All Forum Posts by: Justin Fernandez

Pretty positive reading this post was a miraculous sign that I need to copy exactly what you did to get approved for what I want to do. I wanted to use the VA loan to occupy a multi but in my situation, my loan fell through due to my wife's business write-offs. Apparently using Turbo Tax doesn't really mean it's worth using even if it's free for service members but you can't complain about free.

If you wouldn't mind, could you walk me through how you convinced them? I had no idea you could even do that! I can put together a nice package for them to review.  But want to be sure to put the right stuff together.  Your help would be most appreciated!

There is no HOA fee for this townhouse.

Still available!

Cool, thanks bud.  Now if only the seller was easier than the tenant! Oh well, money is money. Wish me luck!

Amy,

What part of GA and what are you looking for?

@Lamont Marable

@Eric F.

Found this old thread, was wondering what happened from both of your experiences?

I found a property that should be a steal, but the seller has a tenanat who stopped paying rent the previous month. Should I still lockup the deal or sell the property as is?

How much of the price should it affect?

Should I help out with the eviction or wait and move on?

No problem. I was confused a bit at first.  You also don't have to wait for the logo to load.  You can just hit upload and then click close.   It will populate on a refresh or a create pdf.

if you still have timel listen to Will Barnard's strategy on buying REO's. Just make your offer as strong as possible.

Shorter inspection period, although he reccomends 0 since you have time between acceptance and signing and the banks may give you up to 17 days depending on bank addendums

3% EMD (Copy of check)

No weasel clauses, but use the inspection clause

Tell them you will be living in it since they do prefer Owner occupied

If you don't already have an agent go to their listing agent and let them know you'd like to use them on the front(when you buy) and back end(when you flip)

Offer the selling agent 1 commission point more

Also, deals of the year come by on a weekly basis.  If it's a live in flip, I pull find another so make multiple offers.

Hope this helps.

I'd reccomend you give investing in duplexes, triplexes and quadplexes by larry b loftis.  He goes into more depth than just cashflow. In case you don't, to summarize you can live in flip the quad easier because it makes the numbers easier to work. You rehab your current unit. When a tenant leaves you move in to the unoccupied unit, rent out your old unit and rehab the new one and so forth.  Force appreciation, refi out of fha and use fha on another property.  You just keep building inventory while working your job and building wealth.  While he does emphasize Quads, trips and then duplexes as long as the numbers work for YOU.  So even if it's your first and your mortgage just gets paid by someone else, then cool.  Make the next deal a cashflow king because you have more experience now. But I would still the read book since his advice is still pretty solid.