All Forum Posts by: Jonathan Newsome

Any advice on this is greatly appreciated, thanks y’all!

Hello BP, I'm hoping to get some advice on this property. What would you do? First off this property is currently in foreclosure status. So my first question would be - do people actually get foreclosed properties under contract and wholesale/wholetale off the MLS?

Ex: property listed for 75k, I offer the bank 55k they accept (through a realtor of course). If the property had an ARV of 180k and say 15k in repairs, would this be considered a deal IF there are no encumbrances or liens on the property, it was in an area/neighborhood that would follow the 1% rule and had positive cashflow after expenses?

I could really use some insight and advice on this BP, looking forward to hearing y’alls thoughts!

Promise I'm not spamming I can't figure out how to delete the last post I created. 

I'm looking at my first possible BRRRR deal! I'd really appreciate any guidance or feedback on what your ideas are on these numbers. Thank a lot BP!

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Disregard this post pls.

DELETE

Apologies, for some reason I can't delete

Man this is awesome and inspiring, currently searching for my first deal to Brrrr. I may have one on the agenda, just have to make sure partners are in it as well. Congrats on the deal and best of luck on your future deals!

@Derrick Lloyd

Hi Derrick, is there an update on the property?

@Mitch Messer  wow, I totally screwed that one up with a "fat finger". Its not 1 bath, sorry about that 3bd/2ba. I have no issues listing the address here. 22405 Ruckus Ln, Waynesville, MO. 

And as for the tenants, I believe from what I was told they are relocating. They are military (Fort Leonard Wood) and are PCS'ing to another location. 

Again, thanks for all the assistance you're providing on this, I truly value your input!

@Bill B. Hi there! Sorry about the confusion, I was referring to the Veteran Affairs Home Loan (VA). With that they are able to purchase a home with no money down and so that is what they did. That is why they have approximately 35-40% of equity in said property.