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All Forum Posts by: James McGovern

James McGovern has started 140 posts and replied 372 times.

Post: Insurance on Foreclosures

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 388
  • Votes 77

 Highly unlikely - but this is a simple question for the agent that you're working with on builders risk.

 The insurance agent told me that insurance does not cover intentional tenant damage; it is for "accidents" only. 

Post: Has anyone figured out a cheaper alternative to Cash for Keys

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 388
  • Votes 77

Has anyone figured out a cheaper alternative to Cash for Keys. Looking for options that cost no more than $200...

Post: What Part of Your Real Estate Job Is The Most Painful / Repetitive?

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 388
  • Votes 77

Wish finding properties via wholesalers was automated and included a true value calc

Post: Any case where owner financing makes sense?

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 388
  • Votes 77

Owner financing makes sense when you have their credit report in hand.

Post: How idiotic would it be to accept rent for a Foreclosure property?

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 388
  • Votes 77

I recently purchased a foreclosure where the occupants want to avoid being evicted. Would it be braindead to turn them into tenants or should we go ahead and evict them? 

Post: Exploiting other Real Estate Investors

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 388
  • Votes 77

In the 2021 time, New York investors thought they should be greedy and buy up all avaiable multifamily in Hartford. Now they have come to realize that the renovation costs are much higher than expected and are looking for suckers who would be willing to pay a lot for buildings that have sat empty for years and have blight liens against them?

How can an investor best exploit another set of investors who will likely lose their shirt on bad deals of the past?

Post: Strategies for profiting off illegal immigration?

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 388
  • Votes 77
Quote from @Julie Garner:

I'm surprised that someone who recognizes the illegal importation of often unvetted individuals would seek to find yet another way to fleece the taxpayers.

If our elected can fleece taxpayers, should those in real estate also have the same right?

Post: How to unlock opportunity for 108 Acres in Carlisle South Carolina

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 388
  • Votes 77
Quote from @Mike H.:



Another option might be to see if a solar farm or wind farm company might be interested once its clear cut.  If you could get some interest by someone that does that, it might help you drive the price up and/or get a quicker sale too.

Is that a good hunting area? Maybe you could have a timber guy strategically come in and cut some of the timber down so you could get some cash and then sell to someone looking for some hunting land.  

I like the idea of a solar farm but would appreciate any introductions to those in this business.

The land is currently rented out to a hunting club of which members of the sheriffs department participate. Built in security as I don't visit the land much as I am in Connecticut.

Post: How to unlock opportunity for 108 Acres in Carlisle South Carolina

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 388
  • Votes 77
Quote from @Mike H.:



Have you thought about having a timber consultant tell you if theres any value in having someone come in and cut down the timber?  Might be a way to get some cash quicker or maybe get a buyer for the land quicker if you can show them they could pull 1k an acre by having someone come clear cut the parcel after they buy it.


Timber is a long term play as trees do not grow back that fast. I have sold timber in years past and even had the sheriff seize equipment from someone illegally cutting it on my property. That haul of equipment at sale netted me $40,000

Was hoping for ideas above and beyond hunting and timber for this property.

Post: The Joy of Evictions

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 388
  • Votes 77

 One landlord I know told me that this can send a positive signal to tenants that they will likely end up embarassed when facing eviction and it might be best for them to move out on their own.