All Forum Posts by: Account Closed

@Mathew A. "The property has been vacant since February. I have a property manager" "I'm worried about spending thousands of dollars"

This is the definition of "cognitive dissonance". 

Grab a nice glass of wine and ask yourself "do I **really** want to be a landlord.

@Braxton Boone If you come to buy one of my houses and you flash a Pre-qualification" at me I'll yawn. I probably won't bother to meet with you.

If you have a "pre-approval" I'll ask what time you want to meet and I will shine your shoes for you when we get there.

@Account Closed I am biased of course. I would use the money to find other cash flowing properties.

@Dennis Johnson A 13 sq foot house is a little small. Perhaps you want to rethink this.

@Marjorie Medina-Cook You need to talk to an attorney to protect your interests especially if the property is included in an estate. If you sign, you are giving her the property and $15,000. A Quit Claim Deed only says the signer claims no interest in the property. It does not mean that others don't have an interest and it does not mean that the person signing the Quit Claim Deed ever had any interest. It invalidates title insurance and causes a problem when the next person wants to sell. You want her to give you a Warranty Deed. But, you can't even do that if it never cleared probate. Big issues.

@Karl B. "Where the Heck Should I Move To?"      Oompa Loompa land, of course.

@Phil Richards

Decide which kind of investor you want to be (SFR, Commercial, Land, Tax Liens, HML, Multi-Family, Notes, Fix & Flip, Buy & Hold, "Subject To", apartments, duplexes, assisted living, REOs, Foreclosures, Short Sales), etc.. Decide how much money you have access to, & the zip codes, city or state you want to focus on. That will determine the next step. Outline where you want to be in five years. Put it all in writing. Start working your plan. There are plenty of people around to help you each step of the way. Drop me a line if I can help.

@Chris Mason lol . Obviously you've been at lending for a while and are understating what a broker does. I get it (what you are saying), but most won't. When I was a loan officer, I don't think a single person could have done it through an app. It is detailed, stressful, befuddling and frustrating to most people. 

Most people couldn't care less about VOMs, VOEs, flood certs, title, escrow, underwriting, FICO scores, basis points, 1003s, appraisals, closing, income statements, bank statements, tax returns, end of month, comps, duplicates and triplicates and re-verifications before closing, VA, FHA, Conventional, points, locks, interest rates, liens, judgments, DTI ratios, font end, back end, clearing title, HUD statements, wire transfers and all the rest. They have no clue and they don't want to know about it.

Mortgage brokers are here to stay until they start giving the money away.

@Steve Strickland The only thing I have going in the metro plex is a 25 Unit apartment that we're still putting together. I've been looking for larger units but haven't found any yet.

@Carl Gorson  You should poke around BP for a few days before signing up a mentor. You need to decide what interests you first. 

Decide which kind of investor you want to be (SFR, Commercial, Land, Tax Liens, HML, Multi-Family, Notes, Fix & Flip, Buy & Hold, "Subject To", apartments, duplexes, assisted living, REOs, Foreclosures, Short Sales), etc.. Decide how much money you have access to, & the zip codes, city or state you want to focus on. That will determine the next step. Outline where you want to be in five years. Put it all in writing. Start working your plan. There are plenty of people around to help you each step of the way.