also I don’t work but my spouse does and I have the better score between us. I would like to buy a 27,000 house with value of 103,222 and rehab it.
what is the phone number or web site for “we buy ugly houses?
24
Mar
community what is the phone number or web address for “we buy ugly houses”? i have a horribly distressed home in a very bad area of detroit mi. paid for , no tax delinquency. but it is just a drain. new delevolpment is just up the street (1 block) but does not seem fesible to hold out. any advice?
Any advice for investing in a house?
24
Mar
I’m planning on buying a house sometime in June/July this year and would like some good advice. I’m a newbie at this and want to be educated as much as possible before making such an important investment.
Need advice on financing our first RE investment property?
24
Mar
My boyfriend and I think we’ve found our first investment property however we are having trouble getting financing. We went to a traditional lender thinking my boyfriend could capitalize on a first time home buyers mortgage(he currently lives in my home) so we would be able to put less down than 20%. However we were told you cannot get that type of loan if the home is for an investment, so we would need to put 20% down. Between the two of us we definitely have the money to put down and for closing, but I have recently become unemployed, so as you can imagine I am not going to co-sign with him as it would only hurt our chances. He doesn’t have enough money in his account alone and we were told I cannot give him any money as it would need to be in his account for 60 days prior to our application. We feel this property is a great deal and would hate to miss out. Are there any investors out there and how do u go about purchasing your properties? Should we use Hard Money? Should we try a Credit Union? If anyone needs numbers on the deal I can supply those as well. Any help would be appreciated!
I’d like thank everyone for there responses… even the ones that suggest I should haul my butt down to city hall and get married 
Sorry, I am not ready to go there just yet. We both consider this a business venture, and I am not at all concerned pooling our finances together to make it happen; after all, isn’t that what you would do with any other business partner?
At this point it looks like we will have to let this one go and try to wholesale it to another investor. The property is a foreclosure(needs very little work) in Northern NH if anyone is interested. Feel free to contact me for additonal details. Thanks again!
Agree or not?
23
Mar
I seriously laugh so hard my side hurts when I read what people have to say on here. And no, I’m not casting any insults right now.
I hear a lot say that Bush is the boogy man or Hilary is the boogy man or Gore is, etc etc etc.
Fact is people, the two leading political parties in this country all crap in the same places. Foreign oil, pharmasuticals, BIG insurance companies, realestate, the auto industry and electricity. Sniff around a little and you will see a lot of names of people who you would never suspect.
It truly is possible to hate a politician to the point of becoming paranoid that they are out to get you. Don’t forget that we elect them and alot of the people that scream the loudest don’t vote when the polls are open.
Is the current administration corrupt? DUH! Was the previous one corrupt? DUH! Remember, polititians don’t spend millions to get into office for YOUR personal gain…but for their own!
Sorry if my spelling sucks…I still on my first cup.
I agree…they all stink like rotten meat!
susi, flattery will get you everywhere. But becarefull…he bites.
Refinancing mortgage to make down payment on investment property?
23
Mar
I bought my primary residence 2 1/2 years ago for $60,000 and put $20,000 into it (it was a “fixer upper”). It now appraises at $145,000.
I plan on refinancing my $60,000 mortgage to pay for the debt of $20,000 (mixture of credit cards with 0% intros that are running out!) and to make a 20% down payment on an investment property (so I can avoid PMI). I plan on getting another slight “fixer upper” and only want to put in 10-15k into it. I will rent it out for a year or so until I think ive reached a good profit and sell it. Plus I only want to have to pay 15% tax rate instead of like 33% (long term investment).
I am not familiar with refinancing. Should I first get a contract on a property so I can refinance just enough to pay the debt, 20% to put down on the house and alittle money to fix it up? OR should I just estimate and refinance now and keep that money in the bank. I would hate to pay interest on money just sitting in the bank. Or do you know another way of doing it?
Can you continue getting loans to buy investment properties?
23
Mar
-15%-20% Down in Every Loan (Loan to Purchase Price)
-Residential or Commercial
-Possibly using a legal entity such as LLC.
-Income continues to grow with investment returns (Cash flow)
-You meet debt/income ratio requirement
-Reserves to meet payment obligations for 4-6 months.
How do you get a local real estate investment club to learn about your house for sale?
23
Mar
I have a house for sale at an excellent price, no realtors involved, and want real estate investors to take note. How can I persuade the person in charge of our local real estate club to distribute my e-mail regarding my property? They get solicited all the time, I’m sure. I already e-mailed my property offer and photos to the generic property investment club e-mail address, is this enough? Will they distribute it to all of their members?
If a foreclosure is placed on my investment property, will I ever have to pay the loan back?
23
Mar
In other words, will the bank ever go after the equity on my other property or my salary once I get a job and steady income?
How to use a company to invest in Real Estate properties? ?
23
Mar
I will like to find out how can I use my company (a corporation) to invest ini real estate properties. I want to have the company make the purchase, company on the grand deed, secure the loan and receive a rental income. How do I go about this? Do I need to establish a new corporation? Is there taxes issue that I need to consider?
Is it hard to get zero-down or 3 percent down mortgage loans now?
23
Mar
I have good credit and stable job, and I just refinanced my current home at 4.65% fixed for 30 yrs and really lowered my payment. I’d like turn this current home into an investment property and then buy another home with zero or 3 percent down, 5 percent down, etc. Is it difficult at this time?
need investment advice where do i start ?
23
Mar
do i go with a finnacial advisor or go with one of the online companies.