All Forum Posts by: Garrett F.

Welcome to bigger pockets

If you currently own your own home then a Heloc could be a possibility. The other thing you need to be doing is start building up your investment capital which means cutting back on things you don't need.  Study the market and if you come across a good deal you can reach out to investors to partner with or get the property under contract and find a buyer.

Hope that helps 

Garrett

While overseas it's best to invest in an area that your really familiar with Or an area in which you have a honest and trusted team.  Opportunities are everywhere an I wish you the best. Boise is a stable market

Hope that helps

Garrett

Sounds like your well on your way, welcome to the group.  Remember, not all financing has to be conventional.

Best of luck,

Garrett 

Before committing to anything explore the market and find what your comfortable doing.  Each market is unique and has its share of niches. There are opportunities everywhere, I just wish I could create California rent in our market :)

See you when you get here

Garrett

Judicial foreclosures have a 6 month right of redemption in Idaho

I'd avoid doing any improvements to the property during the redemption period. However, nothing prevents you from renting it out and collecting money in the meantime. If you let the property season a year, you will also, be able to avoid income tax and reduce taxes to capital gains....

Congrats hope to cross paths

Garrett

I'd not try to upgrade to corporations. You can still manage to use/distribute shares on an LLC and if it's privately done the SEC won't be pounding on your door either

Hope it helps

Garrett 

It sounds like the Attorney can be a great help on this one.  Prior to any commitments See if the leining parties will settle out.  No company wants to be known for punising a 90 year old person behind on their bills (great newstory).  Use the 90 year old owner as leverage and see if the city will forgo any violation penalties too.  if everybody will sign off or if the amount is a reasonable one  grab a hammer and the house.

Just be sure that the lein holders supply you with offers in writing etc...(a contractual lien avoidence)

Best of luck

Garrett 

Not every MF residence starts out that way. I knew a guy that bought and renovated a church building.  Some homes can be converted into duplexes.

     In smaller towns it requires creativity, just be sure your not looking for something that the city can't support. If everywhere you look has for sale/rent signs that can be a good indicator that the microeconomy is stagnant. 

My brother had a mobile home placed on his property away from their house and collects 375 a month.

Be creative and don't get discouraged 

Garrett 

Call a few property management companies and see what their vacancy rates are.  If you don't mind taking less money you may just want to hire them (property management) to fill the unit for you. 

Sometimes our eagerness to fill a unit arises suspicion in others. Have an impartial party show the home on the next appointment and see if the results change

Hope that helps

Garrett