All Forum Posts by: Paul Amegatcher

My best guess on this is that HUD purchased the property at the Sheriff sale for the minimum bid. Once they assessed the property they decide to sell it for its current market value. HUD homes are listed on www.hudhomestore.com.

 I have had success with Beenverified.com to find vacant property owners.  It is the cheapest way to skip trace anyone.  There are other services but you will pay more.  Beenverified is $25/month if I'm not mistaken.  I paid $60 for a six month unlimited search.  It has been a great service for me as I deal with a lot of vacant property and bad addresses.

What is the amount needed to catch up and stop the foreclosure?  Also do you have the funds for fix up?  What you could do is to purchase it subject to and then sell it wholetail on a lease option agreement if the property is liveable.

 Here is a link for contracts: https://www.biggerpockets.com/files

You need to start going to your local real estate meetups and REIA meetings so you can Network with other Investors. You may meet a lawyer and a mentor at those meetings.

Paul

 You want properties that have been owned greater than 4 years.  If you search for high equity list the includes purchases from this year those buyers would be Investors.

Welcome to BP.  Start by reading the following guide: http://www.biggerpockets.com/renewsblog/2015/01/31...

You should also start listening to the podcasts.  There is a bunch of information on this site.  Feel free to ask questions if you get overwhelmed with all the info.  Good luck.

You don't need your agent to submit your offer.  You can submit offers to the listing agent on your own. Some people preach submitting numerous offers sight unseen with a contingency clause based on inspections.  This way you only inspect the properties after you have an accepted offer.  Obviously your offer will be low based on pictures alone and estimated repair cost. Good luck.

Welcome to bigger pockets.  I'm from the Dayton area as well.  I would start building my portfolio in the Dayton Market prior to moving to Vermont.  What you will need to do is establish a team in Dayton that you can trust that way you can still invest here when you move.  First interview and get recommendations for property managers and handyman.  Also get an individual that can provide you honest information in regards to property condition and repairs.

If you establish this team before you move then you can then trust them to continue helping you once have moved.  The worst thing you can do would be trying to establish a team once you are out of State.  Call me at the info in my profile if you ever want to discuss further.

First thing is to figure out if you have a deal. You need to know the ARV and then you can work backwards. Most people use the 70% rule. Which is (.7*ARV)-Repairs=Max allowed offer. If you are a wholesaler you then subtract your fee from the top of the MAO. For example on a 100k ARV home with 30k repairs the max you would offer would be 40k. As a wholesaler your max offer would be 40k-wholesale fee. So your max offer as a wholesaler would be 35k.

Unfortunately I think you will need to close and then sell these afterwards.  I don't believe you can even double close on the same day.  I could be mistaken.