All Forum Posts by: Jeffrey Russo

Every thing I've seen and read confirms your statement 100%. I'm going to sell off a couple properties and was wondering how you're handling the capital gains?  

Very interesting information, thank you everyone. Getting back to my question regarding the eviction of the occupant, who will come with the property if I win the bid. Has anyone gone through this process, and is it the same as evicting your own tenant since you don't have a lease agreement with them? I will consult with my attorney on this but would appreciate any feedback I can get from fellow investors.     

Two years ago an aspiring new real estate agent told me about BP.

I've been looking at  occupied online auction properties that I would like to bid on but figured I would get a little feed back from the Bigger Pockets community first. I'm assuming the eviction process would be the same as evicting one of my own tenants? The other concern with occupied properties is that you can not get inside to estimate the rehab costs.

You can look up the liens in the land records, they're all recorded. You can also get a ton of info from the attorney that is handling the sale. I go there first to see if there is enough equity in the property to make it worth bidding on. Most importantly I would try to get financial info from the association and make sure they are well managed and ask about special assessments above the HOA fees. Many do not budget for capital expenditures.

I bought a few houses that have been winterized and always expect to find broken pipes. So far I haven't had to replace any boilers (I check to make sure they opened the boiler drain valve) I think the reason the property preservation companies don't do a thorough job is because they are not paid well. I get a kick out of some of the adds, they want you to have all your own tools and equipment, truck, IPhone, insurance, contractors license and knowledge but unwilling to pay a fair wage.   

Have you looked into any of the crowd funding options? There are so many now. I have no experience with this but will start inquiring as I'm in a similar situation as you. I currently own four properties but don't have a w2 job right now so the banks can't help me right now. 

I've been installing 4' walk in showers (fiberglass) in my remodels. They're roomy and easy to get into and you pickup a little extra space in the bathroom. I do purchase them from a plumbing supply house and not the big box stores because I like quality and most importantly  durability in my renovations regardless if they are a buy and hold or  a flip. I can always tell immediately when I walk into a property if the renovation materials were purchased at the big  box store vs a lumber yard.

Hello, I'm new to BP and noticed this post regarding a possible meetup in the Torrington area. Did you get this off the ground? and are you still active?