All Forum Posts by: Jenna Walker

@Andrew Postell yes it does and I really appreciate your advise. Its buy and hold this time, I hope I get to fund this and win the bidding this time. 🙏🙏🙏Thanks again Andrew!

@Andrew Postell perfect answer for my question! Thanks a lot! When you do the second option, how long of the term do you use money? 6months, year?

@Joe Timko appreciate it. I may do that if it takes too long to process. Thank u Joe!

I never used hard money loan before. I am plan on bidding at a court house auction, would I be able to utilize hard money loan if I get approved?

Once I win the auction, I have to pay the amount in cash. I just dont know how hard money loan would work in this situation.

I am in need of 50k to close the deal and I need to use them approximately 3-4 months tops. I am thinking of reaching out to my family member to loan this amount. What would be reasonable interest I could give on top of the principal amount at the end.

I am thinking of returning the whole amount along with interest as soon as I refinance the house.

Thanks BP !

@Wayne Brooks Thank you! I appreciate it :)

Getting ready for an court house auction.

Mortgage amount being foreclosed is 206k

And interest accrued on file is 150k 😱😱

Now, if the starting bid is 206k does that reflect interest also ( bank just decided to give up on the interest) or I have to pay the interest on top of the winning bid amount?

Thank you!

@John Corey Thanks John for the reply. Its REO property that is being auctioned off online, you suggest doing full title search and have my title company commit to grant me the warranty deed? once full title search came clean, they would do that??? Bank already clarified that it will only be special or quit claim deed.

I have Reo property would like to purchase. They can only provide quitclaim deed or special warranty deed.

Me as a buyer/flipper, would this be an issue to resale the property? Is this something I need to stay away? I will do full title search before closing by attorney of course.

Thanks guys always! Happy investing!!!

Lot has permitted for mobile home. So main building is mobile home and owner built two stick built home next to it unfinished and passed away. Two of those brand new buildings are illegal if someone lives in it.

Any thoughts on this situation?! Selling price is priced for just mobile home but it comes with two stick built houses in the lot however they are not permitted. Any possible way leverage this situation? Would extra house be air bnb? Does it still consider residential?