All Forum Posts by: Dan Barli

Can you post the specifics @Ryan H.? Do you have pictures and a scope of work?

My pleasure. Keep learning and plugging away! 

Have you done a search on this site for events near you @Shaun Calloway? That would be a good way to find them. Also you can search on meetup.com or google "Houston REIA meetings" and see what comes up. Hope that helps!

Did you acquire this property @Long Lam? Is it for your primary residence? I just want to make sure I'm following what you're saying. 

Have you checked on this site for events near Philly? Also meetup.com is a good resource to find local REIA meetings.

@Curt S. I also live in northern NJ and it's very difficult to hit the 1% rule and some other metrics that you like to see from a rental property. The HOA on your example seems high and the taxes are very high, which would cut significantly into your cash flow. What are some of your goals? What are you looking to accomplish?

@Louis Van Der Westhuizen With REO's and short sales, you would have to submit your offer to the sellers for acceptance first, so you can use a financing contingency. If you are buying at the auction, at least in NJ, they want the payment in full within 30 days I have seen. You have to put up the 25% down as non-refundable, so be careful to make sure you have your closing lined up. The last thing you would want is to lose the 25% down if your lender is not ready. Other options are to bring in partners with cash or if you have access to a LOC, that could be another way to finance it.

Sounds good. That will give you a good idea of what you need to do in order to proceed. 

You would have to check with your lender @Peyton Pedersen. It all depends on the co-signer and what the lending guidelines would require from you. Have you spoken with any loan officers? 

Have you tried to call some brokerages and ask the broker of record for their recommendation of their top agent @Ryan Thomas? That would probably be the easiest way to find the type of agent you are looking for.