All Forum Posts by: Bill P.

@Joe Vigurs In theory, being that inflation is right around the corner, you actually want to own more property.

@Vincent Dimedio I would think if a bank is willing to use appraised value instead of purchase price in the loan computations, it could be possible but it wouldn't be a conforming loan and the bank would have to hold the loan internally and not sell it.

@Ken Singh I've had 4 good results with condos and 2 bad ones. The bad ones were places that just didn't have the best condo assn and the rules were applied randomly. But just do your research to make sure the numbers work.

@Bryan Bannach Agreed. Just as a note, the banks weren't my partner in 08 as they only were looking after themselves.

@Tim Ivory Many HML firms don't allow 2nd liens and most HML firms don't want to just have an equity position in an LLC. Therefore, you probably aren't going to put together a deal using your parameters.

@Cashmere Bolden I will be making some assumptions here. If it has lines of 32k and you have to fully rehab the property for a 100k home, it may not be profitable for an inexperienced out of state ownér. To this end, I would think you need to pass on rehabbing this house but you may have a hard time finding an investor unless the ARV is at least 125k to be able to make some money.

@Jarrod Deshields Don't get involved with fads. Trends yes. Fads no.

@Jack C. It is called a Zestimate for a reason. It is a Zillow estimate calculated using a proprietary algorithm that only uses facts and trends. It can never replace an appraisal or good comp work.

@Timothy Johnson yes to title search

@Carol Scott in my opinion, wholesaling a subject to is just asking for problems. Better off holding it yourself and renting it out. At least you'll know the mortgage is being paid. Yes you need a power of attorney too.