All Forum Posts by: Eric Dowling

@Max Valdes FHA 203k is a great way to end up with a property that cash flows. Just run the numbers and be excited for rent growth and appreciation, but don't rely on it. Adding value with the 203k is one of the best ways to get into real estate in this market.

@Rachel Yoo joining the board/car/nar is about $700 and the mls is $400 plus monthly fee for supra. 

@Elice Hennessee House hacking is a great way to get started here in LA. It really depends on your budget and where you want to live. There are some options in Inglewood, Hawthorne, Carson, long beach areas. You are not going to get great returns here, but you do get great rent growth and a possibility of appreciation.

Steven Williams Hopefully someone smarter than me chimes in, but as I understand it there is not statute of limitations for liens. They are forever. This is where a lawyer comes in handy. And it does take time to file the motion to get it removed.

@Casey B. you are going to have a hard time finding a bank to do 10% down and finance the reno as well. There are lenders doing 10% down however, but they won't finance the renovations.  Have you looked into hard money? What are you looking to do with the property? Buy and hold or live in flip?

@Josh Wallace VA on a 4 plex is a great way to get started. There are a few people on here that have done the same. There is a lot out there, and Logan is right, there is quite a bit of competition, but don't let that stop you!

What price does the VA cap you, is it like FHA guidlines or does it have a separate cap?

@Chris Bellomo I'm not sure at exactly what stage exactly you were in the negotiations, so you could have a case and might not. A lawyer should be consulted.

The paragraph you should look at in the Sellers Multiple Counter Offer (form SMCO) is this one:

BINDING EFFECT: Seller is making Multiple Counter Offers to other prospective Buyers on terms that may or may not be the same as in this Multiple Counter Offer. This Multiple Counter Offer does not bind Seller and Buyer unless all of the following occur in the times specified below: Seller signs in paragraph 5, Buyer signs in paragraph 7, Seller signs in paragraph 8, and Buyer receives a copy of the Multiple Counter Offer with all of the signatures. (Note: Prior to the completion of all of the foregoing, Buyer and Seller shall have no duties or obligations for the purchase or sale of the Property.)

The question is was all of this completed?

It sounds like you may have not been at this point yet, multiple counter offers can be tricky and when you think you have accepted and are all done, it turns out you've lost out.

@Peter Sejna congrats on passing the exam! I am with KW and couldn't be happier. They have a very good training program for new agents. The commission split is 70/30 until hit the cap (usually 25k) then you get 100% of your commissions. Monthly fees depend on the location, but are usually very low or none existent.  You also have a coach/mentor who works with you one on one.

Good luck and don't hesitate to reach out!

Luis Menendez just search BP. Type in refi or HELOC and you will get 1000 discussions. It is a very popular topic with pros and cons to each.

@Miho Y. The sellers do have to disclose a death on the property. You are going to need an attorney for this one  if you wish to pursue the seller. As far as proving someone died there you will have to do some digging if you don't know the name or anything. Your lawyer can help you there as well.