All Forum Posts by: John Cervera

Wow, thank you everyone for your feedback. Greatly appreciated!

Hello y'all,

My parents own their home, and are in their mid 70's. I have a daughter with severe special needs, so me and my parents are trying to figure out a way to generate some income and stability for her long term future. My father and I have talked about doing some flipping, as he has decades of construction experience. At his age, and without a steady income, getting a mortgage or HELOC, seems like not a great idea. Here's my question:

Is there any way to get their home in my name, at a low cost, and allow me to turn around and get a Home equity loan or mortgage. Value is 400k ballpark

Thank you all for any help

John

Another one or two

Let's say I use a HELOC to purchase and rehab my first property, with plans to sell. If it does not sell fast enough, maybe i decide to rent it out. Would I then take a mortgage out on the property and pay off the HELOC, while renter's pay my mortgage? Is that an option?

I guess since I don't really thoroughly understand all the rules just yet, what I'm wondering is:

What are the options for cashing out/repaying and reusing funds from a HELOC to keep investing?

Sorry if its confusing

Thanks again

John

Hello all! I feel like every day I have more questions. Here are a few. Keeping in mind I have not yet landed my first deal

If I am going to buy from a wholesaler, and/or foreclosure should I still be using a buyers agent.

Would signing up(and paying for) foreclosure listing access here on bigger pockets be worthwhile for a brand new investor?

Any and all feedback very appreciated!

Thank you

John

OK, still working on getting to my first deal. I have been in contact with some folk, wholesalers and investors. I have been looking on realtor.com and movoto, and was wondering, should I be trying to identify a buyers agent for myself prior to contacting any of these selllers on the RE sites?

Thank you all for replying, and good advice!

Thank you everyone for feedback, much appreciated!

Thank you so much for your help! I'm going to begin talking to agents today!

My father and I are looking to get started doing some flips. Our starting out strategy, for now, is to find extremely low priced homes we may be able purchase and rennovate with mostly cash. Which puts our target home hopefully under 30k.

My question/concern is- will an agent even want to work with us to help us locate these deals? Any feedback greatly appreciated.

Hi!

What is  good way to determine if a market will support flips- how do I find info regarding retail homes for sale in my target area?

How many are available

How many have sold

How long did it take to sell

etc