All Forum Posts by: Gil N.

My wife and I buy and rehab doing most of the work ourselves. We just started a rehab when our realtor said she had a fellow realtor reach out to her asking if she knew of any rentals in the area. Ours was a 2 bed 1 1/2 bath in a great neighborhood.  She asked if we were ok with the fellow realtor showing the house to her client and that it was ok that it wasn’t done. We said sure but they must know it won’t be ready for about 4 months. The realtor comes by with this young woman and she is estatic about the place and location. We told her what we were planning. During conversation she told us she was section 8 and received disability for an OCD condition her occupation I forgot but I remember it not being  very stable. Also that section 8 would have to come by to approve of the place. Then she says she has to small kids and was not married, no big deal but not ideal. We told her sure we can consider her but she must fill out an application and that we do background and credit check’s through our realtor. She comes by one day on the sneak while we were working asking more questions and checking on the place. I said have you filled out the application? I reminded her we need to go through our realtor. She came by a third time no realtor no application. Basically she was trying to ditch her realtor and ours to save fees I guess. I think to myself  if she was able to scheme a realtor to find a place then try to skip out then what would she be capable of with us?!  Btw she was very loud yelling out front to her friends in the car! Yikes we have neighbors and that had me worried! No she did not get the place. 

No sir what I mean by cashing out is doing a cashout refinance in which case I don’t sell the property and have cash for the next deal. Thank you for input. 

Hello bp just thinking of cashing out on a stable rental I have (5 years) it’s fully paid no mortgage. I’m seeking advice. My tenants have been able to pay the rent through COVID situation and I’m thinking of picking up the next single family but worried that once I do the COVID May get worse and tenants may have the excuse of not paying. Just wondering if other investors are still cashing out during this time or think waiting a bit longer is more safe thanks 

Thick skin? Her question was simple. Yes or no. In this case no.

I agree with her after so many nonsense replies from a single person you may not want to see or heed advice from them. Such is life. 

Hey jimmy k just read your reply. I made a Mistake posting here get over it. Your a pompous jackass. There are better ways of pointing this out. The world revolves around jimmy

You gotta take the good with the bad I guess. I thought BP was a community of like minded people trying to help each-other especially beginners. Im sure you have helped along the way ( i hope) but i feel bad for someone who asked you for anything since your dribble ridden advice is so important   Ans in response to your future garbage FUPOS

@Cody Furman

We have had similar situations

What we did was have a day on a Saturday or Sunday and had somewhat of an open house

We funneled everyone into a day. We set the the time and allowed all the realtors with there clients come on the one day. If they couldn't make it so be it but we controlled the situation

Much better than driving out every time and having no shows wasting your time etc.

also helps with people that are serious knowing we had other possible tenants

I'm the past we would set up individual appointments and had many no shows etc

And this was with realtors setting up the appointments. We always go thru realtors and never put an ad or sign out front for different reasons. Good luck

Don't understand what you mean. So WTF

Help

I'm in a situation. A house I was interested in as a rental was pending then back on market then pending just as quick. Now it back on market.

However I'm in a short sale deal right now. My wife and I have a cash offer on this short sale that was accepted. Short sale was a divorce etc

Husband signed bit ex wife still hasn't. We signed and have earnest deposit of 5k. As we wait this other home is back on for 189k. I know area very well and have two other sfr

Updated and rented out for past 5 years at 2000 and 2100 per month.

My goal is five homes in this area

I need to jump on this,house is ready to rent very minor items to take care of.

Problem I'm refinancing my primary for better

Rate and currently we are in a variable rate we need to get out of. So our cash is Tide up so to speak. At same time as refinancing I'm putting a heloc in place of 130. Which should close within week or two at most. Didn't want to cash out on primary as we eventually want to pay off. We have 106 left on primary and it was appraised at 300k just 2 weeks ago hence heloc

My credit is very good hovers at 800. But the inquiries are high at 5.

So does anyone know which way to go to snag this home that's back on market quick?

I'm thinking hard money temporarily but can't use any cash to put down at this time. Should I apply just to get an approval letter to place offer and start process by the time things come to cash i can use cash from short sale deal temporarily then put cash back when my heloc is in place.

I need a better place to fund this besides bank

Any suggestions. Has anyone been in this situation and used some funding institution that worked. Help. I will be calling some places like patch of land or Lima one etc to see if these people really can understand investors

Better than a bank.

Thanks in advance for any advice.

Oh so I should be all in for about 50k

After all expenses I should cash flow about 400 a month. So about a 9% cap

Gil.

 Eric hrlbock How do you get your deals off market?

Do you use mailers etc.