All Forum Posts by: William Murrell

From what my lender said, iIf you can get them cashflowing so the bank sees that you know what you're doing, you can get a loan to wrap around them.  As in, 3 100k properties becomes 1 300k note and then you've essentially reset the counter.  Does that make sense?

I don't think they're guru-esque at all.  Everything you really need to know is accessed for free through the forum and the podcasts, and they just happen to sell two books if you're so inclined.  The same info in the books can be found on the forum, it's just in a condensed and easier to read format in the book.  For instance, if you are really interested in Flipping you could certainly go through all of J Scott's posts and all the forum activity on the topic and get the same info, totally for free.  

But if you want to read a condensed version without all of the intermediate side questions and "wow, thanks for posting" of the forum and just cut to the chase, you can buy the book and just get straight to the commentary free info.  Getting J to write a book, editing, and publishing all cost money and this is a business after all.  Hosting, web design, and paying his employees cost money too, so I personally don't object to paying a bit more to access some of the premium content.   Poke around a bit more to see how much is on the site and listen to each of the podcasts and then tell me you don't agree that even with the cost of a pro membership, the info here is worth it and then some.

Also, listen to the podcasts.  While you work out, drive to work, are bored at the house, etc. I recommend you listen to them and you will be blown away by how good the advice is.  The guy who wrote the above mentioned books, J Scott, was on at least two of them and he has great advice.  They talk about how they do what they do, what they will and won't do, and how to finance everything.  They also go over some basics like the "70% rule" and which things to look for and avoid.  I guarantee you will learn a ton of info from the podcasts and you'll have a fun time doing it.

Keep at it and don't get discouraged.  And as they say, "don't fall in love with the deal."  If you can't get it at the price you want, then let it go.  There's always another one.  

Let the cops/sheriff handle that.  They had a similar issue on some prime undeveloped land here in town, and that's what they did.  They'll show up and make them leave and then you don't have to worry with it.  I'd recommend you follow through with the "No Trespassing" signs too once they're gone.  Good luck!

To clarify, it would be more like securing traditional financing and paying the payments until 90 days and then selling afterward.  You could take that 90 days to do a flip, do a short term lease, live in it, whatever you want.  And on the 91st day, you can sell.  If it's too much hassle, keep your options open and look at all the deals that are out there.

Have you tried cash for keys?  It might not work, but it's worth a shot.  For instance "I'm not happy, you're not happy.  If I give you $500 (or whatever) will you move out and we can just both go our separate ways?"  Some people on the site have had good success with that.  As for collecting that past money, I don't think that will be worth the effort it would take to do it.  Let's say you get a judgment, that doesn't do you any good if she has no money.

Wow, great work!  Definitely a dramatic improvement.  I'm always trying to find a place where I could make a 3-1 into a 3-2 but I just haven't ever been able to find one with the right layout.   How much was the final cost for these improvements?

Be careful if you try to flip a Homepath house.  You can't sell it for more than 20% than you paid for it within 90 days.  Of course, if you take 91 days to flip you should be ok.

Gail is correct, there are two issues here: 1) Is there mold and 2) Is it "toxic" Just because there's mold does not necessarily imply that it is "toxic."  Neither does having a headache, a stuffy nose, etc.  These symptoms can also be just allergic reactions, as you mentioned, and not necessarily some sign of a serious illness created by mold.  I am also allergic to mold, and have the same symptoms.  That said, you still sound like you might have a problem.  I would recommend you try to come to an amicable agreement with your landlord regarding treating it or perhaps letting you end the lease.  Throwing around terminology like "toxic" without hard proof makes you just sound litigious and will likely make your landlord dig in for a fight.