All Forum Posts by: Cynthia Franklin

I would really like having a Vacation Rental Forum.  Although, I have done only Wholesaling with a brief excursion into Short Sales, my goal is to own multiple Vacation Rental Properties.  This thread has already given me some solid leads into where to buy my first property.

Looking forward to the meeting. @Jerry Puckett is the best Mentor around. He will be great to listen to tonight!!!

Congratulations on your decision and welcome, David T. If I can be of help, let me know.

I was wondering if I can get a recommendation for a Realtor/Broker for my first Short sale in Alvarado, TX? I need to get the property listed.

Billy Rogers. Welcome to Bigger Pockets. You will find more than enough info and friendly people on this site. I live in Arlington and do Wholesale deals. This is a fast and very, very inexpensive way to build up cash for your next deals.

Kyle J.
Thank you for the advice. I think the deal would only be available as an owner finance with a new tenant.

Ibrahim S
That was funny! Thank you so much for the advice. This seems really tricky to me. After I get the tenant out, it seems like the best option would be an owner finance since the home is upside down.

Hooray. BiggerPockets helped me to find a mentor and close my first deal in Fort Worth. I have a 2nd deal in the works in Dallas but I have a question with my 3rd deal. I have a lady with a property in Alvarado. It is a manufactured home. She paid $105,000 and owes $89,000. She currently has a tenant living in the home for approximately 1 year. He has stopped paying the rent and is 4 months behind. The home owner signed a "lease purchase agreement" with this tenant that is very vague as they came up with it themselves. The current tenant wants the homeowner to pay him $6000 to move out. I have been asked to come in and help. My desire would be to get the current tenant out and wholesale this property to a Real Estate Investor who will fix and flip. It looks like this might be a better owner finance deal since the current home value is $81,230. The owner has not been inside the home in the last 6 months to note the condition. A ballpark figure of estimates based on the owners response to my questions would be $12,000 (mostly septic tank repair, paint and carpet).

Please give me so suggestions?
Cynthia

Patrick,
Give me your email and I will send you a copy of the form I use. Hope this helps.

Cynthia

Al Williamson. Thank you so much for the encouragement. I need it. Breaking into this competitive career takes work, courage and perseverance. Eventually, we all win.