All Forum Posts by: Obed Lorisson

Thanks Scott, i appreciate the answer

since the past 2 weeks when my website went live , i have been receiving leads ,but all those leads turn out to be out state ,so I'm wondering as I'm starting out how i can deal with those leads ?ignore them or pass it to other investors? if so can somebody explain how i can do that ,cause i starting out i want to learn as much as i can . so please help me

Thank you streetmant.i got what you said

@chris ,thanks for the info , i was thinking about doing it that way , but because it's out state ,i didn't go through with it , there's was a little fear cause I'm new with investing , i didn't want to get myself in too much trouble.i'm trying to do by myself .so thank again for the advice

@Rob , i appreciate the comments

thanks for the reply
The asking price is $44900 ,my offer $33000 ,wholesale fee $5000, so the taxes for this property for 2010 was $8270, i keep it for the analysis , for the rehab i talk to a friend of mine he's a real estate agent , he saw it , he tells me , it's going be less than that probably 60k, for the insurance i try to come up with the number cause i request a quote , i didn't have it , probably gonna be less.
wanted to leave myself some cushion.but thanks for the advice

@Raymond Thanks for correcting the link for me ,by the way see you living in wallingford , can i follow you ,cause i need to network with experienced investor.

I have this property that I'm interested in , is located in Baltimore ,in the market more than 200 days . Bank owned property
4 unit : 3 2br unit , 1br unit .

List price :$44900
My offer price :$32500
Arv :$ 175000(just to be on the safe side)all the comps i pull from various sources it's between $165000-190000 , it may be more
Rehab : 20000 *Unit =$75000 (it's ball park )cause i didn't inspect it yet (just to leave some room to breath

so i consider 2 exit strategy ,either i wholesale it to another investor for an assignment fee or i will rehab and rent for a refi.

i would like somebody more experienced than me to look at those numbers, and tell me if i am wrong or it a feasible deal, some values are estimates but the property taxes is not estimated , the rent asumptions is by rent comps that i use for the area
2br = $850 1bdr = $750
, i used realyields analysis software ,in this model i assume that i will wholesale for a $5000 fee, also the type financing i used is hard money .Be sincere with me because im a newbie ,if my offer is accept , it's gonna be my firt deal . thank you everybody any suggestion let me know
[url] here's the link to go see http://realyields.com/p/pumk

I'm a newbie ,just starting out , I'm considering the wholesale strategy just to get my feet wet , i understand the concept very well ,but i have some questions regarding NY.
1)i would like to know if you can assign contract in NY (Not for REO)?and if so can you do a back to back closing or a double closing?
2)Can somebody refer me or know a title company investor friendly and a real estate attorney that used to deal with investor , PM me if you have one.
Thanks everybody for the help

Thanks Brian ,

i appreciate your words