All Forum Posts by: LaDerrick Langham

@Aaron Curley Thanks, that helps never thought about an addition.

@Juan Jackson from last year tax records.

@Pamela Brady A house around the corner recently sold for $30k and it was a 3/2 1590 sqft. After renovations, it may be worth $35k-$45k.

Not sure if this is the place to ask this question, if not I apologize. My mom passed in November and her house was left to me and my siblings it's 5 of us. I live in Atlanta, GA, one of my brothers live in Baton Rouge, LA, my two brother's and sister live in Alabama which is where the house is located. It's a mortgage on the house ($450 a month) and the home needs about $25,000 worth of work. My sister pays the mortgage but can't get a loan to do a remodel. Me and three of my brothers have mortgages and my other brother is no help at all. My question is, is it a way to get another loan($55,000: Pay off current loan: $30,000 and Remodel: $25,000) not necessary from a bank maybe a private lender? The house is worth only $30k. I've talked to some people who said that with the remodel we can possibly rent it out as section 8 and get $700 a month (it's a 3/1). Any suggestions are helpful, and if I'm in the wrong section I apologize.

Thank you all for your response.

If you have a duplex and occupying one side and renting the other, should you require the tenant to carry renters insurance?

Thanks Steve, that helps, just making sure I'm not out here doing something illegal. 

For the past 3 months, I've been doing research on Real Estate Investment and Bigger Pockets has been a blessing with all the knowledge they provide. I've read about wholesaling and I think that is the avenue I will start with, my goal is to rent and flip. I came across an article about real estate bird dog, it sounds like wholesaling, but as I read more it also sounds illegal, can someone advise me on this. Thanks in Advance!