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All Forum Posts by: Kevin L.

Kevin L. has started 12 posts and replied 35 times.

Post: How to check applicant's credit?

Kevin L.Posted
  • Residential Real Estate Agent
  • Ashburn, VA
  • Posts 35
  • Votes 4

Thank you! That's very helpful! :)

Post: How to check applicant's credit?

Kevin L.Posted
  • Residential Real Estate Agent
  • Ashburn, VA
  • Posts 35
  • Votes 4

Just wondering how to check applicant's credit score? In the application, they filled out their SSN and previous address.

I'm wondering if it is legal for me to check on my own on these three website? or it has to go through broker? (I sure already have their consent signature).

Thank you!

Post: write your own offer to save 3% commission

Kevin L.Posted
  • Residential Real Estate Agent
  • Ashburn, VA
  • Posts 35
  • Votes 4

Get a license yourself. :-)

Its not hard at all.

Post: Investing in a property with 25% fire damage?

Kevin L.Posted
  • Residential Real Estate Agent
  • Ashburn, VA
  • Posts 35
  • Votes 4

Well, it may sounds doable, however, my suggestion is "if you aren't familiar with what you will be doing, find something you are".

You may have to deal a lot of unknown surprises (govenment regulation... ...) on the road.

Post: What am i doing wrong

Kevin L.Posted
  • Residential Real Estate Agent
  • Ashburn, VA
  • Posts 35
  • Votes 4

I think your chances of getting a decent loan if small, if there is any.

Your credit score isn't high, and the loan/value ratio is too high. You have so many outstanding debt. I believe the broker thinks about the same thing. Since there is hardly any chance for them to make the loan (to make money), I don't think they would be that interested in calling you back.

Post: How do you guys find bargain when looking for real estate investment property?

Kevin L.Posted
  • Residential Real Estate Agent
  • Ashburn, VA
  • Posts 35
  • Votes 4

Thank you!

Post: How do you guys find bargain when looking for real estate investment property?

Kevin L.Posted
  • Residential Real Estate Agent
  • Ashburn, VA
  • Posts 35
  • Votes 4
Originally posted by @Richard C.:

I buy off the MLS. Seriously. And use an agent, too.

I make offers on high DOM houses, in the winter, for cash.  That's good for a 15-20 discount off of asking price, with no effort or money expended on things like direct mail or vetting stuff from wholesalers.

What is "DOM" houses?

Post: How do you guys find bargain when looking for real estate investment property?

Kevin L.Posted
  • Residential Real Estate Agent
  • Ashburn, VA
  • Posts 35
  • Votes 4
Originally posted by @Account Closed:

Find an expert mentor in your market who can help you find deals or feed you deals. Impossible you say? I do it right now in my market and my mentor charges me nothing. I would reckon you can find a mentor in your area right here on BP. 

Thanks, Joe,

I'm too new here. Could you please tell me how to find a mentor here?

Thank you!

Post: Does this really happen? or its just a fairy tale?

Kevin L.Posted
  • Residential Real Estate Agent
  • Ashburn, VA
  • Posts 35
  • Votes 4

Thanks, I guess it could happen, probably very regional though.

Post: Does this really happen? or its just a fairy tale?

Kevin L.Posted
  • Residential Real Estate Agent
  • Ashburn, VA
  • Posts 35
  • Votes 4

http://www.creonline.com/wholesaling-real-estate-step-by-step.html

A $100k house and seller would take $55k for it? I would assume if it worth $100k, and the owner asks $80k, people probably already lined up at the door to present offer.

Does this really happen? Anywhere in the country?