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REO questions
I tried doing as much homework as possible before submitting an offer on an REO (through our realtor) which would normally be out of our price range.
Our starting offer was $86,000 below what they had it listed for....
Helen Kirk
Newbie trying to close on a townhouse w/conventional financing
Hi everyone,Working on my first property: I've put in an offer on a 4br 2 ba townhouse for $80K in an area where the townhomes like this one are going for $120K and up. It was accepted and I'm now to the point where...
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How Are Subject-To Sellers Able to Qualify for New Mortgages?
Hey BP, I am almost ready to present a Subject-To offer to a prospective seller and this question popped up in my mind: If the seller agrees to the deal and a couple years from now is able to buy a new property, how w...
Matt Camilliere
Penalty Free COVID Roth IRA Withdrawal? Need Private Money
Hi BP Community,Firstly - has anyone had any experience taking money out of their Roth IRA during COVID-19? I heard there's a 100k withdrawal allowance with no penalty and a 3 year grace period to replenish withdrawn ...
Lubasha White
Notes in REI
I am planning to attend live event this month with the subject study about Notes. Could anyone to share with experience on this kind of investing and give an idea how long time it may consume to get in the field an...
Stuart Samples
Hold or sell
I would like a few opinions on this
Current value $140,000
Rent $725 month/ $8,700 year
Taxes $1,600
Insurance $500
Lawn care $840
Vacancy $435
Maintenance $550
Total...
Steve Stanley
Ayone using Lowe's for a kitchen remodel?
Hello, I wanted to know whether you guys would work with Lowe's for a kitchen remodel or not.The advantage is I can use my Lowe's card to pay for it and will have 24 months no interest, which is the only reason I am c...
Brett Mather
Landlord wants to sell house I'm living in
My family moved to Scotts Vally, California in August of 2020 and rented a townhouse with a 12 month lease. The owner recently contacted me and expressed his desire to sell the house and offered it to me. If I choose ...
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Purchasing Occupied Units
Good morning BP,I've looked at quite a few duplexes recently. Some are already occupied by tenants. I realize this can be both a good and bad thing. How do you go about dealing with this? What kind of problems have yo...
Matt Jones
Pictures and Numbers from my first flip of a historic home.
As life goes I got busy and did not get a chance to post about the flip that I sold in April. This was definitely one of my more interesting projects as it was the largest rehab I had handled up to that point and the...