All Forum Posts by: Account Closed

If I have a binding contract on a property am I legally allowed to advertise the property on websites, social networks, etc... ? Any input is appreciated.

Thank you,

Rob Z

Very helpful, Steve. I appreciate it.

How do I find legitimate comps on properties if I do not have access to the MLS? Any input is appreciated.

Thanks,

Rob Z

@Shariyf Grevious

Very helpful screen cast, Shariyf. I will definitly be putting that website to work. Thanks for taking the time to help.

Much appreciated,

-Rob

@Brock Siebert

Yea, maybe.

I can't answer your question for you but you said you had gotten pre-approved for an FHA loan. It may be different in California but I was under the impression it is mandatory to reside at the residence in which you attained your FHA loan for. For my area you must live-in for 3 years until you are able to turn it to a rental. You may want to look into it or if you already did, disregard my post completely.

Good luck

Scott,

Maybe consider finding a good wholesaler in your area as well as a realtor. A good wholesaler is your best bet on finding a fixer-upper for a beneficial price.

I completely understand the purpose of the "yellow letter" but I have been searching through forums for quite a bit now and still no information on how to get them directly to the seller. As a wholesaler the goal is to target distressed properties, desperate owners, or vacant homes. Where am I sending my letters too? what if no one lives in the home that I send my letter too?

-Rob

The process of this forum thread has success written all over it. Congratulations on your first deal!

Travis,

Do not include utilities in rent, it will add extra expense for you. If they're in college most of their parents are prepared and willing to spend the extra $100-200 a month for their kid for these college expenses. I do not know much about your market but it seems you have an idea of how much the retail value, start with low offers and set a reasonable cap. Also as Brant said make sure you know the HOA fees and more importantly the rules. Is this in a town home community where people can vote on changes in rules? If so, be careful because if the majority is old folks they may be getting tired of the "noisy college kids" and vote to end renting rights. I saw this happen to my neighbor.