All Forum Posts by: Cheryl Packham

I was able to access the rental property analysis and my old forms when I went to the link above posted by Crystal Smith. 

Yes the button does not work for me either.  I also can't get into my old reports.  Kind of annoying.  

Yes I own 2 other rental properties and a primary residence.  I have owned this property since November 6th.    

So, I just read the article, "The creative way to finance investment properties you probably haven't discovered yet." And this was actually what I was planning on doing. However there was a section of concern for me in this article. It states that you can only take out as much as you used to initially acquire the property. Well I bought a dilapidated home and it was in need in a complete renovation so the purchase price was very low. Is there anyway to take the renovation figures into account when doing a cash out refinance or is the only number they go off the number on the HUD 1? Thanks in advance.

Hello all of you Cheyenne real estate investors, wholesalers, landlords, etc. I am hosting a meet and greet to get to know some of the local people in the business.  I will provide appetizers and refreshments.  Looking forward to meeting all of you!  (Oh and if you Google the address and see a boarded up house on street view, that's the one but it should look a little different by then.)

Hi everyone!  I am hoping you all could help me out. I am trying to plan a Real Estate Investor Meeting here in Cheyenne, WY.  I know there are several investors throughout town but I want to plan a meeting that is appealing and will encourage attendance.  

Does anyone have any thoughts or suggestions?  What are you all doing in your cities that seems to be working?

Thanks!

We are debating between several options.  We plan to fix up the property to make it liveable.  For example, get power, water, and heat reconnected.  Once that is done then we will probably rent it out or use it as an Air BnB.  I am not sure yet.  I am estimating it will take about $15,000 to get it occupied and another $15,000 to make it pretty.    

Update:  

I am under contract to purchase the property.  We decided to pay closing costs and a fair purchase price for the property so that we could all walk away feeling good about the deal.  

Hi All, 

First of all, thank you for your responses. 

I have met and spoke with him and his brothers.  Their mother is still alive and all four of them made the decision to give the property to us after Habitat for Humanity could not accept the property as a donation.  They sent me the full report as to why they couldn't do it and what expenses they had determined.  

Thank you for all of your help and insight.  It is greatly appreciated.  

Ok, all you experienced investors out there. I have a to good to be true deal and need all of the "What If" scenarios thrown at me.

I have come across a property through direct marketing.  The owner is in his 60s and it was his mothers place.  There are two small houses built on 3 small lots.  

The seller wants to just give me the property because he lives in Arizona and paying the taxes (yes, he does I verified) and paying a person to keep an eye on the property to keep the vagrants out (I also verified this and met the guy who has been taking care of the property) this is just a liability.  He feels like since the properties have been vacant for so long that they are worthless and that due to their state of repair it makes the land value worth nothing.  

The property has been vacant since 2007 and was boarded up.  Upon initial inspection it appears to be structurally sound, all plumbing and electrical seem to be intact, and the roof is in pretty decent shape.  There are no signs of mold or water damage and no major damage to interior or exterior.  

I have verified that there are no liens on the property and it is not condemned.  What other things should I take into consideration before signing a purchase agreement for this property?