All Forum Posts by: Thomas Handy

Time really flies when you’re busy. Last month I looked at a few houses but only a few passed the test.

I made an offer on a 3bd SFH and the out of state owner accepted. I should close later this month. I'm working with my bank to get see if I can get the home inspection rolled into the final costs.

I’m working on a deal with a rent to own property but first need to talk to a bank to see if I could refi it in order to cash flow. More to follow on this.

The third deal I plan to work on is a rented duplex that the owner is selling for $49,000. I plan to do a drive by this morning to get an idea of the area.

I've followed Diane Kennedy the past few year and went through her to do my taxes. I filled an extension on my taxes and need to talk to the account since my tax numbers looked different this year than past years.

So what did you do last month?

I told the seller the numbers wouldn't work for me. Then he shot back make me an offer. While I was working the numbers I asked him if I could refinance the property and he said yes.

I also talked to a property manager area to get an idea on what this could rent for. He has a few properties in the area and they rent from $750 t0 $820.

Initially this may cost me a month or two out of pocket but after refinancing, this looks like a good deal. I'm going to take a look at the property and just may put in an offer but first I need to talk to a few banks about refinancing it.

Russ,
On your website you wrote, "If your selling us your home we will not charge a dime for doing business with us". Can you explain what you mean by this?
Thx,
Tom

Russ,
Great story to read! Keep it going.

Tom

I like WordPress. As Lee Section mentioned, blogs can be hacked. But it's part of the environment today - thieves have to make money or gain pleasure somehow.

I built a blog last year and knew nothing about blogging. I read other blogs that provided tips and am now on page one of google when searching for teeball blogs. My consistency for posting dropped off this year but the blog posts are still there.

Figure out how much time you have and if you want to take the time to build a blog yourself or pay someone else to build it for you as Jerry Puckett mentioned. So what do you plan to do?

Tom

Thank you everyone! I was looking to see if there was any way to even make this work but I guess not.

Ned Carey
I don't have the comps but from what I've seen for homes similar to this, they sell for $60,000 and below. Most older homes here don't have garages so that is one bonus.

I found a 3br 1000 sq ft home with garage that an investor would sell rent to own for $75,000. No repairs are needed. The seller is asking for 3 or 5% down with monthly payments of $700 and he would finance the property. Could this be refinanced since the seller's rates appear to be above 10%? I'm looking to turn this into a rental and rents would be around $700 to $800 month. Would you buy this property?

Thx,
Tom

Joshua Dorkin

Thanks for making this available! A lot of forums keep "meet up" slides unavailable.

Tom

Mary Cronin Thank you for a detailed analysis. I need to brush up on analysis on commercial properties.

Tom

Jon K. and Don Konipol,
Thank you for the feedback.

Tom