All Forum Posts by: Marc Oister

@David Nadelstumph  Could you keep me posted on your progress. I am in the position to do the exact same thing.  Currently looking for a property or two to purchase at a deal to refi out of and turn those two into 3-6 more.  Was wondering how fast and much hassle it would be to refi back out.

@Robert Haworth  I have had a walkthrough today and agree the main house is quite small, with bedrooms that aren't that big either.  Also with a main bath on the first floor and half on the second, it doesn't make that much sense.  I figure if I can get it under contract at a good price that maybe someone would be interested.  

We will see tomorrow.  Im going to shoot him a number and see how it goes.  If you have any interest I can let you know what happens with it.

Thank you @Parker Detweiler I will have to look into it in the morning.  I have a good attorney that I work with who shouldn't have a problem

@Robert Haworth  It actually is at the corner of dayton and St. Mary.  So you to are familiar with the property.  Let me guess. Code and zoning problems.

how do i get a trust cert. @Parker Detweiler  Do I have a real estate attorney draw that up also.

Yes.  He had to figure that out the hard way.  

Hopefully everything works out.  The property attached next door has just sold for 95K and my offer is 41K.  3K under asking price.  Hopefully since their last offer fell through due to financing mine will be accepted.  After a walk through already, the only thing needed is flooring, paint and kitchen cabinets.

@Parker Detweiler Definitely not an owner occupied only situation.  Thanks for the insight on what to do.  Now time to find a good Real Estate lawyer in the Greater Philadelphia area

Got you @Parker Detweiler 

Yes its an REO that has already been foreclosed. Has been listed for 2months then price dropped and was pending, but funding fell through and is now back on market. So hopefully I can get it at a good deal.

Assigning/Wholesaling. What ever floats your boat.  But yes. If my current offer is accepted can I just have a land trust drawn up and close in that regardless of who's name the offer is in and who is funding the deal.