All Forum Posts by: Tony DeMario

I cannot find a lender that has experience with the equity portion of an assumption. Example: I'm assuming $250k and need an additional $100k to pay the seller. I want to take a HELOC from the new house of $100k to pay the seller the equity

Hi, I'm looking for a Real estate attorney that can help with assuming my friend's mortgage.  It is assumable and I have the paperwork from their lender.  I live in Cumming, GA and the house is in Dawsonville, GA.  
Thank you!

@William C. That's a great point, if the house is a great deal, then it will likely become a bidding war.  I don't need to be the first to bid on the house.  I've lost a couple houses now, but they were only accepting all cash offers so I couldn't have competed after all.  I think the best advice I received here is find the right realtor and set the expectations at the beginning.  It's not realistic for me to get my license for my first purchase, but perhaps in the future.

Thanks again for all the comments.

@William C. Like you said, they do not call me in a timely manner. In my opinion, they should contact me as soon as a home hits the market that meets my criteria.  Try to schedule a viewing for me. And that hasn't bee the case so far, I'm having to make the calls to them.  However, I've been in contact with a few people from BP so I'm hopeful for a better result. 

Thanks everyone

Great point @Ian Tudor, I'm also going to try to include investors on that list and see if I can possibly enter an agreement with them to buy their house when the flip is complete.

I'm looking for my first REI in the Forsyth County GA (Cumming, Dawsonville) area. I'm not having any luck with Realtors acting fast enough in order for me to have a chance in a hot sellers market. I'm fully approved through underwriting at $140k so my price point just adds to the speed at which I need to move. Should I...1. continue to look for Realtors until I find the right one, 2. should I look for wholesalers directly or 3. look for new listings myself and personally contact the listing agent?

Thanks for any advice!

Thanks @Ethan Atkinson, I'm familiar with USDA loans but was unaware that you can use it for new construction.

Thanks everyone, I've been listening to the podcast, started a beginners course on the YouTube channel ans set some alerts.

@Calene Lambert Thanks for the information! I noticed this trend of people wanting to buy the newer house even if they get less value for their money.  I'm limited with what I can afford so I'm going to try to find a single family that I can "fix up" and build some additional equity (looking at south Forsyth) or find a single family farther away but with an additional lot that I can sub divide (looking at north Forsyth).

Hello BP community!

A colleague of mine turned me on to BP a few weeks ago and I’ve been listening to the podcast ever since. I recently moved to Georgia after being in Brazil for 6 years. I am excited to take advantage of the financing and low interest rates in the US.

I will be using the GA Dream program (down payment assistance) or a USDA loan to begin my REI journey. I'm looking particularly in Forsyth County (Cumming or Dawsonville) because that's where my family lives and it's one of the fastest growing counties for good reason.

If there are no multi-families in my price range, do you think it's better to look for a single family that I can use a 203k to fix up (BRRRR) or look for a single family with land that I can possibly sub divide? I'm really looking to make a smart move with my first investment.

Thanks,