All Forum Posts by: Mark Elliott

ah, yes, the owner still owns it until the bank forecloses, then it is a different deal. of course, at this point, you can probably deal with the owner and stop the foreclosure, but is that the best deal? the owner moved away from it for a reason and that reason is likely that there was more owed to the bank than what it is worth. here is a couple of ideas on finding the owner. one, check the county records for any other houses in the nearby area that are in that owners name. two, he moved somewhere, google his name. last effort, send a letter to the address in question. if he moved, he filed a change of address somewhere and you will be notified

it doesn't change my thoughts, jeremiah. raising the intrest rate isn't a big deal unless it is a huge amount. selling the property may seem a viable option, sure, but in refinancing, you basically are selling it, to yourself. the tenant is paying the payment for you so there is no out of pocket cost to you, plus i am sure you can do much more with the additional money to offset anything that raising the rate will cause. use the house as a " money house", if for nothing else

hi dan. i have run into similar situations here in the buffalo, ny area. basically, i go to the county records office and look up the recent info on the house. if there is a bank mortgage on it, they have to file paperwork with the county to register the lien on the deed. the most recent paperwork is likely your bank you will want to deal with. sometimes, neighbors know more than you think they do, so start knocking on doors too

so, if you refinanced, you would add 2% to your interest rate. you take the money and buy more properties and add 25% increase, at least, to your net worth. and the problem here is???????

hard to say, kimberly. you could replace the entire plumbing system and of course know it will work, as it did before, and then just move on. i wouldn't recommend replacing with copper again as it just become missing again. if the numbers still work after replacing what was taken, then do it and move on. if you can do it yourself, then even better yet

hi daniel. i certainly would help you. please check out my profile and let me know if you would be interested

hi yamin. i would be willing to help you in making some deals here in the buffalo, ny area. as you can see from my profile, i am a home inspector as well as a real estate investor here in this area. let me  know how i can be of help to you

hi damier. you need to search by name of owner. check the site for owner names on each house and then check records for anything under their names

hi donnell. equity evaluation is hard. basically, you need to find comps in the area. look at the average price of those and subtract what the flip house is selling at. thats your basic equity. then, of course you have to add in your rehab costs to see where you are at. if, after purchase and rehab, there is a positive difference between what you have invested and what you could sell for, thats your equity. 

hi patrick. is the home inspector licensed in mold? does he have the qualifications to say it is mold or is it just his guess? if i were you, i would take a sample and have it tested just to have it tested. if it is mold, there are 18 different species of black mold and only 2 are toxic. that advice is coming from a licensed home inspector with a mold certificate. if it is black mold and is toxic, then you can remove it yourself, but protect yourself too. make it part of your offer. if the seller doesn't want to accept your offer based on the mold, then walk away. if you do not want the place because of the mold issues, would someone else want it? probably not. make your offer after the test, if they decline, say it is a standing offer and wait for them to come back. they will