All Forum Posts by: Thorney Gibson

I try to live on 65% of my income at the moment. Ive always believed when starting out to live below your means. Hopefully this will pay off once I get completely started in real estate and investing.

Im still researching this, but do banks still let you put zero money down? I was reading somewhere that some banks will let you still put zero down, and instead put the down payment in a escrow account for all the repairs. Anyway hope someone can fill me in on this.

I would think getting a realator to pull the comps should of been one of the first things done. Then getting a estimate for all the work needing be done.

Pretty much everything that has already been said.

Good luck

What is a DOT?

This would be very helpful for us new guys to get fresh idea's. I would like to see information for 25,000 and under.

This is a great topic. Multi points of views here to think about.

Thanks! Seeing this stuff gives me hope lol. Really stressful making sure im doing this right. Its great having you post stuff like this, gives me a great blue print to work off from.

This should be a sticky I think.

Great read this week! One question tho, when you are figuring out numbers how do you figure out what the house is worth after repairs at the same time? Do you just see what other houses are selling for in the area? Like looking at the comps?

Honestly my goal is to flip houses right now. Then after I have some under my belt Id like to rent out after I have money built up from flipping. I just need to get setup with a whole seller I think. I just think its hard for me starting out because I keep looking for better and better deals.

Maybe I just dont have the right people yet for great deals. Im searching everyday at all the forclosures, short sales that I can get. Finding the right properties just takes time I guess.