All Forum Posts by: Antonio Evans
Antonio Evans has started 4 posts and replied 36 times.
Post: Seller Finance QUESTIONS (I THINK)
- Brookhaven, MS
- Posts 38
- Votes 7
Originally posted by @Account Closed:
@Antonio Evans it sounds like they are running boarding houses. You fix up the bedrooms to tent out. Usually weekly and tenants share the 2 baths and a tv or reading room.
Yeah they share the kitchen and bathroom but have they own private room and have a weekly pay rate.
Post: This stuff is very hard for me (Investment Stories?)
- Brookhaven, MS
- Posts 38
- Votes 7
Originally posted by @Susan Maneck:
Here is an important question, Antonio. How handy are you? How much of the work rehabbing house could you do yourself? Mind you I hire people to do all my rehabbing but I'm a sixty year old lady with more money to play with than what you have. By the way you can buy houses in south Jackson in the 30-35K range without a leaky roof. The neighborhood is slightly better than the one where I own most of my property, but I'd be really reluctant to buy a foreclosed house with a leaky roof. Mold grows way too fast in Mississippi, and those houses are often vacant for years before they get to the market.
Well I would say I'm very handy. Im just ignorant of the fact about home materials and what need to be fixed in a home and estimating the cost AND how to do it. Lol I need like a hands on training done. Im a very quick learner and Im willing to do the work myself.
Post: This stuff is very hard for me (Investment Stories?)
- Brookhaven, MS
- Posts 38
- Votes 7
Originally posted by @Susan Maneck:
Antonio,
I'm a JSU professor and when I first read your post I was going to say something about that car as well. If you want to get rich learn to live poor. I live in a home in South Jackson for which I paid 30K. I think the best place for someone like you to start would be on a foreclosed multi-family property with no more than four units. Then buy it with an FHA loan and live in one of the unit. You could probably find one here in Jackson for 45K.
Wow. Its shocking that someone from my area is on the site. I lived in South Jackson off Raymond Rd but I moved last year. Yes, that house hacking strategy is something i've been looking into a lot lately but my concerns where not being there most of the time because I travel to earn an income. Im also not good at renovating myself BUT IM WILLING TO LEARN. I've done painting and carpenter work with my uncle. Yeah I know the car was a bad purchase whenever I'm crunching in numbers now. My annual income is flexible too. Its not always low at 40k. It goes up and down.
Post: Seller Finance QUESTIONS (I THINK)
- Brookhaven, MS
- Posts 38
- Votes 7
they aren't staying*** my bad lol
Post: Seller Finance QUESTIONS (I THINK)
- Brookhaven, MS
- Posts 38
- Votes 7
This interracial couple I met today inspired me. First off, Im new to this thing. Secondly, I'm trying to learn the different strategies and techniques to real estate investing. The couple just started and already have 4 properties. They aren't financing the homes with banks. They are basically rent-to-own and just paying the seller every month BUT they are staying in the homes themselves. They find vacant homes and get a contract with the seller. Fixing the SFH up and renting out "THE ROOMS" to different individuals. Mostly traveling workers. They do the renovations themselves and they aren't licensed RE agents.
Im so interested in this strategy I told them I'm going to ask them a lot of questions but I brought it to the BP community because you guys have more knowledge of this. They said they are helping people who don't have time to renovate the homes and won't an income every month while they do the ground work. What is this strategy called and what are your thoughts?
Post: This stuff is very hard for me (Investment Stories?)
- Brookhaven, MS
- Posts 38
- Votes 7
Originally posted by @Aaron Brown:
yeah man, sounds to me like you needed a good local realtor/agent to show you houses, give advice on properties/locations, and answer your property specific questions.
The websites/apps I mentioned anyone can look at, but with Fannie Mae, HUD, and MLS listings, you're really going to need an agent to set up showings and make offers for you.
Check out this house which is about an hour and half from you. I just found it on Fannie Mae website. Looks like it needs a roof and a little work, but could be good deal! Right now it is owner occupied bidding ( indicated by the first look icon), but afterwards if it isn't sold then investors can bid on it.
Yeah I kinda like it! I don't know how to evaluate deals though lol But I do know its all about the numbers
Post: This stuff is very hard for me (Investment Stories?)
- Brookhaven, MS
- Posts 38
- Votes 7
Originally posted by @Aaron Brown:
what city in mississippi do you live?
Best place to start is on the MLS and with a realtor. Are you set up with automatic emails from a realtor? That's the best place to find multi-family deals.
I also check the HUD website, Fannie Mae website, Zillow, and Craigslist sites daily. I have the app for each of the above sites on my smartphone! Also, by checking these websites daily, you will begin to learn about your area and what home prices are going for, and consequently what would be a good deal or not.
Are those sites considered "realtors"?
Post: This stuff is very hard for me (Investment Stories?)
- Brookhaven, MS
- Posts 38
- Votes 7
Originally posted by @Aaron Brown:
what city in mississippi do you live?
Best place to start is on the MLS and with a realtor. Are you set up with automatic emails from a realtor? That's the best place to find multi-family deals.
I also check the HUD website, Fannie Mae website, Zillow, and Craigslist sites daily. I have the app for each of the above sites on my smartphone! Also, by checking these websites daily, you will begin to learn about your area and what home prices are going for, and consequently what would be a good deal or not.
I live in brookhaven, ms but I travel ALOT!! Im on realtor ALL THE TIME. I THINK TOO MUCH and its two homes in particular I'm looking at but I still don't know how to go about them or what I'm doing lol I never checked, hud, fannie mae
Post: This stuff is very hard for me (Investment Stories?)
- Brookhaven, MS
- Posts 38
- Votes 7
Originally posted by @Aaron Brown:
definitely check out the FHA low down payment loan option. Check out the forums on house hacking. Great way to start out.
Good luck!
Yes. I have been studying it for a couple of months. I first learned it from Jay Morrison (google) and he mentioned FHA loans but Im not sure that my area is big on MultiFamily and not sure where to find any "good" deals on them in my area. Mississippi
Post: This stuff is very hard for me (Investment Stories?)
- Brookhaven, MS
- Posts 38
- Votes 7
Originally posted by @Adrian Reyes:
Antonio Evans I literally just joined BP and it is great to be surrounded by well educated Investors and newbie Investors me myself am new to Real Estate and I do agree on local Real Estate meetings and associations I'm actually attending a meeting this week it is a great way to organically meet and greet with potential mentors it's awesome me myself am trying to run away from that w-2 life and create the life of freedom, but anyways stay true to your goals buddy and good luck in your future success
"A journey of a thousand miles begins with a simple step"
Thank you my friend!