All Forum Posts by: Phil Z.

I think the point of not-refunding when they leave early is that you have no down time. Since you were not able to get a tenant from 24-28th, then I don't see why you would credit them for those days.

Banks don't like to do those small loans. Look into a personal or business loan and pay cash, or maybe you can wholesale the deal.

Hi Scott, I'm pretty sure FHA is only for owner occupants? AS far as I know, Investors need 25% down conventional loans, unless you use some other creative financing.

With $10k you'll probably need a partner, seller financing or just start wholesaling to build capital.

P.S. I'm also in CT.

How are you getting your buyer into the HUD Home so they can come up with an offer?

I agree .. worst case is to fill it in.

Are you bidding without going to the property first?

How are you getting your end buy into the property?

I don't think a contract is technically valid without earnest money (even if its just $1). That is why when you see a property donated, it is always donated for at least $1.

If it gets real bad you might need to hire someone else to finish the job and then tell the original contractor that you had someone else finish so they wont be paid for the work they didn't do. If they hassle you about the money and putting a lien on the house, then you might have to pay them and try to get the money back in court.

If its brown paint .. then paint it. If its real wood, I would consider leaving it if its in good condition and is not in the budget.

You can't come up with $100-500?

They do it all the time .. it's a write-off.