All Forum Posts by: Nick Watkins

drew Condon state farm. He owns rentals.

She is very old and the kids want nothing to do with it. I did good marketing they first valued it at 400 because it has the 7 acers but....its not developed.

I found an 8 plex with 7 extra acers approved for 70 more units. They were asking $400k and I casually offered $240k and was told they would work with that number. I talked to a few commercial loan officers, and they want 20% down so 50k but the owner is willing to hold back part or all of the loan and I have heard of low or no money down and my ? Is if they hold the loan do i still get tital? Can i refi out of it because they dont wish to hold it for a long time. If you have ?s that i have not answered please let me know.

Thanks,

I found an 8 plex with 7 extra acers approved for 70 more units. They were asking $400k and I casually offered $240k and was told they would work with that number. I talked to a few commercial loan officers, and they want 20% down so 50k but the owner is willing to hold back part or all of the loan and I have heard of low or no money down and my ? Is if they hold the loan do i still get tital? Can i refi out of it because they dont wish to hold it for a long time. If you have ?s that i have not answered please let me know.

Thanks,

Welcome,

MI is a great place for real estate, have you been to any REI meetings?

CONGRATS,

I would find someone in your area who does what you want to do and work/study them. You are MILES ahead of most people just by thinking about it now...

Nick

Welcome, 

When you have questions jump on here and ask away.

I would start by reading the UBG here on biggerpockets. 

You answered the ? scared to ask!!!    You could always get a great deal lined up and post it on here and offer to people, this will help you grow a relationship with a person.

hope this helps,

Nick

My suggestion is to make sure the numbers work for you so the times you don't have a renter it doesn't hurt your pockets.

start a direct mail campaign.