All Forum Posts by: James McGovern

There are tons of other categories not included here. I would champion the addition of self-storage as a category.

What are you trying to accomplish? We are missing something not articulated in your question

Anyone ever use arbitration clauses in leases as a legal mechanism to prevent tenants from filing complaints against a landlord and to shift some of the legal costs to them?

I have flipped four houses to date and typically look for properties that guarantee a healthy margin. Sadly, wholesalers have been bringing deals where one cannot make say $100K a flip but rather a number much smaller requiring me to do flips in volume. What has been your experience?

I am missing something. To date, I have flipped four houses all of which were acquired via foreclosure sales. Everything on the MLS seems as if it would make only $20K or so. As a flipper not focused on volume but rather overall margin, what I am not seeing on the MLS?

I have been following a property that I believe a good price for is around $85K. Here is the link to the listing on auction.com 

26 Delwood Ave, Middletown, CT, 06457, USA (auction.com)

I spent time researching this property over the Weekend and identified the following issues

1) The current occupants have filed for bankruptcy which makes eviction virtually impossible.

2) The property is on the Town's Blight list and will require a near immediate cleanup after transfer of title as the fines continue to grow

3) The roof has a major leak and none of the mechanicals in the house are in working order.

4) The occupants have indicated they have no where to go and will be destructive if forced to leave.

Why would anyone bid$155K on this property? 

Over the weekend, I went to inspect a property coming up for auction. I ran across several flippers who caused me to question a few things. They did not detect several major things wrong with this property including but not limited to:

1) a Leaking roof

2) No public water or sewer

3) The septic system is not working. The well is also dry

4) Prior upstairs renovations wll need to be town down and redone from scratch

One of the investors had brought along an inspector who also did not catch this. I continue to scratch my head wondering how many flippers never learned how to properly inspect an investment property?

 Fellow Bloomfield CT resident here. I might be able to take some of those properties off your hands especially if you would consider seller financing. let me know what commercial properties you are selling

 Deeds are not recorded in a subject to transaction.