All Forum Posts by: Austin Youmans

It is amazing they can just choose not to do their job.
I had this happen to me with a mold issue which was super minor but still couldn't get the inspector in there.

I have never dealt with bed bugs but I would not let it scare me off from a good deal. You are probably getting a good deal because no body wants to deal with it but it does not mean it isn't worth it. I would keep going but make sure the inspector does a thorough job.

I would think that he still owes more than 400 k so I don't know that he will lower his price that much.
I don't know your market but that won't cash flow.

Did you work all your expenses in? utilities, vacancy, capex, maintenance, PM, taxes, insurance

Are you hoping to do seller financing or are you doing an FHA loan for the 3.5% down?

• Pay off high interest debt
• start analyzing deals online so you know what the market is doing when you get back
• start calling and interviewing agents to see who you want to work with
• read/learn
• write out your plan and commit it in writing
• network online

Ask the previous owner if he has had problems with either of the tenants and let him know that you need to let one of them go and see what they say. Also ask how long the tenants have been there.

Inform them in writing. It is your responsibility but you have no authority until you close.

Also don't forget to add PMI to your numbers when looking at properties.

That is exactly what I did.
Yes, get pre approved and find an agent. For both I would make sure they have done FHA loans in the past as there are more rules to follow especially if you do a 203k rehab loan which is what I did.

Also start looking for a deal and don't automatically assume your agent knows what is cash flowing property as most agents are not investors.

Don't know your market or your situation but you can buy up to a 4-plex with an FHA loan.

Let me know if you have any other questions.

Congrats on the new family!

How is your 401k Performing and does your employer have a match program?

I would not suggest a live in flip for your first deal with 2 small kids per what Jessica said.

Do you feel you need a house? You could buy up to a 4-plex and live in one of the units. (This is how I started) You can even use an FHA loan to do this.

how much cash flow would you have if you pulled all the equity that you could?

If you are planning to make it into a rental some day I would make sure whatever loan you get that you are cash flowing enough to make it worth your while.

What does everybody like for battery powered tools?

Looking to by a set soon so I am just looking into it.

• Ryobi is cheap and it seems like more tool options. I have a 12 volt drill that has been good to me, just underpowered.
• Rigid has a lifetime service warranty. Has anyone used it before?
• Dewalt, Makita, Bosch and Milwaukee seem to be on the same playing field.

Let me know what you think.

Sell and find a better deal.

Where are you planning to live? Can you use all the proceeds for a new deal or are you buying a new place?

After  your mortgage, vacancy, maintenance and capex it really wouldn't make you any money.

Rates are still low so you can get a good interest rate on a better deal.