All Forum Posts by: Javonne Gray

Thank you. That thread did help.

I have no idea how the title is held. Maybe that would come back in a preliminary title search? I will ask. Thanks.

I have only called one title company. The escrow agent said that the seller would need to get a lawyer to handle it but He does not have the money to do so. But thanks for helping me think this through. I will call a few more title companies and see if I can find someone else who might understand a work around.

Hello,

My husband and I are new to wholesaling we have had a few leads come through but none that were both situationally and financially motivated. We got a call from a seller who is both but we do not know exactly how to help him. He has has owned this home for 35+ years with his brother who left Ohio decades ago to live in AZ. He passed away 1.5 years ago and has two surviving children. The children were unaware of the home and deny that it went through the probate process but they do not want anything to do with the property. 

Would they just need the heirs of his brother's estate to deed over the house? Or is there a more complex legal process that would need to take place to clear the title?

How do I analyze mixed income properties? The property has 2 residential units ( 1- 2/1 and 1- 1/1) with a two chair barbershop in the front space. Both units are empty, should rent for 725 and 600. There are renovated duplexes selling in the area for 65-75K. How much more might the barbershop add to the value? Seller says that only one chair is rented at this time but each rent for $600/month. I'm super new at estimation of repair costs but I think that it needs about 20k in repairs.

@Chris John

I have not contacted a realtor. This seller prefers to not involve realtors. I need to connect with one in my market though. I will work toward that today. Thanks for the tip.

Hello,

My husband and I are looking to purchase our first investment property. We have been talking to a seller who would like to sell his duplex for 86k (He told me 80k in our first conversation, went up to 86k the next day and when asked why he said because of the repairs/work that he has put into and will need to put into the property before selling it). 

When I looked at duplexes sold within past 6 months in that area of the city, 2 sold for ~35k but from the looks of the pics needed extensive repair, 1 sold for 71.2k in similar condition to his. 

The seller's property would need the driveway resurfaced, no other repairs needed at this time. Both units are occupied bringing in a combined total of $1580/month

My question is: should I assume that the property around the corner went for cheaper because it was vacant and pay a bit more? if so, how much more should I be looking to pay for this property?

 What is a wrap?

Hey all. I am new to investing. Had a conversation with a guy who has two mortgages totaling 77k (50 on the first, 27 on the second). The ARV is 69.5K in current market. Estimated repairs 12k. He says he is currently renting out the home pretty consistently. He says he just wants to sale for more than what he owes. I told him that I would look into other possible solutions but that he might be better off continuing to rent out the unit at this time. Thanks for any insight that you can offer.

Sounds great. Can you please send me an invite? I can pm you my email.