All Forum Posts by: Account Closed

if I was you I would keep that 10k in the bank and just keep on adding to it. Someone will come along and say you can leverage that money into buying a million dollar property but to me, that is pie in the sky thinking. I see too many people here that think real estate can rescue them from bad jobs and financial pressures. They show up here with no money, no experience, responsibilities, and a dream. Some will succeed but the vast majority will not. Yes, there are HML out there and people say if the deal is good enough then the money will be there and that is true but great deals are tough to find for the newbie. Cash and credit make this business a hundred times easier. Build up a substantial cash reserve. At least one year's living expenses. THEN start saving for investment purposes. Work at least another two years at your job and save like a madman. How is your credit? Do you have any credit? Get your credit in stellar condition in the next two years. With a Fico of 740+ and 50k you will have a solid foundation to build on. You have age and ambition on your side and that is priceless. Some people might not like my advice and call me too conservative but dreamers always knock on the conservatives door when they need their *** bailed out. You are headed in the right direction, just slow down and make yourself strong.

If the father has a POA he can request a credit report. And that will show any mortgages and other loans as well as inquiries by banks for account openings. This isn't rocket science

If all else fails, call the property owner and tell them that their agent won't work with you. In the end it's the owner's signature you need, not the agent's.

Go to the courthouse and spend a few minutes. They have all the answers.

Absolutely!

I believe if I were you I would try to do the entire deal myself. Your potential partner is bringing very little to the partnership. 

Sometimes I think people just make things up for entertainment purposes.

Ultimately it's ALWAYS the price. If you have had a lot of traffic and positive feedback it's obvious your price is too high reguardless of what agents say. 

You need to be a little careful when it comes to requiring 700+ minimum Ficos. Many people don't realize the effect of a high balance on a credit card. A person with stellar credit that is very responsible could dip just below 700 if they were carrying a large balance on a card that had 0% interest for an introductory period. Some people are also good at "cleaning up" reports so the score may not tell the full story.

You will broke fast paying anyone $70 an hour to work on a mobile home.