All Forum Posts by: Linda Wright

@Alec P. Have you tried filter easy? This is a filter program that sends filters to the tenants

Hi Cody, I'm planning on holding and renting out for the long term. 

Investment Info:

Single-family residence buy & hold investment in Lutz.

Purchase price: $80,000
Cash invested: $1

This was an owner finance with $0 down and 6% interest. I made sure we did a real closing with a title company. This house was in desperate need of rehab. People told me I paid too much. I put in $40k, some of my own cash and some with credit cards. I rented it out at first for $1295 and now it is rented for $1495 and is worth $250,000. I cash flow about $500 a month.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $210,000
Sale price: $350,000

This was purchased in the height with partner and they were supposed to be the money end. They fell behind and it almost got foreclosed, however, I took over and did a loan mod which was a lot of work and I almost quit but did not. In the end it all worked out.

What made you interested in investing in this type of deal?

Good Location

How did you find this deal and how did you negotiate it?

Bought off of MLS

How did you finance this deal?

Conventional

How did you add value to the deal?

New Roof and newer a/c

Lessons learned? Challenges?

Don't Give Up

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No

Thank you Wayne, they have a 7 year wait. I can do FHA after 3 years but would like to get better loans if ossible sooner. Thank you.

.

I had a foreclosure 4 years ago. Is there any way to purchase an investment property to be a rental or any one that would lend for this? I have a 750 credit score and have 2 properties that have excellent payment history. Do hard money lenders do this or any lender for that matter? Not asking for a specific lender, just want to find out if it can be done.  Thank you in advance.