All Forum Posts by: Jon Huber

@Rachael Shad   I asked this exact question, and they answered with an #AskBP Podcast answer:

https://www.biggerpockets.com/renewsblog/2015/06/1...

Currently, your cash in your savings is making you -$375. I would pay off the HELOC until you have a need for it. You can always have access to it as if it were cash.

@John Vietmeyer My experience with HOAs that have no reserves are that they will require a "special assessment" for every project. I currently have property that has had 3 assessments outside of the regular HOA payment in 3 years. Very frustrating... and we are looking to make changes within the board.

@ShaTerrica Hyder  There are no bad questions when starting out. Not asking questions would be the dumb thing. As to the situation, have you spoken with the seller about the options? Are they looking for top dollar? They may not be open to a sub2 option. Also, would this be a purchase for you or for another investor? That would be my deciding factor. If it is for someone else, a clean wholesale transaction would work nicely. Sellers may not be open to sub2 with someone they don't know.

@Trista Fenner 

  www.city-data.com   

This is an awesome resource if you're a data junkie. It will probably give you more than you are looking for, but will also show you data trends you may not have considered. Good luck!

There are hundreds. But if you'd like one, ListSource seems to be a popular.

http://www.listsource.com/quick-lists/absentee-own...

You may want to try Craigslist or Angieslist. I don't know of too many contractors browsing the forums for work. I am sure you can get a contractor or estimates there. Good luck!

@Bret Blackburn  You are doing the numbers using the asking price. If the number you are interested in is 8-10% less than asking... then offer 10-12% less of asking, and then settle on 8%. Regardless, it seems like a discount to get an extra lot for only 8-10% more than a purchase of one lot.  

@Renata Cerveny  Here is a thread started a while back that has contributions from a lot of people. You may find some interesting sources there.

https://www.biggerpockets.com/forums/80/topics/149...

Excellent resource. The trends look like people are moving form the colder states to the shore areas of the warmer states. This could be attributed to the baby boomers turning to snowbirds, and retiring in the warmer areas. Glad to know my market of SoFla is on the rise... although, due to the lack of good deals, it's pretty much common knowledge down here. Either way, good stuff.

TD Bank will do up to 75% on an investment property.

https://www.tdbank.com/personal/home_equity_line_d...