All Forum Posts by: Greg Leach

Recently my friend's grandmother passed away and the family is going to sell her house. Obviously my opportunity sensor bells started ringing; however, I've never done a deal yet, so i don't even know where to begin. Should i approach the executor first, or should I get pre-approved for a loan? I know I'd have more leverage if i was able to be a cash buyer, but I only have enough saved right now for a down payment. I know that I'd save on commission and realtor fees if I get this deal before it is listed with an agent, so I have to act fast. 

I've been inside the house a few months ago and it seemed like everything was fine, may need some updating, but at that time I wasn't there looking to buy the house. From what I could find on Zillow's "recently sold" listings, a comparable property just down the street that had been updated sold for $400k in December.

If you were in my situation, what would be your first course of action?

Or maybe I'm foolish for wanting to buy my friend's family's house?

thanks @Kim Stofan

Glad you're going to be able to start investing locally soon. Just out of curiosity, where are you invested out of state?

@Wes Blackwell

There are other reasons for getting out of California, but I have looked at some houses, toying with the idea of buying here. Possibly house hacking near Sac State, but with my limited funds it's difficult to find a property that follows the 1% rule that everyone talks about... I don't know if California is an exception because of the house prices, and we're supposed to invest for appreciation instead? I've never found the idea of investing for appreciation appealing because appreciation is never guaranteed. Granted, nothing in life is guaranteed.

I really appreciate your input and advice, and an extra $2000/month really does sound appealing. I'll have to reevaluate my options again. Thanks again.

thank you @Jerry W.

I'm trying every day to learn a little more. I don't want to get caught in analysis paralysis, but I also don't want to get caught with my pants down.

Thanks for your advice! I'll definitely check out the education section.

Hi everyone! 

I'm new to Bigger Pockets. Have been listening to the podcasts for a few months now. I've always been interested in real estate, specifically buy and hold Investing, but I haven't yet done any deals... primarily because I live in California and I'm scared of the laws here. But once I'm done with school I plan on moving out of state, so I'm researching markets and demographics to decide where that'll be. 

Thanks in advance for any support you guys give me, and even though I am new to the whole real estate world I'll do my best to support you all too.

-Greg