All Forum Posts by: Shannon McKenzie

Hello,  we bought a house at a free and clear sale.  We purchased it pretty cheap.  Unfortunately the house requires some major work in the basement on a pipe and it is proving to be more work than we were ready for.  

Do we have any options to get out of owning it??

Hello,  

We just purchased a house at a free and clear sale a month ago and got our deed today.  There are tenants still living in the property.

Is it better to simply evict them and start over or should we post notice that we will be needing them to sign a lease?

Do we now own all of the appliances in the property should they choose to move?  

This is our first time purchasing an occupied home and aren’t quite sure where to go from here.

Thanks!

I just wanted to post a small update to my post that in fact we were contacted by Fortune Builders with a genuine offer to help us utilize the program to move forward.  They were very kind, listened and I feel like they not only heard my concerns but truly cared and wanted to help.  

I always try to share fair information positive or negative so I felt it only fair to post this update.

Shannon

I wanted to add an update to my previous post.  

I heard from Fortune Builders and they were very kind and listened to our concerns and have offered to help us.  

So again, definitely do your due diligence in figuring out what is right for you but I wanted to be fair and let you know that they are actually a very nice and caring company.

Shannon

@Bryan Murphy 

I wouldn't go.  The 3 day program really is just a major upsell for their mastery program and as you say you have zero interest I would not waste your time.  

We actually joined the mastery program after attending the 3 day seminar. I can't say much so I don't get in trouble but I wouldn't recommend. Use this site as a resource, don't spend the money. That program is right for some folks but really not for everyone. We are further behind honestly now due to debt and credit issues. I can't say most of the people aren't nice as we actually have met a lot of nice people but we could have met them at our local REI groups and meetings and not be in the debt predicament we are now.

Good luck to you!

Ps:  if you want info on how that whole program works and why you are better off without feel free to email me.  

I think most people that have access to that material sign  legal documents stating that they will not give out proprietary information. So you may have a hard time gaining access to that sort of thing. However also agree with above poster that you were very smart to recognize not to throw away 25 K.  Put that towards your business and use resources like this to get ahead. Take it from someone who knows and learned the hard way.  Good luck!

Hello! We are relatively new REI and while we feel we are doing pretty well with the marketing basics, understanding how to analyze properties, etc (have even gotten properties under contract) where we seem to run into issues every time is with gap funding. That 30 or 40k you need to cover what the hard money lenders will not. Looking for creative strategies for how others overcame this. Credit cards are not an option for us as unfortunately we paid a large sum to join an education group and so looking for other avenues to creatively pursue so that we can keep going.

Thanks in advance!!

Shannon

I find it sort of interesting that anyone who posts something negative about them seems to later retract it.  Interesting...