All Forum Posts by: Justin Tahilramani

@Jenny Cross

If you have the experience - why worry about going to a seminar that is geared towards hooking people into the idea of RE investing? It sounds like you have the right background/experience - why not jump in?

@Brett Russell

@Brett Russell Brett- I was tracing the 3% fee, but that would only come out to around $900, which I did not think was too bad given the alternatives. Im really not too concerned with my credit being slightly affected.

@Patrick L. - Patrick - My understanding is that with balance transfers you can request that the CC company send you checks. Those checks can be cashed and used for anything that you want. Am I missing something here?

@Andy Collins - Andy, we already have 6 properties and we are running out of traditional ways to finance properties. I suppose we could look at hard money/private lending, but I just hate to pay sugh high interest rates and points. If a $7500 repair came up we would be able to get by.

Touching-up an exterior is going to be hard. As others have already stated, paint fades over time, especially when exposed to sun, rain, etc. Sometimes you can get lucky matching interior paint colors, but this is less likely when you are dealing with exterior aplications. Your best bet is to simply wait until it's time to re-paint.

Justin

Hello,

Just looking for a little advice. I have an REO that I am considering making an offer on. I feel confident about the numbers, but I wanted some advice on using a 0% APR CC Balance Transfer to float the purchase for about 15-18 months. The purchase price of the house is right around $35,000. I have very good credit and the income necessary to pay off the balance before the 0% runs out. What are your thoughts on venturing down this road? My wife and I both have VERY stable/well paying jobs. There is zero chance of either of us losing jobs/incomes in the next 2-3 years.

Thanks in advance!

Justin

@Matt Schelberg - sounds like your only option is to go ahead and fix or replace the units. You can get VERY basic washer/dryer from Best Buy for about $250/each. I would recommend that you purchase the 5yr protection plan. Before anyone flames me for saying that - I used to work a Best Buy - and I know which warranties are worth buying and which ones are a waste.

Just My 2 Cents...

The simple answer is yes, it will lower the resale value of your house. OTOH - you may recoup some value by improving the master bderoom/bath. It certainly will not be an even exchange, but you will likely enjoy it more since you will be living in the property.

You should be careful with switching out water heaters when they are functioning properly. Everytime you change them out you will be required to bring the water heater installation up to code. This can often add hundreds of dollars to the installation cost. Why spend money if it is functioning properly? I agree with Ritch B - it may last 15 - 20 years without issue....

@Sreenath Gangula

Check out:

www.hudhomestore.com

www.vrmco.com - VA foreclosures

Two great resources for finding good deals.