All Forum Posts by: Robert Rayford

This is a great Killearn Lake property, very desirable neighborhood. Secluded .36ac flag lot . New 40 yr roof, new bathrooms, kitchen, floorng etc. The pictures show work in progress. I giving the BP community a chance to grab this one before it's listed this week. The rent goes for $1300 but currently vacant. PM for more pics.

https://www.dropbox.com/sh/fpre8g00surofqn/AACNtE3...

@Clifton Geddings, I sent you a PM

@Howard Greisman, you need a Dropbox acct. Comes in handy. How's things been ?

@David J., What's your market ?

@Simon Stahl, The deals are still around if you know what to look for, it's tough for a newbie to enter in this market here in the Bay. I've been buying through out the Country and this is by far the most tight. If you need some pointers feel free to reach out to me. Not able to do a full mentor-ship but I can help you stay away from the pitfalls. @Account Closed is a good wholesaler to stay in contact with, matter of fact I just bought a property from him last month.

@Daniel Beltran, I've bough a few HOA foreclosers. In Las Vegas when a HOA forecloses on a property with a Super Priority lien it trumps the Morgtage Company's first position lien. Or, so it does for now. This has been in court for a couple of years going back and forth with the ruling. This type of purchase is high risk for any buyer, back years ago it was ideal for the buy and hold buyer. This type of buyer would purchase the property and put it on the rental market for a passive income. It took years before the mortgage company would start the foreclosure process. If the buyer filed for the Quiet Title early on this can drag out for years before making it in front of a judge. There are some Title Companies that do issue Special Conditions Title Insurance. They issue protection from the time of purchase forward and there are exclusions per circumstances.

Here is the latest on the issue: https://www.reviewjournal.com/business/nevada-supreme-court-rulings-favor-hoas/

bump

@Michael Abernathy, Man, if you don't just get in there and get your first deal done. Education is king but it can also be a hinderance. I read everything I could get my hands on when I wanted to learn more about investing but it took a leap of faith and I went for it. I have learned more by actually flipping properties then any book or podcast can teach. It also became apparent that all I read, watched and listened to didn't even come close to what I found out there in the trenches. Real Estate is very dynamic and you have to adapt to the changing market as you maneuver through it. The 1%, 50% ,70% rules and on and on doesn't always stand to be true. Example: 70% Rule, If one aspect of the calculations can be manipulated then this rule is no longer viable. You see I can rehab a property for about half of what most can because I own a Construction and Plumbing Company. So if you run numbers and I run numbers on the same property the rule may work for me but not for you. What I am telling you is that you must get out there and find your strong attributes and use them to customize a program that works for you. Good luck !