All Forum Posts by: Alex Sanchez

So I went driving for dollars around my neighborhood and I noticed not too far from my house (literally like right behind my house) a house that was distressed. Grass was very long, siding and windows a bit old and it just looked like the owner didn't care about the property anymore. After that I went on Zillow and noticed that the property was under Pre-Foreclosure. I decided to leave my phone number on the door. To make the story short. The owner called me today and was as motivated to sell as anyone could be. Whats my best option to invest in his soon to be foreclosed house with very low money down? Owner financing wouldn't work because he obviously doesn't own the property free and clear. But would I be able to pay what he owes and take over his mortage? Im a newbie as you may be able to tell haha. Thanks!

@Justin Young well said! I like the way you think!

Tyson Hosey

Yes but it break my heart to know that they're making so much off of the property. Makes me think I should just focus in looking for a great deal through direct mailing instead. But I do work a lot and maybe turn key would be better right now.

Anyone invest in Turn key homes? Would you recommend for a beginner to start with one? Local development company near me has some for sale. Good cash flow but I looked at what they payed for the property and they basically got it for free.

Yulia Jenner Cool! Yeah that makes sense. Well best of luck with your 3Flat. Hope all goes well.

@Yulia J.

Very nice! Yeah it really is a bit harder to find a  2-4 flat. Why are the rents so low? And why are you waiting to increase them? Are you paying a property manager or are you just including it in your calculations in case you want to move out some day? Are you waiting for the tenants lease to end? Is your cash flow negative because you are occupying a unit? 

Bill Flannagan do you invest in Aurora? Or do you avoid because of all that hassle haha? Fairly long process?

@Don Colagrossi thank you so much! I'm still looking for an agent to work with me. My best friends dad is a realtor but I kind of don't want to get involved with him because he is kind of like family.