All Forum Posts by: Courtney Redfern

where? :-)

where? :-)

Hi. I am a relatively new buy-and-hold investor who owns two properties in my own name and two in LLCs with partners. I am continually searching for new opportunities, but suspect when I find them I will continue to own them as LLCs. I incur expenses in finding these properties-- subscribing to various things, driving all over, attending networking events, taking people out to lunch.... These expenses can't be tied to a particular property because it's all speculative until I find a deal... how can I write off these expenses? All advice appreciated.

One model: If you find a multifamily deal, where you can add value by fixing it up, you can refinance once the work is done and you have leases/tenants. Get a hard money loan to bridge the gap. This makes it even more important that you buy well so you are assured of being able to pay off the hard money loan and hopefully take some equity out (or at least not to leave too much money in the deal). 

The challenge right now is finding the deal at a reasonable price.

Hi. I am trying to figure out what happens when a property is listed for sale at a foreclosure auction, but the listed upset price is higher than FMV of the property.

No one is going to bid above the upset price, so the bank will have to take it back I guess. Do I reach out to the attorney for the bank and say "I'm interested in this property at $xxx" if you want to take it off the sheriff's sale... ? How does this all work? 

So far I've bought two short sales that were on the market, and I'm doing OK with them, but not great... trying to figure out how people get in earlier other than bidding at auction (I have young kids and just can't get there)...

Any advice for this relative newbie much appreciated!

Courtney

That's fantastic Christopher-- thank you so much. We'll definitely be in touch!

Hi, my husband and I live in Montclair, NJ and are learning about buy-and-hold residential real estate investing, in Montclair or in nearby towns like Bloomfield.

We're thinking about multifamily properties versus single family homes... ideally we would have a few income properties within the next 5-8 years. We have much to learn about valuing property... and everything else!

Courtney