All Forum Posts by: Phillip Lee

Leesburg, Ashburn, Chantilly, Fairfax, Loudoun, etc. 

Hi BP! 

Does anyone know any real estate agents that are hustlers and work with investors?

Thank you both! I have reached out to them and they are both solid! 

Good evening BP community, 

I am looking for a real estate attorney and securities attorney that has done syndications as I am looking to do a large syndication in FL. 

Thank you for your time. 

Hi BP,

Looking for realtors/ investors familiar with Bethlehem, PA to provide some insight.

Thanks!

Cody,

All very solid advice on here. Paying off the highest debt credit card would be a great goal, leaving the other lower interest rates being reduced over time. 

You will HAVE to have reserve funds when buying a rental property so keep that in mind, esp if you are putting down 20%. 

I would rather take my cash and buy a good cash flowing property that would PAY for, and off, my debts. Once you throw $20,000 on a credit card / debt you will never see it again. If you put that same money on a property that will give you equity + cash flow to pay for your debts, then after you pay for your debts you still have your money working FOR you and not lost. 

How can I make my money work for me to pay for my debt and expenses.  

You will hear on some of the podcasts investors that wanted to new trucks; therefore, they purchased a rental that would bring in that amount to cover their note, then but that rental and use the returns to pay for their expenses. 

Just my thoughts. 

@Peter T. Peter, Just curIoIs, Why does it make me look like I don’t know what I’m doing by asking for it to be painted correctly?

@Nathan G. If I have a contract on my current house is there a clause I need to add stating if the house I’m purchasing falls through I can cancel the contract and keep my current house? If so will that make it harder to sell?

@Chris Seveney Chris, We haven’t gotten to the appraisal yet as we are still negotiating the contract. They are not wanting to repaint. The paint job is very unprofessional with runs, in covered areas, and splotchy areas. It also needs more updates to the floors and kitchen.

@Brian D. Beatty Okay, we just checked and it was built into the contract. I dId the CMA and it showed it was worth the listing price. However, the condition of the house might not justify the listing price. The house has been sitting on the market for 180 days and dropped $50,000. It has been listed multiple times. My instinct is telling me this is a difficult seller as we asked for them to repaint the home due to the runs in the paint as well as missed and splotchy areas throughout the house. They declined. It still needs updates other than paint as well. The VA won’t fund it if appraisal price is lower than listing price. Also, I don’t want to have a contract on my house and selling my house and not having a home as this deal is contingent upon selling my current home to use my VA loan.