All Forum Posts by: Becca Summers

In my area some listing stay on the market for a long time because they are short sells and the agent is using them to get leads for buyers. Technically the short sell isn't under contract until the bank accepts the offer. If the house already has an offer on it accepted by the seller but not the bank it's not under contract so it can still be marketed.

I'd say about a third of my office has one or two. 

@Alan Bischoff my husband and I where the same way. Huge Dave Ramsey fans of getting out of debt and staying out of debt. Then I heard someone say, "it's so cheap to barrow money these days." I looked at what it cost to keep my car loan for the life of the car which was $20k only cost $1,800 for the life of the loan. For me that was the big aha moment when I realized I could use the $20k for a down payment on a house and make more than $1,800 in the five years of my car loan. 

My husband was more like your wife hesitant to get into more debt so we came up with a system that made him feel comfortable. What we do is have a least 20% equity in each property so if we woke up one day and the market dropped 10% and we wanted out we could still sale. How we do this is buy properties at a discount and rehab to add value. I would suggest start with what your exit strategies would be and work your way back from there.

In my recent listings that attracted flippers one had 4 cash offers one was cash the other 3 where hard money. The current listing I have has 3 hard money and another might be coming in that is really cash. So bases off that small case study I'd guess 1/4 of flippers have cash.

Jason Lewis with Blue Mountain represents a flipper who works in that area. He has done 150 deals this year alone. I'm sure they are always looking.

Welcome to the group I'm excited for your future investing! I started with my  first investment the same way

 Are you doing a Utah Housing loan? They do not allow two unit properties. Many people mix these two up because it's a first time buyer program.

@Jason Rivera welcome to Bigger Pockets and investing!! There is tons of great stuff to learn on here.

@Jeffrey S. Breglio thanks for taking charge on this and setting something up. I'll check with my scheduled and RSVP if I can make it.

It all depends on the lease agreement. In mine I have the right to enter the property with 24 hours notice. They could use that to show the home. However I can't require them to leave.