All Forum Posts by: Travis Soileau

I would consult with a lawyer to get the papers drawn up. An appraisal would also be a necessity. Also create a couple plans to be able to get out if there is any problems.

It looks like it is all coming together. I submitted a loan request in eloan. I also have the bank looking into it. I will be doing the appraisal this week. I have the wood inspection and termite inspection on the banks desk tomorrow. I have the 25,000.00 ready to put down. Its is all coming together.

In Louisiana, there has been no economic effect at all. Everything is still running fine. We are dependent on oil. When oil companies are doing good. Louisiana is doing good. The majority of people here work offshore on the oil rigs.

What are some idea's about billbacks? What exactly is a billback?

I found another steal guys,

I was talking to an old co-worker who told me that their family feud with a couple rent houses is about to end. She told me the buyer for these rent houses backed out. She told me they were basically going to give these houses away.

House #1:

2 bedroom 1 bath needs paint, cleaning, new floor in about 1/2 the house. Needs a lot of yard work. But other then that it is good.

House # 2:
3 bedroom 1 bath needs paint outside and yard work. I couldnt' get inside but it looks good.

I asked the lawyer what they would take for them. He said I have to bid. But then I asked him again what he thought. And he said If i put in a bid of about $25,000.00 cash they would take it.

2 houses with some TLC for 25,000.00. I talked to an agent and they had a house sell on the same block for 65,000.00 about a month ago. 1 house at 45,000. and another for 65,000 sell. Could be a profit of about 85,000.00.

Now the question is. Where do I get 25,000.00 cash. I told him I have it. I do but I am working on a 7 unit and an 8 unit purchase. I need the 25,000 for them.

Any suggestions?

I am putting together a plan. I do computer work for some doctors. My step dad has about 1/2 mil but he is worried to do anything with the economy. Where I live I have seen zero economy effect though.

Again, What are my options?

I got the buy sell agreement on 150,000.00 I am going back to the bank tomorrow. I got the addresses to get the wood inspection / termite inspection. I will call them tomorrow also. I went take pictures today. They need a little TLC. But it will come together.

Thank everyone for the replies.

We will see what happens. I plan on getting everything done this week. I'll keep my fingers crossed. I expect everything to fall into place though. I will make this happen.

I talked to the bank and it seems to be ok. He wants me to turn in my tax returns for the last two years. The only problem I can see is that last year I was self employed and I didn't show a lot of income for my taxes. I will see how this turns out.

I also need a termite inspection, electrical inspection,

Thanks for all the replies, LoL funny stuff

Thanks for all the replies. I am talking to the bank as of right now. I got to go through all those procedures. I will get it done thought. I talked to the president of the bank. Then someone fell in the lobby and bumped their head on the counter. I told him I would come back at a better time. The old man's leg gave out on him. He seemed ok though. Crazy day Friday though. I never saw anything like that.

I will go finish the meeting monday. Anyone have any tips when dealing with these guys? I used to deal with a loan officer but because my deals are become bigger I have to talk to the president now. I know everything will come together though. The only problem is that he now wants 25-30% down in order to do the deals ; / He is playing hard ball with me. I will break him down though. I knowing this is a good deal I do not see how the numbers can't work. He has to see it too. Thank, for the replies.

Any tips would be appreciated greatly.