All Forum Posts by: Jacqueline Coombs

I'm interested to hear what you find out as well! I have also seen entire homes listed on AirBnB in GR recently.

Just closed today on the deal!! 28k for a great BRRRR property!! I made a new friend throughout the process as well... the seller! :)

Welcome! 'Lots of great information here and the podcast is fabulous if u like to listen in your car or around the house! Check out the local REI meet-ups here in GR as well!

Whoops! It is a solo 401k. Sorry, guys!

My husband and I just borrowed 50k from his solo IRA for purchase and rehab of our next BRRRR deal. We figured it was much better than going the hard money route, even though we will be paying it back at 4% at a 5 year amortization rate. We just factor the payments into the holding cost until refi. When it's all said and done, we will have paid ourselves back and will have another rental house with no money out of pocket! I think it's a much better return on our funds which we can turn around and use again and again.

Thank you, everyone! I am really excited!!!

Omg!! I did it!! 28k PP with seller paying all back taxes!! I am so proud of myself for my first successful face-to-face negotiation and so excited to do this rehab!! Thank you everyone, for your ongoing support!!

'Getting nervous about meeting with seller tomorrow!! I really want to help this lady out but I know I can't go over 30k all-in. I have a tendency to take on the emotions of others so this will be a tough test of my negotiating skills. Any other advice from you guys/gals that have done this before? Thank you!

Fees upfront are usually a sign of a lending SCAM. I came across a "lender" once who wanted an upfront fee for "loan insurance" ( which is total BS by the way) and wanted me to fill out a form for an approval within a day or two. There is no insurance required on a private loan for one thing. And for another, this form they wanted asked for only basic personal information, nothing about the actual deal I wanted funding for. I asked the "lender" for references and requested a meeting via Skype and never heard from them again. 'Obviously someone fishing for people to pay bogus fees upfront and run with the stolen money. Also, anyone offering ridiculous loan amounts or unbelievable interest rates are SCAMs. 'Hope this helps!

That's a great idea, Alex Shaughnessy! I just talked to my partner and he said pretty much the same thing. I think laying it all out for her to see why I need to be closer to 25k will make a difference! I am all about being transparent with sellers and I genuinely care about them and what they need to move on from their problem property so being upfront about how I arrive at my number feels like the right way to go.