All Forum Posts by: Ann Bellamy

Interesting differences by state. In NH and MA, the title company/attorney typically does not disburse until recording is complete. In NH they send a courier to the registry, and in MA, the closing is frequently held AT the registry, so recording takes place on the spot.

In any case, once you have a signed deed, you own the property, so I can't see any reason you can't market for sale.

Mubasher, I don't have a source for you, other than a guru, such as Lou Brown. Because wholesale deals are not something advocated by your local Realtor assn. And of course, Lou Brown and others sell them, they don't give them away.

I deal a quick google search for "Wholesale real estate contract". One of the first organic links was a youtube video on how to use a wholesale contract. The guy offers a free wholesale contract to download.

However, one caveat: Always run any free contract past your attorney. yes, that contradicts the concept of "free". But sometimes free can cost you a bundle if you violate local laws, or don't include something that is required in your state.

Well, if it's your passion, you're not going to stop thinking about it. Rather than try, perhaps you can bring your family in with you, so that you spend time together when you are working and they have an appreciation for what it takes.

Also, if you find a cause that captures your attention and your heart, it is easier to focus on something other than work, when doing something important to help others.

Nice! Those are worth serious money right now. Hypothetically speaking, of course.

Maybe if you called all of them- I see the issue as not knowing which cable company to call, if there are multiples. And then when you call, ask for their customer service email so that you can follow up with an email documenting your attempt if it comes to that.

Ron, there are so many hundreds of investors in eastern Massachusetts, that to my knowledge, there are not just a few dominant players. Even those doing multiple deals per month are just a drop in the bucket.

Rather than focus on market share, I'd focus on what they are doing right to find the deals. Then copy them.

I don't think it's possible to estimate their profit (I assume that's what you mean when you say revenue) unless you knew their cost to rehab and cost of funds. So focus on your own.

If none meet your criteria, then keep looking, and maybe decrease the rent to increase your pool of applicants. Lower the rent, not your standards. An empty unit is way cheaper than a bad tenant.

But sounds like you made a good call. The students were simply using their nitpiking as a negotiation tool. Good for them for trying, good for you for sticking to your guns.

Well, mostly I agree with you, but sometimes the existing foundation, well and septic can be worth more than the cost of teardown. If it's not on town water/sewer. I don't know much about Ypsilanti.

Mubasher, no one can answer your question, because you haven't given enough information.

First you have to find what it will likely sell for QUICKLY once it's repaired. The after-repaired-value. And I wouldn't rely on the real estate agent trying to sell you the house to give you an accurate value, because her goal is to sell you the house. But certainly it's a starting point.

Then you need an estimate of repairs by someone qualified to do such an extensive rehab. Including basement waterproofing. Also, you should understand that a house that truly has to be torn down isn't worth much more than a building lot, because the cost of demo and removal has to be taken into consideration.

So start with those two points, and then we can give you a better idea.

I think the decision to take title has much to do with your financing decision. If you are looking for a conventional loan, then take title in your name and then move to an LLC afterward. I like the option of adding your LLC to the policy as additional insured, I never heard that one before. I'll be interested to watch this thread play out.

If you are seeking hard money for a flip, check with your hard money lender first - I require that the borrower take title in an entity due to Safe act considerations.