All Forum Posts by: Joe Rosenberry

@Peter Roehrich. A home style mortgage? Never heard of it. How does that work?

@Wayne Brooks

Thanks, i didn't realize you had to occupy for a year. That changes things

Was thinking of the 203k loan recently, and was curious if that would be a good way to start out. Starting small of course with a small flip with minimal work. Good idea/bad idea? Anyone do this before and fail?

@Joseph ODonovan there is. I bought a condo 6 years ago in an affordable housing program, little studio, was great for me. Then i met my now wife, our plan was to sell after the wedding, buy a town house and then start a family.. ffw, wife got pregnant two months after we married, took me a year and a half to sell my condo and wound up making very little on it.. in then last two years, the place we wanted to move to now has the same town houses that we once were able to afford, just out of reach.. single family homes? Forget it.. in our price range they are over priced unlivible houses.. so we moved in with my inlaws, until i find something for us... living in central NJ, its near impossible.. above 300k, there are some ok houses, and above 400k, there are decent houses.. but we can't afford neither.. so yes, in this area, there sure is a shortage of affordable housing.

@Renay Reese. Concealed is always best

Money.

Praying.

So my wife an I are looking for a house, we both grew up in the same town, and her parents still live there. Since we have a 9 month old it would be helpful for us to be close, we found a house 2 minutes from them, but its an reo house that you have to put an offer on through a website.. I noticed today that they lowered the price, now i knownthe house its nice and priced ok for a normal purchase, but still high for an investor.. does lowering the price indicate they aren't getting bids on it? And maybe i should just put an offer in and hope for the best? Or don't bother because an investor will win out with a cash offer?

@Mike Cumbie. I see what you're saying, and i can see that being an issue.. i knew the difficulty coming into this.. I never expected a hand out so to speak, but the training was expected as thats what i was told when i signed up.

Thanks everyone, i think you helped me make a decision.

@Grant Rothenburger. True. Structure i have, knowledge i don't.. ive asked a few times to be sent out with other agents so i can learn hands on because thats how i learn the beat.. im not much of a book person.. and i get the "im confident youll be fine" well thanks for the confidence, but I'm not learning a damn thing your way.. need to learn my way.. i have a friend who says her broker is good, helped her out a lot.. im going to call him, just don't want to ask the wrong questions and end up in the exact same spot..

Thanks Shawn, i knew it wasn't going to be easy, nothing ever is.. but im getting nothing from my broker except a monthly bill. Lol