All Forum Posts by: Thomas Gutierrez

@Todd Rasmussen appreciate the response I will look into it!

@Curt Smith hey thanks for responding I messaged you!

Ok guys I am needing some help on a deal. So my neighbor is 20k behind on Payement and have a total loan of 175k. House is worth about 230k how would I go about structuring this deal? Would it be a subject to deal? If so how would I go about doing paperwork and everything to make it legitimate

So I'm having trouble with getting a HELOC on a rental property I recently purchased. I have been approved to get one on Figure.com has anyone had any experience using them?

@Lynnette E. Thank you I really appreciate the fast response!

@Hai Loc hey thanks for the response! So I’m really just looking for a nice cash flowing property right now. There’s a lot of oilfield and construction work in the area so housing is really scarce here, so rent is going for about 1000-1200 for a house this size. I had a contractor go and look at the house so I’m feeling pretty confident in keeping repairs around 20K. So I’ve decided I’m going to go ahead with the deal I’m just a little confused on how the closing works? I was asked “what entity do you want on the contract?” And i have no clue as to what that means.

Hey everyone new to bigger pockets forums. I’m looking to purchase my first property, I have been in contact with a whole seller. So the deal is

Arv- 124K

Reno-20K

Carry and closing-9K

Buy price- 80K

He’s saying the least he’ll take is 72K. I’m thinking I’m going to hire a contractor and get it fixed then renting it out. I have the cash on hand just looking for maybe some advice on if I’m looking at a good deal. Thanks in advance for any help