All Forum Posts by: Kay Bush

Should I send the signed contract back at least to show my interest and then write up a contract for the EMD before I send it?

Please help!

I found a property, made an offer, the seller agreed to the price and sent me a contract. What are my next steps before I'm legally obligated to buy the property? I don't want to send it back because I'm not sure what exactly I'm signing off on. But I don't want to lose the property either. I still want to check the plumbing out before I make a final decision. They are also asking for EMD. Will I get my deposit back?

Thanks in advance everyone!

Kay

Where can I find out if a property has any liens before I purchase it? I'm chasing my tail here. 

Rick,

I apologize for the confusion. 

What I meant to say is, when purchasing a property how do I find what liens are in the property, if any?

Where can I find lien records for Trenton NJ? I tried Mercer County records. I can't seem to find the proper website. I keep chasing my tail. What else should I look for when buying a property lien wise?

Hi Charles,

My day job is looking more and more like a dream job! It seems like flipping could really be a lot for a newbie. I wouldn't mind the FHA route, but there isn't any properties available in my price range that I'd even remotely enjoy living in for the next year.

Thanks everyone!

I've been going back and forth between mortgaging a property and buying a fixer upper. It seems as though the consensus is the FHA route. I'm having a hard time finding a lender that will finance a property under 75k. How easy or hard is it to get a foreclosure? Any suggestions? Also, why is everyone so afraid of the auctions? I thought what you bid you pay for and that's that. Are there hidden costs besides the possible rehab of the property? I know nothing about them so I'd like to learn what I can.

I'd like to ask you for some advice for first time investor. Quick run down. I'm looking in the Philadelphia area. I have about 10-15k cash to invest in my first property. I'd like to flip, but I would also like a rental property. Not sure which way I should go. I'm assuming I'd get a quicker return on a flip. Could I get a personal loan for about 20k to use to purchase my first property instead of using my money? I know another option would be to get an investment property by way of a mortgage which I know is 10-25% down. I'd like to get into real estate full time and generate enough income in the next year to live off of. Is this realistic? Any advice on my first property? Should I get a cheap one for 20k or take out a mortgage? I went to the last auction in Norristown and I had no clue what I was doing, but I left with a little more knowledge than I came with. I'd hate to make the wrong decision with my money. I apologize if I'm all over the place.

Best,
Kay

New to real estate. I'm looking for my first rental property. I'm not sure how to get where I want to be. Any tips will help!