All Forum Posts by: Travis Boyer

@Brett DeLine

The ad is still a bit vague and missing some numbers like how much the current monthly note payment is. The 70%LTV is Loan To Value so he's selling the note of $41,300 divide by value $59,000 = .70 Due diligence on the note balance would be easy to check, but I would be concerned about the "appraised value" who appraised it and when.

The 12 months seasoning with cancelled checks means he as held the property for 12 months and can provide cancelled checks to show the previous note payments. I do not know where he came up with the 12%ROI or Return On Investment.

Hope that helps some.

Travis

@Martin Peter I would search the website to your local BBB and call a few of the remediation on there,  A+ rating of course or those with good reviews.  I manage a mold remediation company for the St Louis, MO market and I get quite a few calls from people that found my information on the BBB website.  They will also be more likely to call you back quickly and provide great customer service. I hope that helps,  good luck with your property! 

@Wayne Williams Welcome to the Site Wayne. There are some great people on here and even greater information. My two cents would be read anything and everything you can about investing on this site, books, and blogs. Check in the area you live in to see if there are some local Real Estate Investment Clubs, go to their meetings and talk to people and listen. Learn as much as you can and decide what direction you want your investment career to go whether you want to buy and hold, rehab and flip or wholesale. Once you get going then you can worry about setting up a corporation, there are topics about this on here as well if you search for it. I don't believe it is something you need to be concerned about this early in the game. 

Good luck!

That book is next on my list, I am almost done with "The One Thing" and waiting on my table for me when I'm done is "The 4 Hour Workweek" The 10x Rule was 3rd on my list. Both of these first 2 have been mentioned so frequently on the Podcasts that I decided to read them first. 

Let me know if you get that book and what you think of it!

@Account Closed I would suggest finding a local real estate investment club and start attending those and talking to anyone and everyone there. Its free, and you can never know enough people in this game. Check on Meetup.com or craigslist  or google to search for an investment club near you. I live in St Louis and we have a really large club and several moderately sized clubs as well. 

Who manages the park currently? If you buy it are you going to manage it yourself 

or hire a park manager? You state a central sewer system, does that mean it is on city water? Even with no current vacancies...I would at least plan for them if I were you. 

Another idea would be to put an ad on craigslist for a trailer in that park, just to see if there is an interest.

Hello @JoEllen Soucie welcome to BP! I am a couple hours up Hwy 44 from you just outside of St Louis. My first thought for you when it comes to Rolla or even Ft Leonard Wood would be buy and hold properties, Renting to college students when you will always have a continuous flow of and renting to military families as well. I would think that would be a great area for that.

Keep reading the forum posts and blogs on here and start listening to the Podcasts....you will get tons of FREE information!

Good luck with your investing future!

I agree with @Blair Poelman  The bigger the house, the bigger the asking price, the smaller pool of end buyers you have...which means it will sit on the market longer which will increase all of your holding costs that on a property of that size won't be cheap!

@Ade Tuyo We were tricked by your title, I thought this post was going to debate their menu! ....darn....

I agree with @Daniel I. Check with a realtor on accurate comps, do not go off of the "Zestimates" from Zillow. I would contact the seller and see if you can bring a couple of contractors through the house. Depending on the extent of the fire you could be looking at some extensive rehab work but if you he is motivated the price could be right...just don't offer $26,000, start way lower!