Usually the payoff from lender will provide an itemization of HOA (if applicable), PITI, Attorney Fees, and all other fees that will drive up that debt.Is the title still in seller's name, if not, it will have to be reinstated in seller's name.This is but a fraction of what you will have to deal with when dealing with preforclosures.On the surface, it sounds promising, but there has to be more time, so the clock will have to be stopped by a TRO or Bankruptcy or even a possible contract from buyer.Could you pay what is in arrears and try and modify the loan?

I got the exam prep, which was, in my opinion a waste of money, so I would recommmend just the basic course hour material.

The basics will never change.

I would drive through different neighborhoods on my way to work compiling a list of distressed properties that I intended to try and track down the owners and while I was doing that someone contacted me with a house that they wanted to sell.The property needs roughly 15 - 20k in repairs but once done the property should have about 50k in equity.I am trying a mix between the house hack and the brrrr on this one.I am purchasing the property as a primary residence and will live in it as I make the repairs.

So the basic financials are $281,900 purchase price, $100,000 rehab cost, then when this is complete the income of the property would be $850 and no utility expenses.I am planning on using the BRRR strategy for this property.My wife and my personal finances is I have $14000 in savings, $600 in another account and I have a line of credit of $40,000 with and interest rate of 7.8%.I have not exactly officially offered this $281,900 but I want to but before that I want to hear any opinions and things I may not have thought of.

Was driving around looking for properties and came a cross a house that had fire damage the roof is pretty much gone.

Hey All,I have a basic question.

The book will give you a sense of the terminology and basic strategy.I was an economist at Fannie Mae before getting into commercial real estate.

I would rather my offer be turned down before I make the 3+ hr drive.

It is basically buying cash flow with your own money. 300K with a investment value of 10% is worth $2500/month .