All Forum Posts by: Brenden Mitchum

Hey @Ethan Ross!

You can definitely find them on the MLS. Team up with an agent in PA and they would be able to help you out. The only problem with this is that you cannot (as far as I am aware) search these foreclosures by owner in order to purchase multiple from one bank.

Your other option is to contact local banks and lenders for their list of foreclosed homes. I am sure there are also other sources of this information such as listsource.com. Hopefully, some seasoned foreclosure investors will hop on here and offer up some more sources. 

But this should get you started. If you have other questions or just want to chat, feel free to message me anytime!

Hey @Charlton Ho, welcome to the BP community!

I just sent you a Dm!

Congrats @David Prince! And good call having an attorney look over the contract. 

Good luck on the rest of the deal!

Hey @Daniel Snyder, welcome to the BP community!

Your original question has already been thoroughly answered, but to sum up: You can definitely scoop up a house hack duplex with traditional financing in the Greater ATL metro. You do not need to give an all cash offer but, as others have suggested, you will have to be competitive with other terms. 

To answer your second question; for a house hack, I would recommend looking in Cobb and Gwinnett County. I frequently see duplexes here that would make for good house hacks. Keep in mind, with the market price where it is and market rent where it is, cash flow will be tight. You may have to get in on something that needs some work to properly cash flow. But if your goal is to just cut down on living expenses, this is totally attainable. So start analyzing some deals and sending in some offers, man. Worse thing they can do is say no. 

If you have any other questions or just want to chat, please feel free to message me anytime!

Hey @Darrien James, welcome to the BP community!

The BP podcast is a great place to start. Also, make sure you are reading as much as possible since there are so many great books out there. Between books, the podcast, and staying involved here in the forums, you will gain a massive amount of information. Other than that, just start developing your REI goals and plan. Start with a 5-10 year vision and work backwards. This is vital because it will help keep you on track in a world filled with options and shiny objects.

You also may want to think about getting your salesperson license if you enjoy that process. You should easily be able to obtain this during your summer break.

If you have any questions or just want to chat, shoot me a message anytime!

Hey @Chris Adams, welcome to the BP community!

This sounds like a lot of speculation to me. Other than prices, I don't see any numbers here. So what are the numbers? What can you expect to rent for? Keep in mind this could be up to half what the SFR in the area are going for. Also, keep in mind that zillow's zestimate is worthless other than as a very general ballpark. I definitely would not trust it for something as unique as a mobile home on land. In fact, I would not count on that land with home being worth any more than the land itself. Many investors do no value mobile homes themselves when underwriting unless they are quite new and in great shape.

So my suggestion would be to first run the numbers to see what your cash flow and ROI would be. Without that, you are just speculating.

Please, feel free to message me anytime if you you have other questions or just want to chat!

@Daniel Sager

I'll shoot you a message right now!

@Jorge Lopez

My pleasure. But I don't think you'll find much info on lease purchase in either of those books. Both are still great reads if you are just getting into REI. However, save yourself 40 bucks and just buy the kindle versions on amazon. Or save $30 and buy paperback (unless you really want to read them on paperback, kindle and listen on audio).

Hey @Jorge Lopez, welcome to the BP community!

Right here on BP is a great place to start. Just search "lease option." I'm sure there are also tons of videos on youtube on the subject and I believe Brandon Turner even touches on this in his "Book on Investing in Real Estate with Low and No Money Down."

If you have a specific question regarding the topic after you have thoroughly researched it, throw it up on here and someone will definitely help ya out.

Please, feel free to reach out to me anytime if you have questions or just want to chat!

@Fabian Weldon 

You've come to the right place! However, it is highly unlikely that any seasoned investor is going to respond to this and take you under their wing. There is tons of knowledge here on BP and elsewhere so go out and obtain it. Read a ton and listen to podcasts. If you run into any tricky topics that you don't fully understand, research them further. Then, if you still aren't sure about something throw a question up on BP and I'm sure one of those seasoned investors will respond. REI is a big world and there is seemingly an infinite amount of information to learn but luckily you have time on your side so just get out there and learn everything you can.

If you need any educational material recommendations, have questions or just want to chat, feel free to message me anytime!