All Forum Posts by: Katrina Nicole-Ivy

@Pavel Shemyakin Oh! Apologies. Im definitely seeing that now. Won't make this mistake again! 

@Pavel Shemyakin I definitely won the auction (was the highest bidder) . The site stated it, the auctioneer not only called and stated it but I was also sent the real estate contract of sale for the properties. I wired my deposit etc. 

@Max T. I no longer have the second property (18.7k), only the 12.1k property so that's no longer an option. Thanks for suggestion though 

@Stephanie D.@Alan C.@Tim Youse Thank you so much for all the insight provided! This was SO HELPFUL. Once I close on the house, I will actually visit the property, do my due diligence and see how bad the condition of the house is. If it isn't salvageable(more than likely), I will definitely go the Wholesale route and take this as a learning lesson. I will definitely be in contact to to talk further. 

@Kaiser J. thanks for the very blunt and constructive feedback. I get it and leaning toward doing that. I’ve been anxious to secure my  first deal so I got a little ahead of myself 

By the way, I have a Pro account and a basic account and I’ve been replying to you guys on both. @Account Closed Is my profile as well

No, I haven't been in these properties. Im based In New York. I was bidding based on the details on the site (zoning, lot size, taxes etc). I know this property can be turned around into a good investment if saved quickly. 

I see you're based in Maryland. Do you have any insight on what I should do? 

@Matthew Paul

Hi @Shadonna N. thank you! I just wish I was in a better circumstance with paying. Ive been to Baltimore but I am not completely familiar with the area 

Thanks! Ill try using lending tree. I think Im going to contact the auctioneers tomorrow and ask if they could excuse the 18700 property. I would even be willing to pay the 2k deposit just for wasting their time in a way. Do you think ill have a chance? 

Today I won two separate auctions for two foreclosed properties in Baltimore, Maryland. One for $12,100 and the other for $18,700. They both need work as well. To top it off Im using personal loans to pay for them. I got approved for 12.5k today so the first property is covered but I am still working on getting the second loan which is difficult. Ive done the numbers for both properties and if given the proper cost effective rehab, both will cash flow (and have 15%+ cash on cash ROI) and be great properties to hold. I can admit I was a bit over zealous with the foreclosure auction today. This is actually my first real estate investment and I already realize I made a bit of a mistake being that the funds aren't readily available to even purchase both properties let alone rehab. If anyone would be please share their advice I would certainly appreciate it.