All Forum Posts by: Sarah Jones

i dont think the 2% rule works in los angeles... how is it possible to find a $2000 per month rent place for $100,000 this just does not seem possible... could anyone explain whether the 2% rule or 50% rule works in los angeles or what rule i should use instead?

read another post understand the 2% nevermind thanks.

what exactly is the 2% rule? what is the forumula .. how did you come up with 40k? does it work most of the time.. will banks accept that offer which is so low?

1. I am trying to buy a house and a lot of the house i find are "The sellers of this home have accepted an offer that is now pending or under contract." is it worth it to submit a backup offer? Anyone actually wins with a backup offer? do banks really use backup offers any good or do they relist the property and try to get more offer if the first offer doesnt go through .

2. one of the house i am trying to buy is a probate auction any thoughts on this? Anything i should watch out for ? anything good or bad?

1. that is pretty crazy if the bank pulls back 3 days before closing... are you ever afraid of them keeping your earnest money deposit or your actual deposit? How do you protect yourself from them taking your earnest money deposit or your deposit?

2. on a 300k house 3% earnest money is really high... do you really need to put 3% or can you just put $3k isn't that good enough? i would be afraid to lose 3% of 9k..

3. so i guess its all base on luck because you can submit an offer and if no one else beats you to it.. and they are willing to accept than you are good.. so you just have to find the right house and submit the offer and hope that they will except it.. i am still very amaze at the 2007 house you got for 55k ...

1. Jim do you use any other site besides realtor.com?
2. for some properties i cant find out how much the loan amount owed is i think that is the most important becuase if they owe 90k than you can offer 50k.. i tried looking at refdin but for many properties i cant seem to find how much loan is left.. is there a web site that you can go check how much loan is left?

Couldn't find it .. anyone know of online web site where you can get public record for houses for the US or for los angeles california?

1. How do you get the public records... is there a web site that you can go to and enter in the house to get the public record for the house?

2. does public record cost money? DO you ahve to pay to get the public record of every house you are looking at?

how do you get all that information from a homepath listing or web site listing.. where would you get all that information form?

One of the person on bigger pockets found a house that was like 170k and had 90k left in loan and he made an offer of 55k and the bank accepted the 55k short sale... i am trying to do something similar, how can you tell how much loan is left on the house so you know how much to offer?