All Forum Posts by: Derek O.

Melvin List can I contact you about some of your loan programs?

Rich Baer Thank you for your input. I am going to take more time to make sure all the due diligence is done on this one.

I am still very new in REI and not sure how to proceed on this deal. I was approached about a house that was recently inherited and no payments have been made and it is vacant. The bank told them they have 90 days to sell or they will foreclose. Here's the question, they are fine losing the house. I would like to see if I could possibly pay them a small amount and have him sign the house over to me and just take over the payments and flip it. He owes $90k. The house was appraised at $140k in current condition. He is at least 90 days behind on the payment. How would I do all this legally? I'm assuming I should have a Real Estate Attorney involved. Thanks for any advice, Derek

Thank you for all the responses. @Stephen Anderson, I would appreciate it if you could supply a list of those lenders.

I am having difficulty finding a lender who will lend on a smaller loan. I am looking to purchase a condo in South Florida as a rental but two lenders who I have pre approvals with won't loan on anything under $60k. I thought that I would reach out to the community here and see if anyone had any knowledge of a lender with lower minimums or other creative financing ideas. Thanks, Derek

Thank you for the recommendation. I will give them a call

Good Evening,

I currently have an offer in a property for my first fix and flip.  I was curious if anyone could recommend a good contractor or inspector in the Treasure Coast or South Florida area.

Thank you

Thanks for the breakdown with the real numbers. Did you have any problems with the pool? I am leery of a house with a pool because it seems it could get expensive if any structural problems come up.

Hello Eveyone,

I am new to REI and am looking forward to learning from everyone here. I have been reading so many forums here that I figured I should join the community to get more involved.

As is stated earlier, I am new to this arena and looking to find my first property.  I am looking for a house to rehab and flip here in the St. Lucie County or Martin County area.  I have been looking for a while now and even put a few offers in but I am finding it difficult to find good deals.  Any advice or tips would be appreciated.

Thanks,

Derek