All Forum Posts by: Anthony Gayden
Anthony Gayden has started 77 posts and replied 1981 times.
Post: How do I deal w/ city shutting of my water for prev owners bill?
- Rental Property Investor
- Omaha, NE
- Posts 2,030
- Votes 3,310
Originally posted by @Kenneth Garrett:
The city does not need to file a lien for the water or some other services owed. The title search will not reveal any of these city items. When I buy a property as part of my due diligence I submit a FOIA (Freedom of Information Act) request. It’s free and provides as much Information as you request. This way there are no surprises. I ask for the following every time. The request can vary depending on the property.
Are there any code violations on the property?
Are then any outstanding water bills owed to city?
Are there any liens, judgements, fines or other payments owed to city?
Provide a copy of the water billing for the past 12 months?
Are there any zoning violations on the property?
A history of all permits and inspections issued and conducted by the city?
Are there any open permits?
A copy of the plat of survey for the property?
This Information can save you time and headaches and should always be part of your due diligence.
Don't FOIA requests in general take a very long time to obtain? That wouldn't be very useful in a closing where you don't have much time.
Post: Insurance Dilemma- being cancelled due to fire
- Rental Property Investor
- Omaha, NE
- Posts 2,030
- Votes 3,310
To those who work in the insurance industry I am curious why the rates are so much higher?
Post: 25% down on MLS Property
- Rental Property Investor
- Omaha, NE
- Posts 2,030
- Votes 3,310
Originally posted by @Robins Dorvil:
@Anthony Gayden that’s awesome. You’re doing 20% down investor loan with a local lender?
Yes, and they actually have deals for 15% down as well with PMI, but this is only for single family homes.
Post: 25% down on MLS Property
- Rental Property Investor
- Omaha, NE
- Posts 2,030
- Votes 3,310
I buy primarily from the MLS. I usually only put 20% down on single family though. As a landlord it is nice buying rent ready homes because dealing with contractors and doing repairs before you can rent a house is quite expensive and can take a long time.
It's nice being able to buy a house and put it up for rent the next day.
Post: Wholesale contracts and source for finding sellers
- Rental Property Investor
- Omaha, NE
- Posts 2,030
- Votes 3,310
Originally posted by @Jacob Skeen:
@Josh Nix hey there. I’ve been looking for some contracts to use here In Nebraska for wholesaling. Would you mind sending me the contract as well?
Bigger Pockets actually has Nebraska purchase contracts if you are a Pro member. I use the general Nebraska Purchase contract. No special contract is needed.
Post: Wholesale contracts and source for finding sellers
- Rental Property Investor
- Omaha, NE
- Posts 2,030
- Votes 3,310
Originally posted by @Garrett Campbell:
Hi guys,
I have been researching wholesaling real estate for a while but am having trouble getting my foot in the door. I want to make sure i have the right contracts to do assignments and such in the state of nebraska, and also how i may find a source for sellers as after much research i run into the problem that alot of people have agents or something.
Any tips on the omaha area and for getting connected?
Am currently a senior in college and would love to get into the field and possibly work with some of you.
Thank you!
I have played with direct mail here in the Omaha area and had pretty decent results. That is probably the easiest way to find sellers.
I bought a list from List Source and sent three sets of postcard mailers out with about 300 postcards in each mailing. I had a response rate of about 5%.
Post: I like sfh's more then apartments. Am i crazy?
- Rental Property Investor
- Omaha, NE
- Posts 2,030
- Votes 3,310
@Joshua D.
I agree for smaller landlords. I personally have found similar in my area. I stopped looking for small multi family and focus on single family now.
Post: $5,200 to save 0.25%?
- Rental Property Investor
- Omaha, NE
- Posts 2,030
- Votes 3,310
Originally posted by @Joel Johnson:
Find a different lender? Can't imagine having to pay a fee to become a member of a credit union, and that rate is competitive but doesn't seem special. I would definitely do some shopping on the rate rather than pay to become a member. If for some reason you can't go get the mortgage through someone else, you break even in 15 months, so as long as you stay in the home that long I would do it. Again though, best idea, find a different mortgage lender.
I think you are misunderstanding the OP. It appears that the wife has $5200 in debt that she owes the credit union. That isn't a membership fee. The credit union will not allow them to be a member until the wife pays her debt.
It is likely their credit is in extremely bad shape. They need to pay their debt regardless.
Post: What is your take on undocumented folks as investors?
- Rental Property Investor
- Omaha, NE
- Posts 2,030
- Votes 3,310
Originally posted by @Alice Ward:
I speak six languages, Portuguese being one I am very fluent. I get approached by undocumented Brazilians all the time trying to find a way to invest. What’s your take on it? Is it possible? Are they simply processed as foreigners? What about income verification and documentation if they have been gone from their homeland for years?
Thank you!
Bad idea. My suggestion is that they invest their money in a good immigration attorney and focus on getting legal status.
Post: Looking to invest in (more) real estate!
- Rental Property Investor
- Omaha, NE
- Posts 2,030
- Votes 3,310
@Account Closed It still to this day blows my mind how much real estate a person can buy with relative ease.
You have a 3 family in Boston, so I am going to guess that you have made a little (lot) in appreciation over the last 3 years and that you could use a HELOC to tap into that equity. That is what I would do.