All Forum Posts by: Greg Phillips

Thanks for the replies,

I know not to become emotionally attached and I'm aware now that's how the original post sounds lol in six months acquiring property shouldn't be an issue. 

I haven't really sat down and looked at comps and all that  or really crunched numbers on that specific property.

I was more so looking to see if anyone else has had experience with investing within the seasoning period of a Bk.

Thank you for the comments!  

Hi, I don't post here a lot but I know this is the best place to seek advice, so here goes 

I have my eye on a property in the town that I live in and it's a duplex thats been on the market for about a year.  The tax assessor value says it's worth right under 200k. The asking price currently is 170k and it has been slightly updated and is in fairly good condition so I know I could get into the property with equity at least I think.  Anyways I feel it would be perfect to house hack and Im praying it stays on the market until I'm able to get the financing.

The financing is my issue. 

I have good enough income and hardly any debt. I know I would qualify and be able to use an FHA loan. I've been basically approved by a lender that I've spoken with its just I have a Bankruptcy on my credit report. I'm only half a year from the seasoning period of two years. I've reestablished good credit and I have a stay at home spouse so her credit isn't good enough - no income.

Im pretty sure my only option is to wait and I'm okay with that just the fact that I might miss out on this deal is why I'm seeking some advice.  

Are there any creative ways we could get into this house hack or are we stuck waiting? 

Thanks in advance, much appreciated! God bless! 

Hey everybody

I'm trying to build a landing page that can be integrated with my Podio account but I'm having trouble doing so. I've built landing pages on Shopify, Wordpress, Wix and other sites but I'm having trouble finding one that "works"

I'm trying to have contact information from the landing page automatically sent to Podio so that I can easily contact clients.

I would like to know what services work well with Podio before I pay for it lol

If anybody has any insight I'd appreciate the help!

Thank you!!

Originally posted by @John W.:

Try and get an idea where they are at with their numbers...like get a sample of a few properties and do the comps and see if the seller is reasonable. Otherwise you can do a lot of work and spend a lot of time with a seller that wants unrealistic prices. 

If you see some great deals, get them under contract, with a contract that allows you to assign, and then find some buyers. 

Thanks! I talked to the seller today on the phone and he stated most ppl that have contacted him have made offers as low as 30 cents on the dollar. He’s looking more mid to upper range on his properties. He informed me if I could bring him offers in his range he would work with me. As far as I know rental property investors will buy deals as high as 80 or even 90/100 because if your not buying real estate you’re not increasing your net worth (read that somewhere lol)

If I can get some of these properties under contract for 7 cents on the dollar it shouldn’t be to incredibly hard to find rental investors to purchase at 8 cents on the dollar If the rental already have cash flow? Right? Most of the properties are already rented out and under lease for up to 3 years.

I don't have access to the MLS and no they're not in Olathe.

Thanks for the reply Duke, I was afraid I would get negative responses. I plan on going to the next auction I can attend. I only reached out to this person to ask about the property they actually live in and he responded he had 20 more that he needs to sell. 

I think I need some insight on this Okay so this is my first post here on bigger pockets and I pretty much have been reading forum after forum here at this site to get a better understanding of investing. Which has definitely opened my eyes as to how much goes into real estate. I’ve had a desire to get into wholesaling and eventually fix and flip but I have a full time job, two young boys and a stay at home mother to provide for so it’s kind of hard to find time. Long story short... I started to reach out and try to find deals, investors and motivated sellers. Today I inquired about one property and I came across somebody that had a loved one pass away and is moving across state. They own 20 rental properties and wants to sell all of them as soon as they can. He emailed me a spreadsheet of the properties, they’re addresses and the monthly cash flow of each including deductions for taxes and insurance. How would an experienced wholesaler go about perusing this seller? All the properties are Fsbo. I believe and have a feeling there’s opportunity here. Do I need to research comps and arv on each property and visit each on individually? try to find an investor to take on every property? Co-wholesale with a more experienced wholesaler??? I believe all the rentals are occupied besides 3. Any insight or advice would be greatly appreciated!