcus in town so I think I'll go niche!

@Bill Gulley thanks for the tip!

@Darrell Shepherd it does appear that most banks don't exercise their "due on sale" clause. The VA can be a pain for other issues so I wanted to see if they work well in the case of sub 2s.

Overall, thanks guys! I hate getting guru advise as it always feels like fish oil tactics. I want my business defined by integrity. That said, I also want the upper hans! Lol

I am working in a military towm. Does anyone have any real experience with doing SUB 2 with VA home loans? More specifically, can it be do