All Forum Posts by: Tiffany Plovie

Fyi... The whole point of my post is that if there s a will there is a way... At least to come up with some extra money for earnest money.

@Christopher Thomas I agree with the other posters. You have been given some sound advice for free! Now comes the hard knocks...

I agree with @Aaron Mazzrillo , and unfortunately I came from the school of hard knocks. So you may not like what you are about to read...

 I remember the day that I clearly decided I would never be poor again.

I was sitting outside of an Exxon gas station with $10 to my name (at least until my paycheck came through... Which was two days away), and I realized I could either eat or buy gas to get to school and work, but that I didn't have money for both. Even the bus was too expensive. I sat in my car for 20mins deciding what to do, my stomach was growling and I was afraid to turn on the car because I was that low on gas...

 Ultimately, I went with what would make me money: my education and work. That same day, after eating a snagged apple from a friend's lunch tray and a sample piece of bread from the bakery next to my university, I headed over to the computer lab and put an ad on Craigslist to become a house-sitter/pet sitter. Then I started cleaning houses for the people I was working for as well. I also worked a full-time job, while putting myself through college on grants and scholarships. Every single moment of my life was spent studying or working. To save even more money, I ate ramen noodles because they were 10/$1. Every now and then, I would splurge on eggs for protein.

Within a year, I was one of the 'richest' students in my class (excluding those who were given money for simply breathing). In two years, I was hiring other people to the work for me.

My goal was, and always has been, to make money even when I am sleeping.

No guru, no book, can replace the fire in your gut. If you decide that you never want to be down to your last $20 again, it will never happen. And even if someone tries to push you over, you will get right back up, because ultimately the power to change your financial future is in your hands. And you will know this.

My Final Tip:

Find your big WHY... The reason you are willing to work so hard for so little (and in the beginning that was/is all of us), and it won't be money. Maybe it is to put your kids through school... To be able to retire... To be able to care for your parents as they get older...

Whatever that WHY is, never lose sight of it, and you will do okay.

@Rhondalyn Alston Welcome to BP!

You are in the right place... We have quite a few active members in the Ohio market. I would read their posts, gain some clarity about what you desire and try to find someone who doesn't mind doing seller-financing.

Just my .02!

@Francisco Perez Welcome to BP!

    You might want to try posting your question in one of the forums to get more advice. While I think it is smart to learn about the areas you are looking in, there are definitely more efficient ways to find a good deal.

   First of all, it is always good clarify your starting point. Have you been pre-approved by a bank? Do you have extra-cash or a line of credit to fix any problems that may arise? Are you interested in flipping, buy-and-hold, wholesaling, duplexes, ect?

Next find your end goal. How much is enough? Do you want passive income? To build a business? Both?

It is the steps between these goals which will determine the steps you need to take to make your dreams a reality!

Hope to see you around the forums!

@Steve Wilmers 

Welcome to BP! Don't be afraid to ask questions or to jump into discussions. It sounds like you have had unique experiences within the real estate market. It is a whole new ballgame to work with developers and to fund their projects. I am sure you have a story or two!

I look forward to seeing you around the forums!

@Heath S. 

Welcome to BP! 

  Arizona has been a hot topic when it comes to the best states/cities to buy and hold in. Thoughts? I would love to hear your prospective as someone who has been both a mortgage broker and a licensed real estate agent... And an investor as well.

I would love to hear what you think, and if there are better places to invest than others.

@Andrew Herrig

 Let me get this straight, you knew that the foundation was leaking, you knew that there was moisture seeping through the walls and you knew that there was a chance of flooding. You also knew, per the contractor, that nothing had been done to fix it upon original notice from the tenants- and then you let it happen again.

   It is your job to keep to keep you properties habitable, not your tenants'. Regardless of whether or not the tenant set up a time for the contractor to come visit the property is not the issue. It is, at the end of the day, your duty to ensure that your properties are safe to inhabit. You failed to do so. The last time I checked, landlords in any state can give notice to enter into a tenant's residence as long as 'proper notice' is given as per state guidelines.

   Their son now has a bad sinus infection and they are seeking remedies. The money they are asking for IS NOT their deposit, instead what they are seeking is a settlement in order to not pursue legal action against you for negligence (which resulted in their son's illness) . They may not have said it have said it in so many words, but the implication is there.  The amount they are seeking just happens to be the same as the deposit they originally forfeited.

I would not having any further contact with them directly. Instead, I would have my attorney draw up a contract that would exclude them from seeking further damages against you and seeking any other liability. I would give them their deposit back and be relieved that you already have a new tenant in place.

@Mitch Robins Anytime!

If you are serious about flipping, talk to a mortgage broker to get some clarity about where you stand. Next, decide your end goal, which will help you decide with houses are worth the trouble! ;)

Let us know how the viewing goes!

@John Heck   I am not sure. I do know that it would still not be considered 'stick built on lot'. I would give your mortgage broker a call and ask them how they would feel about lending on that kind of property.

   If nothing else, you will learn a lot simply from touring the property. Real estate is all about acquiring knowledge, getting your hands dirty and putting in a lot of hard work.

@John Heck  My initial gut feeling is that you can do better than this.

In my experience, rarely do copper vandals stop at a central AC unit. They will gut the entire property, and if they know what they are doing they don't even have to open up the walls in a conspicuous way. Go over every single inch of the home.

 I took a brief look at the comps in the area (again, notice the emphasis is on brief... I am not a PA expert), and the number looks a bit high.  Also, I believe it is harder to get financing for a mobile home.