All Forum Posts by: Patrick G.

Ummm... What?

So if there is a 'business' that hooks you up with a cash buyer, then it is ethical, but if it is a 'wholesaler' than it is unethical?

Everyone should know that wholesalers give you a low price for a fast closing. I'm sure some of them are unethical. However there is a time and a place for people who need fast money.

Also consider things from the cash buyers end. If you had $50k to invest in a property, would you want to sort through hundreds if not thousands of craigslist spam postings and go see dozens of completely overpriced run down houses? A good wholesaler offers them a legitimate deal. If the wholesaler is giving honest comps and knowledgeable repair estimates. Some buyers may enjoy the shopping experience and want to squeeze every bit of value for their dollar out of their house. But I suspect most do not.

Thanks for the heads up.
I'm going to try to make it.

Wade,
Thank you for posting your story. It helps solidfy in my mind, that I am doing the right thing for my family by taking it slow and more closesly following Dave Ramsey's investment advice. (I should note, that I am not following it to a Tee)

Yeah, so I set up "Baltimore" to be my keyword, but every time it comes up, it's a thread about setting up keywords.

Please be advised that this is not proper advice, and probably not recommended for health reasons, but if the house is empty you should be fine.

Dilute bleach into a spray bottle, spray the mold a couple times a day if possible for 3-5 days. Then paint. Kilz is good stuff, but won't necessary cure mold.

Do you know how the moisture got into the closet?

I love used appliance. You can find some great deals on craigslist. So far I have only purchased washer and dryers. 3 washers, 4 dryers.

A lot of appliance repairs are actually really simple. I diagnosed and repaired a broken dryer of mine from youtube videos one time. Cost me under $10. However you can also find great appliance repair men on craigslist who won't gouge you.

Tom, I know it's not the answer you wanna hear, but I would do the following:
1) get on a super tight budget
2) Pay off all your consumer debt
3) save money
4) purchase an inter-city row home or rural mobile home.

That is not popular advice here, I'm certain I'm in the minority. I'm currently on step number 3 working on step number 4. I paid off over $50k of consumer debt in 4 years. It was very much worth it.

Right now it is really hard to get 100% financing. Almost impossible. Even if you scraped together 3% to put down on a house, It's going to be tough to get into a rental that cash flows. Multiply that by the fact that without paying off your consumer debt, you are not going to have the financial margin you need to handle the things that 'pop up'. Multiply that by the fact that if you don't put 20% down you will be paying PMI or MPI, which is the equivalent of flushing money down the toilet only to clog your septic system.

I would be worried about a really slow drip. If your certain there is no leak, then just put a container of damp-rid in the back of the cabinet.

It definitely won't hurt to attend the auction, and bid a nice safe low number.

When I was 18 I delivered a piece of carpet to this Bay-front condo here in Maryland. I went out with another kid my age and we commented on how nice the new condos were to a neighbor, He mentioned the price, which seemed insanely high to use for a condo, and he looked at us and said "Boys, you can't manufacture the water." For some reason that has always stuck with me. Plus I would really like a lake house.

We can just start a REI club and meet in the lobby of room one!