All Forum Posts by: Brandon Turner

Thanks for sharing that Jerry!

Hey Robert LaBrie I'm not the expert on this, but what State are you in? This will make a big difference, I know.

Also, you should toss up a picture on your profile! ;)

I'm gonna have to bump this one for someone more familiar with real estate law! However, I'm assuming that it would be not-okay. Anyone else?

P.S. - you should throw up a picture on your profile, Gabriel A. and send me a colleague request!

Hey Tarun Kapoor! Interesting question.

I actually grew up in Minnesota, just north of Minneapolis :) I couldn't handle the cold though!

In my experience, the layout doesn't seem to matter all that much for rental purposes. Obviously, this depends on the specific market, but I find most people make up their minds as to whether or not they'll rent it before even stepping foot into the home. The re-sale question is valid - but if you are planning to hold for the long term I think it would probably be okay. You probably will only sell in a really strong market, so it probably won't matter a lot then either. You could always plan on adding a bathroom or making it less weird later on as well.

Also- you should throw up a picture on your BP profile! - Not that the stick figure holding the money sign isn't cool... :)

Anyone else have any thoughts?

Hey Adam J! Great to meet you!

I bought my first investment property at 21 so it's exciting to see you move forward. I can't say I know much about the SAFE act - but I'll do some digging.

Also - I'd definitely recommend plugging into BP as deep as you can. Throw up a cool looking picture, fill out your profile completely, check out the BiggerPockets Blog (http://www.BiggerPockets.com/renewsblog (especially the mobile home investing articles!) and keep searching the forums.

It's great to have you here! Reach out anytime :)

Great question Steve Wilcox.

I've been reading on this a bit too. My guess is that the government will just step in and throw more money at it, putting a band-aid on it for now. However, the FHA may realize it's been too "loose" and start to tighten standards.

This would be rough on flippers - because the first time home buyer is generally the best buyer of a flip. This is especially true in my area, where the vast majority of all purchases are FHA. If they tightened their standards, a lot more homes would sit longer on the market.

On the other hand - rentals would sure pick up!

Any other thoughts?

Sounds pretty good to me. Just realize that value estimations are just estimates. In the end, a property is worth what someone will pay - no more, no less. But this is how appraisers are going to look at value.

Just a hypothetical question - if you won the $500 Million dollar Powerball jackpot - what would you invest in? Or would you?

I'm with Bill Gulley. Get just enough info to make a relationship and decide if it warrants further investigation. When you meet in person (if you can) you can work the other questions in via a casual conversation.

Hey Michael Jobe

I'd also say that wholesaling isn't a bad idea like those guys might have told you. If there are investors willing to buy there are always deals to be had that you can sell to them. So maybe don't give up on that either. Really, you just need to pick one area that you are interested in and jump in 100%. Don't get distracted by the shiny lights - stick with one thing and make it work.

Good luck and keep in touch!