All Forum Posts by: Dan Cotter

The best thing I've found is that some REO's have a 1st-look period for owner-occ buyers only, before the bank gives non-live-in investors a shot. Good luck & let me know how it goes!

@Brandon Turner I know you probably don't have time to reply to posts like this, but if anyone else comes to mind who could rock out this question, I'd be grateful for a tag!

RE: "Have you seen anyone buying properties with an FHA loan (203K or otherwise) at a big discount? So many of the "motivated seller" strategies rely on a quick cash closing to solve the seller's immediate need to sell, which is how they justify paying 50, 60, 70 cents on the dollar. I'm trying to picture what kind of motivated seller I could still creatively help, who wouldn't be deterred by an FHA financing contingency as I wade through all the red tape (especially my 1st time). I'm sure someone smarter than me must have already figured that out, so I thought I'd start asking around on the forums instead of beating my head against the wall."

@Mick Misra and @Devonte Dinkins how did it go? Have you gotten any traction with your house hunt or the 203K program?

@Darrell Hardy and @Michael Young have you seen anyone buying properties with an FHA loan (203K or otherwise) at a big discount? So many of the "motivated seller" strategies rely on a quick cash closing to solve the seller's immediate need to sell, which is how they justify paying 50, 60, 70 cents on the dollar. I'm trying to picture what kind of motivated seller I could still creatively help, who wouldn't be deterred by an FHA financing contingency as I wade through all the red tape (especially my 1st time). I'm sure someone smarter than me must have already figured that out, so I thought I'd start asking around on the forums instead of beating my head against the wall.

Heath - How did it go?

Sounds like a plan! Don't forget to budget for vacancy and CapEx.

@Tom Yung very helpful info, thanks. For anyone in GA, also see Tom's posts here (great summary of how tax deeds work in GA): 

http://www.biggerpockets.com/forums/70/topics/1116...

@Rick Baggenstoss helpful topic, thanks. I was batting around the idea of investing in a few small tax liens to raise capital for future real estate investments, but I've decided my time would be better spent doing other things.

http://www.biggerpockets.com/forums/21/topics/171726-investor-friendly-real-estate-agent-needed--georgia?highlight_post=1158066&page=1#p1158066

Azeez, thanks again for organizing, man. I'll try to make it.

Haha, nice, @Manesh Hardeo  . If your copper stays in the house for the price of a few cigarettes, that's pretty hard to beat. Is there an actual neighborhood watch group? It couldn't hurt to get on their radar. Can't wait to see what you do with the place.