All Forum Posts by: Tomeka Wray

Thank you for the reply. I think that they when they listed it, they just put Short sale in the description. After doing a little digging the asking price covers all lien/mortgage cost plus a little something extra. So I am not sure what is “short” about this sale…lol. I will see what happens. Thanks. 

@Chris Davidson thank you for point that out. 

Hi BP Colleagues!!!

I am analyzing a lead that I want to make my first offer on. It is a short sale, however I am not willing to pay what the seller is asking. In order for my numbers to work, I need to offer 40% less than what the seller is asking. I know that they have pulled alot of the equity out of the home and they have a HOA lien on the property. My question is am I being crazy with my offer. What is the typical amount that you offer below asking price. With the asking price and the amount of repairs needed it will be well over the ARV. Let me know if my offer sounds crazy. Thanks.

Can you use a service like Regus.com. You can do a virtual address for like $50 p/mth. Hope that helps. 

Good Evening, 

I am relatively new to BP and I have been going through the content on BP and there are many references to Bigger Pockets Insights. However, each link points to the "Pro Articles" section and the last post was November 2021. Is BP Insights not a thing anymore. Or am I missing something? thanks in advance. 

So today my tenant is scheduled to move in. I told her two weeks ago to make sure that she has her utilities start on Friday Sept. 30th, because the utility company didn't have start dates on the weekend. Also I scheduled the stop service on my account on Sept. 30th. So when I show up today to do the walk thru, there is no power. She scheduled the utilities to start on Monday. As a result she has no power this weekend and we could not do a full walk thru because I could not start anything that was plugged up. In the lease she is responsible for her utilities. Is this something that I need to be concerned with?

So today my tenant is scheduled to move in. I told her two weeks ago to make sure that she has her utilities start on Friday Sept. 30th, because the utility company didn't have start dates on the weekend. Also I scheduled the stop service on my account on Sept. 30th. So when I show up today to do the walk thru, there is no power. She scheduled the utilities to start on Monday. As a result she has no power this weekend and we could not do a full walk thru because I could not start anything that was plugged up. In the lease she is responsible for her utilities. Is this something that I need to be concerned with?

Investment Info:

Single-family residence buy & hold investment.

Cash invested: $38,000

This is my family home that I inherited. I gutted it and rehabbed it. Now I am taking on my first tenant. As a result, this jumpstarted my journey into REI.

What made you interested in investing in this type of deal?

I really didn't have a choice, I could just let it sit or make it work for my family.

How did you find this deal and how did you negotiate it?

N/A

How did you finance this deal?

I personally financed the rehab project.

How did you add value to the deal?

I modernized it by making upgrades where it mattered (kitchen/bathroom).

When do typically do the walk through with your tenant? The day before they move in or the day off. Thanks 

Thank you all for your input. I took your advice and did it myself using YouTube University. I don't consider myself a handy person at all, but today I learned how to replace a screen, install a mailbox, and change locks. Took me a bit longer than 10 minutes p/lock but the moral of the story is you all encouraged me and I accomplished my DiY tasks and saved myself some money. Again, thanks everyone for your input.