All Forum Posts by: Fillip Nelson

Hello,

I purchased a 3/1 rehab property in Pittsburgh. It was vacant for some years. It needs a new panel and main service line according to inspector. The current system has fuses and I have only have 4 circuits for the entire home. I have quotes to replace the panel and main service line for $1,800-$2,100. My question is should I re-wire the home and add more circuits? That would be from $6,500-$8,000.

I plan on either having window AC units, or perhaps mini-split systems, I have not decided.

I have a tight budget, but is the rewiring something that needs to be done since I am renting it out, or do I have other options. Some of the old wiring is knob and tube.

Thanks,

Fillip

I'm looking for a management company in Prince George's County, MD for a single family home. Looking for refferals.

Don, you are correct. Her mortgage right now (minus the condo fees cause she can't pay) is way cheaper than rent.

She will not have any place to go, but she may be able to salvage her credit if she sells to me.

Landlords will become even more strict when screening after the rent moratorium ends.

I just refinanced, my mortgage is really low.

I was also thinking buying her unit, living there, and she can rent my unit, as an option if she brings up being priced out of rent market.

Very true Theresa...

I'm wondering how do I convince her.

Every time I run the numbers I wonder what's in it for her.

$185k Value

$155,000 mortgage

$43,000 condo lein

$5,500 in taxes

-$68,000

I'm wondering what deal I can work out.

My neighbor is $5,500 in back taxes on her Condo

She is $40,000 behind on condo fees.

She paid 200k for it in 2008, and now they are selling for 182k

The Association has filed a lien on the property 

 What is the best and creative way to obtain the property? 

Thanks Sam,

That is good advice. Let me look into that.

I also look up court records, and I found the owner there, but the address is the same as the one I have already reached out to.

Maybe, I just keep sending the letters.

Thanks Sam. That's a great Idea. 

I've done that and was able to find a few other addresses. The property owes 60k in taxes and the LLC looks like it has not been operating since 2012 according to the records.

I mailed letters to the main address of the owners, the vacant property itself, and the address of the LLC, and all were returned in sender.

Its a good investment property in my area.

Maybe I should try Facebook, and LinkedIn.

What's the best way to locate LLC owners of vacant holmes.

I've mailed a letter to the LLC address, the personal owner of the LLC address, and other known addresses and no success.

Thanks,

Fillip