All Forum Posts by: Jay Welker

Hello, I'm looking at a property that needs a lot of work. The power and water is not even on right now (REO) and it needs appliances. It may have termite damage. Is conventional financing an option? It's in a great neighborhood and the house is in decent shape, I'm just trying to figure out what will pass conventional appraisal.

Thanks!

Here's another question.

The property I'm looking at says "Seller considers conventional financing." I understand that to mean a conforming loan. Does anyone know if they (hubzu or the seller) would take a 203k? The property needs a lot of work and I'm concerned about the conventional loan appraisal. I imagine the seller wouldn't care as long as they get paid.

Okay, I'm looking at this thread because a property is on Hubzu that I like. Is the general consensus that unless the reserve is met they will just re-list the property? Will the seller ultimately lower the reserve or just put the property on the MLS?

@Brandon C. I realize this post is a bit old but I've looked into this and it doesn't appear DE allows online courses. What I did find is that PA does and it seems that if you have your license in another state, you may be able to just take the DE specific portion (about 1/3 of the course). Now that seems needlessly complicated, but I was thinking of eventually looking more in PA. Not sure if it would be worth it right now though. I'm still new to all this.

Did you get your DE license?

Jay

@Derek B. - Welcome to the site! I'm new here myself and still digesting the tons of great content. Good luck!

Jay

@Laura Moore Thanks and good luck yourself!

@Dmitriy Fomichenko Thanks!

@J. Martin Thanks! I intend to do quite a lot of reading and asking questions on the site. I'm also planning on attending a REI meeting here.

@Paul Timmins Thanks for the tips! I will look into the HUDs, that's an interesting idea. Student housing - another good idea. What do you mean by control it without owning it?

Jay

Hi everyone!

My family and I just moved to Delaware and we're excited to be back in the Northeast. I've been learning a lot from the website and the podcasts. I'm even reading J. Scott's books. I'm excited about ramping up my real estate investing and need to fill in some knowledge gaps to get there.

We're renting out two previous residences. That's about it for my experience. I'm interested in making the most of the market. Ultimately I'm a buy and hold guy but I'm also interested in flipping and possibly wholesaling depending on market opportunities.

Thanks to everyone who creates the content that makes this site great! I'm excited to get started!

Jay