All Forum Posts by: Account Closed

yes that will help me get a better idea of what exactly to look for now when I am checking out these rehab houses. I all of them need work but have no idea where to start with them so this is a good foundation I can use to get a general idea of if it is worth the time to bring an inspector in! Thank you for your help I will print this out now so i always have it lol

Thank you Lee I also have another question regarding the inspection. If I was to find a few bank REO's that I am interested in and check out with the agent, Is there a certain list on here that would give me a good idea as to what relates to trouble areas that can cost more and what doesn't. Basically I have 4 or 5 houses I am interested in but I don't want to pay an inspector or contractor for each one if i can elimate the one's with potential problems by simple things to look for. Thank you!

great question I would also like to know. Is that something that you put in the offer saying that after inspection I will offer 32? or is that something you can change after your get an inspection would also like to know the answer too!

I am looking at investing in my state no more than 30-45 minutes from where I live. I was interested in orginally having property management company do the work but not any more because I need to learn the In's and Out's first. I have been searching on websites and it seems possible to get a rehab house for 30-40k that needs about 20-25k worth of work. If i was to invest in one of those the rents are high in CT compared to Ohio Or Rochestor NY which seems to only be 500-550 a month. In CT you usually start at 800 and go up depending on the property of course. It seems there are some awesome cash flow opportunities here, just by analyzing the other deals I have seen on this forum. Hope I can keep the motivation and determination to start investing like many of you!

hey i am a new investor currently looking to buy and hold properties to generate long term wealth. I have been to a few CTREIA meetings and have a good idea of how to run the numbers. I am looking at bank REO websites and there seems to be good deals with multi families in the major cities for 40-60k some with 1 unit even rented out at about 800-1000 a month. I see alot of potential here. I have enough money where i can put 20-30% down but how would i go about getting the money for the rest? I have excellent credit but most of these houses want owner occupant, and won't lend to investors. Can i go to my local bank and apply for a loan of 50-75k to purchase maybe 2 of these multi's? thank you

Thanks DES I apperciate it, I am currently looking for properties that have 30% equity and will cash flow. I am looking for sfh

Mike thats funny I have the same picture right on my desktop that I wake up to every mourning. A white CLS550 ! I think the most important influence in my life is my friend who is 5 years older than me and owns a gas station. I see him with the jewelry, nice cars, etc. and it motivates me to get passive income. I would love to surround myself with successful investors to achieve my goal and help stay motivated. I am just scared about losing it and ending up not being able to create passive income and wealth..

I contacted an agent and told him about my taxes and how my reported income for the last two years is only like 12k and 15k. The problem is being a server we do not claim all our tips and I have a great credit score, but he said with this economy that won't matter. I have a good amount saved up and I am looking to invest in rental properties, but is their any way to get a loan? I have money saved up but don't want to invest it all on one property. Do you have any suggestions? Thanks

From what I have read and researched on, millionaires are made from investing in assets, and real estate happens to be one , along with owning a business.

ok well obviously I want to succeed, I wouldn't be a member and attend meetings and research if I didn't. I am finishing up with a degree in finance, but I just am not sure I want to work for a company my whole life, while I have many ideas that include starting a business and the most interesting one to me is real estate. I truly believe the easy way out is to put off real estate investing and say things like I don't have time for it, or why not just graduate and work your whole life at a company. The hard part is actually doing it and finding motivation every day to search for properties, read up. etc.