All Forum Posts by: Justin Hennig

Have a distressed property I want to pursue that needs a ton of work but has awesome potential as a fix/refi/hold. The owner of record has deceased for a few years and the neighbor says the deceased owner's girlfriend still lives there. What steps can be taken to track down the estate and "relocate the quatter" to make a sale possible? Thanks for any assistance!

Is there a website (free or service) or app that is the commercial equivalent to Zillow? Trying to find out what people paid, when, and how to contact them for 5+ unit buildings.

Probably an ignorant sounding question: Can a property owner 1031 exchange out of a contract for deed once the contract is fulfilled? I'm talking about buying to The Owner of an apartment building who owns it free and clear and is afraid to sell outright without doing a 1031 into something else. The real fear is paying taxes...I'm trying to work out a contract for deed with them, which would somewhat lower my need for a large down payment. Could they 1031 out of the CD when I refinance and buy them out of the CD? Thank you!

In 2 minutes or less, List the TOP WAY you've had luck marketing to Duplex on up to 20 unit apartment complex owners...

GO!!!

Welcome to BP Antoine! To make 50k in real estate investing per year starting out, your options are wholesaling, fix and flipping, and buy, renovate, rent, refi, repeat (the BRRRR method that Brandon Turner talks about all the time on the podcast). With BRRRR, you'll need a property or a few, purchased from a very motivated seller and buy it/them ridiculously cheap so you can pull out lots of cash after you refinance. Check out BPs "The Ultimate beginners Guide to Real Estate Investing" to help get you caught up. Cheers!

Who would be willing to share a simple Confidentiality agreement?  Ken McIlroy points out in the ABCs of Real Estate this is essential in establishing professionalism when approaching owners of off market property.

It does not appear one exists in file place.

Thanks in advance. Fellow BPers!

Hello All!

Looking to bid on HomeSearch.com myself soon.

Did anyone have any concerns about title/liens?  Does HomeSearch.com offer any kind of assurances against clouded title or liens that could cause a bidder to "accidentally" pay off a large mechanics lien?

The property I'm looking to bid on was foreclosed, went thru a 6 month redemption period, and is now on this website.  It is owner occupied so I don't have an opportunity to go thru it, but I know the neighborhood and comps, plus the exterior looks immaculate and property has great fundamentals in terms of SqFt / beds / baths /  amenities / work done to the property that I found thru public online info (building permits / etc).

Thanks in advance for any replies!

Justin

I'm looking at a potential cash purchase of a preforeclosure where the owner/occupier died and hired a third party executor. The property manager is trying to act as the facilitator and sent me an agreement saying they would try to get a 3% fee from the sellers estate but if they won't pay it, the buyer would be on the hook for the fee. The property manager asking for this fee is in exchange is going to show the property to prospective buyers and be an intermediary between buyer and executor. Does this seem customary and legitimate, and are there any potential pitfalls or things to look out for?

Question to Minnesota Investors familiar with Seller financing: I'm looking to work with a couple sellers who own property free and clear and are willing to do selling financing. What type of transaction(s) did you do (CD vs D of T), how was it structured, did you hire an attorney to write or vet your contract and BONUS: are you willing to share the basic contracts/documents (what I'm really in need of). I always thought "contract for deed" was the customary seller-financing structure, but was advised by the BP community that a deed of trust combined with a note is more prudent. To further confuse me, The purchase and sale contract endorsed by the MN realtors association lists contract for deed in the financing section, but does not mention deed of trust. Bottom line, I'm confused about what should be used and need some help. Would greatly appreciate any help you can offer. Thanks! Justin

Considering a HELOC on primary residence for further real estate investment purposes...would this affect a conventional property loan application since it is "secured debt" or mostly just affect credit scores?

Any help would be appreciated!

Justin