All Forum Posts by: Ed L.

I doubt anything will change in the new few weeks or months. It would probably be a good time to lock things in for 30 years.

However,

Right now it's kind of like rolling dice.

Interest rates may sky rocket up to 15-20% and you will be glad you locked in

or

Homes prices may fall even more putting you upside down in a mortgage.

It's safe to say that we are all probably F'ed either way.

I have been reading up on Wholesale Strategies and I am wanting to know how to find Deals and what is working.

I'm a Realtor so I have full access to 2 MLS. This has been my most active source of deals, but there is always a tremendous amount of competition when buying good REO listings. The real deals always go over asking price.

From reading on the board it seems that the MLS is regarded as a novice source of deals.

What are some good ways to find reals deals before there is a tremendous amount of competition???

I would be glad to work with a wholesaler in the area, but I don't know of any. There are people who claim to be selling deals but most are selling retail BS.

I'm basically asking how to find deals like a wholesaler. Most people asking wholesale questions are focused on finding buyers. That's not a issue for me.

I'm just wanting to know what is working for you guys and gals.

I'm right up the rode in Hattiesburg... My highschool prom was at the Hancock Bank in GP lol...

Last name is Vines btw... Was concerned about using last name on the forum and receiving a bunch of junk offers.

Do you know the guys over at Regional Realty in the Kiln? Mr. Frierson is a good friend and mentor... I think that whole crew has decided to ditch real estate for politics lol..

Nope it's unsecured.

I pulled out 10K last month to pay for renovations on my rental house and make a interest payment on a flip I'm working and the total payment due was $10.xx .

I plan to use either my rental property or a piece of raw land I have paid for as collateral to bring it up to about 100K.

At that point I could really start buying REO with cash.. Renovate, Rent, & Refi... That's my plan anyhow.

That was my thoughts. By paying the bill I would be taking responsobility for the incident and probably setting myself up for future claims.

The Indemnification Clause states that I'm not liable for any type of injuries or damages.

I told her that she might want to see if the guy working on the roof would pay, but I also informed her that he is always broke and probably wouldn't.

It's called the hazard of living.

Jackie,
If you don't plan to use bank financing then why would one be concerned about a credit score???

I like your concept as a backup plan for if/when I ever do go bankrupt.

Until then I will use the cheap money offered by my local banks.

I just got my first bill on my LOC today. I borrowed 10,000 against it last month to perform some renovations and pay a interest payment on a property that is set to close this month.

Total payment due was $10.xx...

I think there has to be a certain amount of risk involved with any type of investing.

I've got a ruger lcp that I can throw in my pocket during a uncomfortable encounter. It's tiny but will do the job if necessary.

Yea I felt kinda bad for them. There RE Agent should be fired.

Keep in mind that you will need to disclose any foundation repairs that have been made.

It will have a slight effect on the value of the property. Just make sure that whoever does the work is reputable and will give a good warranty to put your clients minds at ease.

I'm supposed to close on the property on the 15th. I had a dream last night that the foundation had shifted and ruined all the new wood floors (Profile Pic is of the living room).

Think I will be stopping by on my way home to check things out lol...

Title tells the tale. Tenant stepped on a roofing tack last night outside my rental that had just been remodeled.

She called and asked if my insurance might cover her medical expense ($160.00)

I talked to my insurance agent and he said it would be better to pay her myself than to make such a small claim... Duh..

I talked to my lawyer and he said the indemnification clause in my lease agreement should cover my arse.

Before I responded to my tenant I thought I would ask BP for some feedback.

I would post the indemnification clause but Zip Form.com won't allow copy and paste.

I'm in the process of selling a home that had a pretty bad foundation crack in the back corner of the house.

It cost 4,400 to have it professionally repaired. Luckily for me there was a couple who had the property under contract prior to me buying it. They paid for the work to be done before closing and were then denied the loan at the last minute.