All Forum Posts by: Paul Bowers

If they can't afford $900 per month they can't afford $850.  If your tenants are that tight on rent you may want to tighten up your screening criteria.

There could be may different reasons.  Speed could be one, they may be looking for a quick cash buyer and be willing to trade time for money.  Trying to save the commissions on the sale.  Their home may be in less than "normal marketable" condition and they are unwilling or financially unable to make repairs.  Some feel they can control the transaction better if they are working directly with the buyers and eliminating the middlemen.

I also noticed in the listing it says "won't last" and that it can't be seen before 07/01.  I'd probably get that date out of there.

@Jim McCabe Congrats on the first on.  I'm currently in the middle of my first one as well.  Do you have any pictures of the before and after you could share?

 Or just call 1-800-THE-BANK.  In NY you can put the VIN into the DMV website and it will list who the lienholder is.  Not sure about other states.

The truck belongs to the bank.  Chances are its upside down.  Call the bank and tell them where it's at, they'll come repo it. (fill the bed with junk first and it's like a free dumpster rental!!)

Look at the top of your screen, click the tab "Tools".

You're welcome.

Seems like a simple math problem to me.  If you flip one in 6 months and make $40K how many can you flip in the same period of time and how much would the labor cost?  If you drop to $20K per unit but can do 3 units you win. If you drop to $15K per and can only do two, keep going the way you are.

@Tom S. In this situation @Shaun R. is looking to fix and flip so I think the HML is probably the right answer. As far as pre-qualifying for the hard money loan maybe you could just take a "potential" deal and input it on the website and see what type of terms come back. Pick something off the MLS, run the numbers as you would normally and input that. Even if you have no intention of that being the property it will start the process and give you an idea how each lender would treat that scenario.

@Dashjay Carlton, the Bigger Pockets Ultimate Beginners Guide is a great (and free) tool to start with. 

 https://www.biggerpockets.com/real-estate-investin...