All Forum Posts by: Michael Junior

@Alvin Sylvain I hear you brother I don’t think I want to take the route either. But i glad I fully ubderstand the terminology. Thank you

I keep seeing Pre-forclosures on Zillow. How do I figure out who to contact. Or what do I pull ( in town hall ) to figure out who owns it? How does one acquire a pre-foreclosure..?

@Greg Miller Hey Greg I just want to reach out quick. I got inspections today and found out I may need to replace a gas water heater ( could run me $7k if I need to fully replace). I’m also a bit concerned because I’m doing FHA and need to live in the property. The property is fully leased at the moment. The back tenant wants to stay and sign a year lease. The front unit in which I want/need to live in is occupied by a young couple. No security deposit and paid late a few times on there rent. I’m just worried.. what happens if once I close these people won’t leave? This is my first deal and I’m starting to freak myself out. Am I getting in to deep for a first deal?

@Shawn M. It’s in Fairfield CT smack in the Middle of Fairfield U and Sacred Heart!

@Anthony Wick it will cash flow once I move out and rent both units, which is exactly what I plan on doing once the terms of my finances allow it. The time I’ll be living there I plan on upgrading minor cosmetics to increase the rent roll.

@Jorge Garcia very true I was just like damn all these guys getting deals for 20% lower than market? But if it works it works

@Corby Goade thanks man. That’s all I needed !!

@Bob Okenwa yeah I guess if the numbers work. And deal is a deal.. And I mean it’s my first investment until now I didn’t know it would be more beneficial to just do a conventional loan. I’ll speak to my lender tomorrow! Thank you

@Greg Miller I hope to be out in a year on the hunt for another already !!

@Greg Miller appreciate the response. Thanks for putting in that prospective.