All Forum Posts by: Account Closed

Hi members, looking for advise on a potential purchase. Here is my scenario: A seller has a 3 bedroom 2 bath condo in New Brunswick NJ that has a retail value of $150k but is willing to sell for $100k all cash. She is will to take $50k now and the balance in 6 months. My plan was to pay now with 0% interest rate credit cards and then do a cash out refi in 6 months. Is there a bank that will do this deal? My credit is good but my cash on hand is small. There is a tenant in place and the unit rents for $1550 per month. Renter pays all utilities. It is a condo with HOA fees of $286, taxes of $4200/yr. Please advise. My other strategy would simply be to wholesale the deal but I would prefer to keep this one if I can get it financed at 80% LTV in 6 months

quite informative. Love bigger pocket. This is a wonderful forum for investors. Thank you all. I am now more equipt to respond to her.

Thank you for the info. Quite informative. The month to month happened because because the original lease ended and we just continued on a monthly bases because she talked about moving.  She gave me notice on the 13th of the previous month

I have a tenant in Delaware who is requesting her security deposit at the time of her final walk through. What is the normal protocol for returning security deposits? Secondly, she paid for the month of May in full and the month to month lease ended on the 20th of May, is the rent prorated and is she required to receive prorated rent/the return of the excess payment. Lastly, she needs more time to clean the unit and get the rest of her belongings out, what is my obligation to her and should there be a charge for the extra days she needs to turn over the unit?

Hey guys I am using this agency to get me 0% interest from credit cards. I am able to use the checks they sent to me for some transfers but others need to be circumvented to get the balance transfers at the 0% they offer. Does anyone know how to do this? I am using the funds for a flip I have already secured

Thanks for the info guys. I am new at this and even though I am comfortable with the analyzer, I like the idea of providing more than one option to the seller which means that I have to become more familiar with structuring different kinds of deals so that I have a better chance of walking away with a signed offer. This also helps to maximize my marketing dollars. If anyone know of resources I can look into for creative financing I would like to hear about them. Thanks

I have a single family 3 bedroom 1.5 bath home with 1508sqft and taxes of about $5500. The house was built in 1958 with original electric, 2 prong receptacles throughout the house, no A/C unit, original plumbing (copper and cast iron), original bathrooms and original kitchen. The ARV on the house is $230,000 and the seller is asking $210,000. The roof, boiler and water heaters are all new. I figure the house needs about $40,000 to bring up to date. The house is paid off but the owner/builder is in a nursing home. l am attempting to fix and flip but would like to offer more than one option for the seller. How should I structure this deal. Any ideas, please give suggestions. The kids are selling the house to help with the care which is running about $10,000 per month.