All Forum Posts by: Kyle Penland

Chances are you encounter their biggest problems every day. Ask what their biggest daily challenges are and the. Tell them what experience you have in solving it! Relax! Take a breath! You will do GREAT!

If I were in your shoes, I'd buy a multi, fha, and live there for a year and do it over again. Good luck whatever you do! The above is my "wish I would have".

First off congrats for making a move and doing something!  My questions are as follows:

Are you happy with the net...If you are it doesn't matter what anyone else thinks as long as you have figured out your net accurately.  

Will you manage the property yourself?  Even if you are plan for PM which is another 10%.  If you grow your business you may want to do that...If so that brings your net down to 110 a month.

If section 8, that tells me maybe not a top neighborhood...Plan for having to make some cleanup/changes during tenants...I am a sub 30 guy...Most of my cleanups are 1-2k...Which would wipe your profits out...Again I said most.  For some its replacing carpets, repainting, replacing odd items etc....

Finally, I would not do this deal...Its too much money to me for too little rent.  I just bought a home and rehabbed it, have 25k in it and will get 650 a month for it.  I have two others that I paid 28k for both and get 750 a month...With that said that's just my opinion.

Good luck whatever you decide to do.

Certainly...It never hurts to ask the owners if they are willing?  Maybe even do a lease to own type plan also so you can get your credit back and buy the home at the end of the lease.  Good Luck!

Its never too late!  Markets will rise and fall and there will be good deals all around you if you look for them!  I'm not sure what you mean by excel and stand out?  Your work inside a home will speak for itself if you are talking about flipping homes?  You can't compete with a cash buyer...Well you can if you are willing to go way over asking sometimes...You need to set a plan, what do you want to do.  Flip or Buy and Hold or Wholesale etc...Then develop a strategy of how to get there.  Its not free, it takes time, work and dedication.  Get a second job, save every dime...You will get there if you make a plan and stick to it!  Also you can work with people who are doing it everyday...Find a mentor or a company and offer to help free of charge to learn the biz.  Just some suggestions.

contact the owner...I'm not sure but am guessing since said property is in MI that is where the laws will govern...  I'm not sure what you mean by structure the deal?  Since its 4k behind on taxes you will need to pay those and doubtful they will let it go for that...You never know unless you try!  Good luck!

They may possibly go owner financing, but doubtful they will owner finance with zero down since they have realtor commissions. It doesn't hurt to try, but don't get your feelings hurt if they say no. Why are you trying owner financing route instead of FHA 3% down?

Find a mentor and work for them and learn the biz.

Go get a professional credit rebuilder to help! I wouldn't pay off the car personally, but I'm not an expert either

I used my fitness pal and have lost 30 lbs to date! Good luck!