All Forum Posts by: Travis Elliott

Michael

You said ""If you're marketing to an absentee owner when you order your list order it through ListSource.com online they charge 21 cents however buy it from First American Title for 6 cents"" Can you explain that a bit better. So do we order from List source of First american? Does First American do this nation wide?

Mr investor--
So in your experience most title company's are able to filter owners by where they live and house price? Do they charge?

Ed how is it that US Lead List or Click2mail have lists but I cant get one from the court house?

Patrick

I know that the tax address and their personal address are different. I am trying to find a list of all of those people who have a second home that is vacant or that is being rented out currently. I am trying to do this by searching for out of town owners. The city/county (they are one here) cant filter them for me so I am not quite sure how to go about this. I hope this made sense.

I called my local court house looking for a list of absentee home owners.. I asked the clerk to filter a list of just a owners who live abroad. The gentleman said that he was unable to filter any lists by my parameters and that he was only able to look up homes by addresses.

I have read on here about lists that you guys are getting. Where do you find them and how are they filtered? Do you do this at the court house?

My opinion: it is a really bad time to take out a variable rate mortgage. There is no room to go anywhere but up from here on a variable.""""""""""""""""""""""""""""

I agree and I dont plan on doing so. I will stay with a fixed rate

Wow Mitch that is pretty sad to say the least..I am going to go back to my bank on monday and sit down with the mortgage lady. This will give me time to fine tooth the whole deal. If it ends up that I need twenty percent or more down it will stop me from buying.

Ok now that I am off of the phone and can type with more than one hand I will add a little more.

I spoke to mortgage broker number one. He stated that there is a program out there for 5.5 percent interest and 15% down.

Then I spoke to my local bank and she stated that I could do 10% down on a NOO loan.

I then spoke to mortgage broker number three and she stated that it would take 20 to 25 % down. She said you can not get Mortgage insurance anymore so they want more down. She also stated that my local banker may be way off base due to the same fact that MI company's went bankrupt and the remaining ones dont want to insure investment property's..

So what is true here? And what is my best bet?

Thank you

Travis Elliott

I am trying to buy my first investment property but am running into different stories on what a person needs down on a non owner occupied property.

My story is this..
I haven't owned a house in over three years.I have free housing with my job. My last credit score was a 735. I only have one bill for 365.00. a month.

So what kind of financing are you getting and what kind of down should I expect.

This property is in Montana and I am currently unaware of the laws here.

"", so you will need to comply with the SAFE Act and have your "contract/note" originated by an approved broker. ""

Can you explain this. What is the safe act? And are you saying that I have a title company write up the contract/note for me?

I am looking at buying a house that needs electrical work done.. The houses here are very old. I think this one was built in 1890. What is my best plan of attack to rewire this place?

The old man who used to own it started rewiring it and there is a new box in place. The problem is following someone else's work is tough and I am no electrician. Any thoughts or ideas would help.