All Forum Posts by: Vincent Lewis

That looks great David and a full list offer on day 2?!!! Can we say Cinderella story.  Great job.

I've never seen that but it's definitely HILARIOUS.

The upside to the purchases is that the warranties on both vehicles cover ALL OF THE MAINTENANCE down to bulbs and wiper blades all I have to do is gas em and go 

I'm all about no car payments but the women in my world won this round albeit temporarily.  2014 Magenta Camaro (wife's car) & 2014 Mustang (mine until my daughter finishes college in May) then she gets the car and the note that goes with it.  In return for the down payment I put on the Mustang I get my daughter's 2005 PT Cruiser with NO PAYMENT.  No brainer in my book.  LOL

A certified HUD counselor? I'll definitely tell her about that. Never knew that was an option. Thanks for the suggestion.

Welcome to BP Billy,

I'm new here like yourself and I want to share what someone left on my wall with you.

Hopefully you will find this info as helpful as I did

I refer to it as the Getting Started Guide:

"Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what sides of the city they like/dislike and why. Ask what they see them selling for and what expenses are by category. Ask for market occupancy and rents. Ask if they know anything coming up for sale.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book "

Good luck

@ Chris Bounds Thanks for responding I have the same mindset as you regarding friends, family & business.  I wasn't looking to take advantage of her situation as I put this same topic in the WI forums and was thinking, mostly hoping, someone there would reply but got nothing.  The thing is she just wants out from under it seeing that she moved to FL. 

I found out that a friend of mine is in pre-foreclosure. I think this may be a good opportunity but I'm totally unsure how to go about it. This would be my first endeavor in RE and it may be a serious stretch for a newbie but I'm willing to try if it makes sense and is feasible. She has a SFR in WI but moved to FL and I live in AZ. Being unfamiliar with the SUB 2 laws in WI regarding pre-foreclosure, which I think is the way I would want to go in this situation (but I could be wrong) I am seeking advice from anyone that may be able to offer some direction and insight. Initially I hadn't reached out to her on this topic because I don't want to get her hopes up and then be unable to follow through, but I spoke with her little bit ago and she seemed somewhat receptive to the idea. She's gathering the specifics for me so I don't know the numbers at this point. But I am trying to get some input from the more experienced before trying to proceed. Thoughts on this would be appreciated.

I just found out that a friend of mine is in pre-foreclosure. I think this may be a good opportunity but I'm totally unsure how to go about it. This would be my first endeavor in RE and it may be a serious stretch for a newbie but I'm willing to try if it makes sense and is feasible. She has a SFR in WI but moved to FL and I live in AZ. Being unfamiliar with the SUB 2 laws in WI regarding pre-foreclosure, which is the way I would want to go in this equation I am seeking advice from any one in that neck of the woods that may be able to offer some direction. I haven't reached out to her on it as of yet because I don't want to get her hopes up and then be unable to follow through, therefore I don't know the numbers at this point. Was also thinking of passing it over to someone in that area and just collect a finders fee on it. Thoughts on this would be appreciated.

Even though I'm a newbie I truly cannot believe that no one knows anything about this whole fiasco. Personally I believe Jose may have taken it upon himself or his own understanding as to the remodel, because somewhere on some piece of paper there has to be a description of some sort that actually IDENTIFIES WHAT HE PURCHASED. If he didn't bother to read it that's his fault. As for John find your out in this deal immediately. The easiest and cheapest way out may simply be to get with Jose, who if he didn't know then, now knows the truth of the situation regarding his dwelling and while his status is what it is, he still owes some money to someone and that person deserves to be rightfully compensated. Realistically John still has the opportunity to make some extra cash in this equation. Make Jose a REI and offer him a wholesale deal on owner finance for the other half of the duplex. Who knows in the future he may decide to divide it up and become a landlord.