All Forum Posts by: Erik McElhinney

Matt, I know i am a little late to the party on this but being a contractor on the vineyard i'm sure we could get into a good back and fourth and provide value to each other. Im gonna send you a message shortly.

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $750,000
Cash invested: $225,000
Sale price: $1,550,000

Full renovation of a two family in Vineyard haven.

How did you find this deal and how did you negotiate it?

Local agent

How did you finance this deal?

Hard money

How did you add value to the deal?

Full renovation by my company

@Ellis San Jose thank you very much Ellis, I appreciate your response!

A piece of land I am in the process of purchasing for a very good price has a mass health Lien on it. What does that mean for me? Is there anything I should do different throughout the buying process or after the closing? Any and all information is appreciated!

@Jay Hinrichs Thank you for informing me on the different risks in the different types of foreclosure investments. I am more interested in what you had mentioned. The sheriff sales and the auctioning. I would like to take the cash that I have and buy a property to fix and flip. I have the cash and the knowledge of construction. This community here has been so helpful and I am also reading books on it as well. I’m just looking for any and all knowledge and I appreciate the input you gave!

@Hunter Wolfe thank you so much for taking the time to write out that extremely knowledgeable reply! I appreciate all of your knowledge! I hope all goes well for you in your current foreclosure process!

@Brian Formulak Thank you very much Brian, I really appreciate you sharing your knowledge!

I’m seeking advice on foreclosures. I am a new investor but a long time contractor. I’ve built and renovated many flip houses for my clients. What have you found to be down falls in the foreclosure world? What successes have you personally accomplished investing in foreclosures? I’m seeking all information you guys may have! Good or Bad! Thank you!