All Forum Posts by: Brandon Beale

Thanks. I'm having a hard time fining people locally. At least those that understand real estate investing.

So. Trying to get started. But it seems like life is just tossing one obstacle after another in my way. Yesterday evening I was informed that I no longer have a job. I think the actual reason behind it has to do with cutting cost in the midst of a huge slump. So I understand. I don't want to be bitter about this, and there's really no point in it anyway. Perhaps life is clearing a path for something better? 

Additionally. Is there a way you could buy the new property anyway, and still live in the current one until the year is up?

From what I understand you cannot move withing a year unless there are extenuating circumstances beyond your control. I suppose you could try to refinance out of the existing fha mortgage. But I don't know what kind of title seasoning fha has. I'm sure someone on here has a more solid answer.

I suppose the best way for that would be to use website landing pages that they opt-in to. 

Honestly doesn't sound like a great deal if I'm reading your numbers right. It's worth 220k as it sits, the arv is 230? So 30k in rehab to gain 10 k in value? I'd pass on this one if it was me.

I would defiantly find a place to live asap. And in a few months to a year, when your back on you feet, look into a live in flip. As far as the credit situation goes. That just takes time. I've went through a patch of rough credit myself. It's taken 5 or 6 years to just regain a "fair" credit rating. I wish you all the best though!

I think the first step is to talk to your sister. Then If she agrees, attack it together. I just purchased a book yesterday off BP on rehabilitation cost. So that would be a good step too. But, basically you need to get with your sister, get her on board, then crunch the numbers. What are the rehab cost, holding cost, the ARV? And important. How much money do yall want to make? Just some things to think about. Happy investing!

Brandon

Wow! That is pretty high. I'm from West Virginia. They don't really tax the heck out of you on anything here.

No Problem!