All Forum Posts by: Brian Holt

Thanks @Mindy Jensen. Appreciate the feedback and plan to report how it goes!

So I have done my homework on the roughly 40 homes in the auction. Did drive bys on all of them and selected the 5 I would be interested in. From there I had title searches done to insure the quit claim deed would stand up. Now it's down to the bidding process. These are all roughly $30k single families if they are in decent shape, which based upon exteriors I felt these were the best of the bunch. Obviously buying for the right price is critical and I have set my limits. Any other advice from the pros who have been there and done it before?

Looks great! Any before pictures?

welcome to BP. I think you have gotten some good tips so far. As a newbie myself I can say checking here regularly I have learned a ton by following the forums. Best of luck!

I'll echo the earlier comments and just say it is a beautiful home. Great job with the design! Good luck with the sale.

I'm going to a deed sale next week and this is making me nervous! Haha. Looks like overall you probably got a good buy, but some repairs are probably expected.

So a couple updates. Seller had not disclosed that their leases also covered yard and snow maintenance, leases both end mid next year so not a huge or long term expense. But, during inspections I found that the main beam under the house is cracked and need repair and they are balking at fixing. Depending on their final response I may be back to the drawing board. any thought?

Welcome to BP! I'm pretty new here and from PA as well. Lots of great info. I'm getting a lot from the podcasts if you haven't checked those out yet. Good luck!

From what I have learned I would say you don't have to have an llc for any real estate investing, but the reason a lot of people on BP do is because of the ability to avoid personal liability should an issue arise. It's not expensive to start and maintain an llc, but the fees will vary by state. I would recommend doing a few searches here as there are a lot of threads on this topic that will shed some light on things. Also, I would speak to an attorney and Accountant to get their advice on the best set up for what you wish to do. 

Good luck!

Welcome to BP! And as another relative newbie, I can tell you I have been learning a ton. Make sure to check out the podcasts.