All Forum Posts by: Andrew Jones

It's hard to do better then getting a free house with a paying long term tenant. Seems like you should not change anything. You can always set up a property management company later.

As long as you buy right then the cash cash returns are simply better with good financing. Also if you dont have a lot of cash it's the only way.

A good paying job can really help with getting loans, but they usually want two years of proven income. Also this isn't the only way to get good financing. You can go after owner financed deals which is often a win win situation because the seller a better rate then a savings account.

The numbers look good. I would buy it if there isn't more then 20k in

3x or higher.

Are all 30 in areas you are intrested in? Have your drivin by these houses? As far as not wasting realtors time well if your a serious buyer then your not wasting there time with questions.

In my area reos that are priced right sell within two weeks so you have to move quickly and know the prices of the areas your intrested in.

Great video with clear explanations. Way to promote BP! I have been recommended this book before in the past and here about it again. I better get my hands on a copy soon.

Not sure about your area, but in CA homeowners that get foreclosed on have a 90 day redemption period. So during those 90 days the bank just sits on the property.

Attend some auctions and network with the cash buyers. As mentioned above there are a lot of posts on this forum about this subject that you should check out.

70% or ARV doesn't sound good. 55% ARV is what I'm hearing rehabers are getting in this market. I would also budget 5-10k extra just in case.