All Forum Posts by: Patrick Jacques

5 bed 1.5 bath?  Thats... interesting?  Are you sure there will be a buyer?  

Im not 100% sure about the process, but I think most lenders charge up front, be it points or a percentage of the money they are loaning you.  And if you only have earnest money... I dont know how you'll be able to swing this deal.  

There definitely are not many multi families in the Orlando area.  Our verison of a "multifamily" is the ever popular townhouse.  Multi's do exist... but they are typically very beat up and on the wrong side of the tracks.  

Biggest mistake?  Not joining Bigger Pockets five years ago...

Hello Mark!  Welcome to BP and Orlando!  What part of town are you in?  I just joined the local re group, CFRI and it's a really good group.  There is a meeting or function almost every day.  

This is a primary residence question.  Gotta take the investor hat off for a few minutes.

In August of 2011, my wife was transfered to Atlanta from Orlando, and we were forced to sell our primary residence (  We would never have been able to rent it out.  Bad deal all round )

In September of 2011 we reached an agreement to, what we were told was a "short sale".  We signed over the mortgage with a title company and Caldwell Banker and paid about $2500 over the course of the next year.  We were told the short sale would affect our credit and ability to purchase again for the next three years.

Fast forward to today, where we learn from Bank of America , "no a charge off is a foreclosure, sorry.  You will not be able to purchase again for a total of seven years, unless you have 20% down"

So ... needless to say we are pretty disappointed.  What happened here?  Can anyone clarify what a "charge off" really is, and what this means for our ability to purchase going forward?

Thank you!

Wow, what year was that house built in?  I cant believe it was capable of being worked on, without falling apart.

I've heard a few times on the podcasts that $1,000 a month is a good starting point for a marketing budget.  Obviously, some spend much much more than $1000 a month.  

Thank you for that info Michael!  However, it did not exist on that page either.  I'll go try to talk to neighbors to see what's up with this place.

There is an empty home, which I can see out of my back window that I've had my eye on for a while.  It exists on the typical sites such a Zillow and Trulia.. but not on the county appraisers site.  How is that possible?  Id like to find out if it's an absentee owner or what is going on with the home.