All Forum Posts by: Craig Jeppesen

Three options:

Refinance it, lower price so it will sell, get foreclosed on.

Once you arrive apply for the mortgage the bank will do an appraisal. They will give you a mortgage up to 75% of the appraisal amount. My best guess is it should be pretty close to the $250k so the mortgage will be at most $188k.

Doesn’t look like you have enough equity to refinance. Just pay off the cc.

There is this little economic concept called inflation. It means prices are going up and should continue to go up over the long turn. Sure sometimes the train runs off coarse but it always corrects to get back on course.

I am in SE Idaho, but BOISE is one of the hottest re markets in the nation. You are probably going to get discouraged. It is going to be hard to find a deal. Don’t give up, deals are out there. I wouldn’t just jump in and buy a place, you need to learn the market anywhere you invest. Spend the rest of the year researching different neighborhoods and watch the mls as houses get listed and sold. This will help you learn what areas and home types are more in demand. Watch Zillow and craigslist for what rentals come up, what they list for and how long they take to get rented.

My best advice is don’t invest in anything you don’t understand. I would take it slow, learn your market and don’t lose your money.

Why is your score low? Somethings can fix your credit real quick like paying a collection acct. others will take years like late payments, repos, and bk.

No it won’t work because it will cost you at least 10% in commissions and closing costs to resell. How will you recoup you kitchen and bath repairs and holdings costs. You would still have to get these properties at a discount but it would have to be more than 10%.

Syndication = yes

Flip proceeds = no

Flipping is a business not an investment.

There is always a fine line between leverage and risk and return on your investment. Everyone has their own opinion or strategy and preferences. This is a personal decision that we can’t make for you. Having more equity and fewer loans is more conservative but you will make a smaller return on your money. But also will never get foreclosed on. I am conservative so would rather grow slow and steady with less risk but others will tell you Leverage as much as possible.