All Forum Posts by: Bernard Chouinard

@Joe Wooding

Hey Joe, you can start by checking out New England REIA, Black Diamond group and new England multi unit investing group. All month monthly meet ups.

Hey All - So I'm a Massachusetts based investor visiting Parris Island and Beaufort South Carolina.  I've noticed several houses that were vacant and one in particular that is seized by the town.  

Since I don't know all of the laws and how SC works with this stuff I figured I'd ask my fellow BPers.  The house was tax sold last October for back taxes of $5600 plus a personal property tax of $600.  I've never heard of a Rental Personal Property Tax so if someone could explain to me what that is that would be great.  What the tax office told me is they have until October to redeem the tax sale, pay off the back taxes and get the house back.  Is there anything I should know regarding this?  In Massachusetts it's rear to find the towns actually taking the house so I don't have very much experience on this but I have always wanted to start investing in SC so this would be a start.  Any input you have, any advice, and suggestions would be helpful.  Thanks! 

@Mike Fontaine you can certainly do that but I would look a little further into why she's doing that. double check her revenues to ensure that she does receive a monthly income that will support the rent after the nine months is up.

Sorry, it is not. If you want to give me your email I'll add you to my distribution list of properties. I have a SF coming up in Webster you can buy SubTo existing mortgage with $15K down. 

Hello!

Selling an assignable contract for an off market property available in a great part of Southbridge, dead end street overlooking a country club.

ARV $276K

Estimated Rehab $73K

Asking Price $105K

Possible Profit $98K

Setting up a round of inspections on Thursday 4th at 11AM. Let me know if you have any interest in attending.

Non Title V Septic

Town Water

Full rehab of Kitchens and all Baths

New Roof (less than a year)

New Furnace (2 Years Old)

Updated water heater & electrical Panel.

Needs refinished floors, drywall patching all cosmetics, landscaping, wood siding clean/stained, new carpets upper level

HUGE House at over 2500 SqFt, 4 Bed 2.5 Baths

Photos: https://photos.app.goo.gl/W4Umzxyy8VhkY8F89

Buyer pays all closing costs. As always do your own due diligence. 

Bought a property via Subto existing mortgage - Selling via warp around owner financed via Contract for Deed (or Land Contract).

What qualifications should I put the retail buyer though? DTI? Etc

Should I use a note servicing company? If so, any recommendations on note servicing companies?

With this as a subto take over, does the end buyer need to get property insurance? Or should I just pay the underlying insurance? If so, what happens when there is a claim as the underlying insurance is under the old owner? 

@Amanda Roderick any update?

The agreement is in place however final sale needs to be approved by probate. We do not anticipate any problems and expect to have final approval within the next week or two so until then any agreements are contingent on probate approval.

Please do not go on the property and disturb the owners. The house is vacant however the family members/sellers live next door.

Links:

Property Package http://bit.ly/658EastThompsonSlide

Raw Photos http://bit.ly/658EastThompsonPhoto

Video Walk-Through http://bit.ly/658EastThompsonVideo

I will be conducting inspections Friday, June 27th at 11 AM as well as Monday, July 2nd at 1 PM. If you wish to see the property let me know which day/time works for you.

Feel free to call or email with any questions.

Best Regards,

Bernard Chouinard

BernardBuysHouses.com

508-579-8129

@Fernando Gomes can you confirm you received my email?  They have been going to SPAM folders so I want to make sure you received it. 

Off market 6 Unit Southbridge Building available. Full gut job rehab, Asking $100K. If Condo Conversion you're looking at $475K rehab with an estimated $235K net profit. If Apartments, you're looking at a $300-325K rehab with a $94K/yr cash flow.

Email me at [email protected] for details, property package and video walk through. Closing set for June 18th.