All Forum Posts by: Thomas Mehi

Looking to buy a HUD CWCOT home but don't have the cash on hand. How does one get a cash loan to buy a house. I imagine it would be some sort of high interest loan then refinance once able. Do Hard Money or Private lenders do this? In the North Carolina market

Going to have to find a Hard Money Lender until you have the equity to refinance into a lower interest loan.

I know where I am trying to buy a house though there is an agent that will tell "their" client the outside bids so that their client can win the better offer and be the dual agent. Don't like it, prove it.  Totally understand unethical but how do you change it and prove it.

@Brian Spies

Where do you get bond funds. The only bonds I know of are long term.

Where do you keep your money while saving 20 or30k for the next downpayment? Imagine it would have to be somewhere semi-liquid. I am thinking mutual funds? Other investments?

Looking to buy in Mississppi. Who do you use for property insurance. Is there someone who works well with investers?

In your experience what are the states that care about the property owner and are best to be Landlords in? I know to shy away from Ca, NY and NJ. I am currently looking in Tennessee North Carolina and possibly Alabama. Thoughts and experiences?

I was just recently introduced to BP and just in time too as I am selling a house I have owned for 13 yrs. It has been rented for the last 6yrs. I know because I am military I only have to of lived in it for 2 of the last 10 to avoid capital gains (done). I am pretty sure I have to pay recapture of 3.25% for each year over the last 6 ( unless some one know a way to avoid this?). I bought the house in California for 180k and I am looking to sell for 245k ( I had to rehab 27k due to tenant neglect :-( , and then just upgrades for another 15k to get some money out of it). Any tips or tricks from you guys to reduce tax burden, any thing I should prepare for (unforeseen taxes)? This is my first time selling a house so please assume I know bumpkiss. Thanks in advance.