All Forum Posts by: Marc Oister

It will be a cash purchase. Proof of funds is proof that I possess the funds to cover the money, and down money/ EMD is held in escrow if my offer is accepted.

If I have already put in an offer on the reo and it is offered, can i wholesale it to the land trust if the offer is accepted.

@Stuart Birdsong

 I didn't do any research but he did say it is permitted, and there is a tenant currently in the addition.  He said he was trying to sell the properties separately, but zoning stated that since they are so close that they have to remain on the same parcel.

How would I perform a land trust in Pennsylvania @Parker Detweiler

I have ran into two properties today from a direct mail campaign in the Phoenixville and Boyertown areas. 

  The first one is in Phoenixville.  It is a Two unit with a 3br 1.5ba main house that is 1000sq. ft. that is partially finished with the full bath on the main floor and half upstairs.  Another thing is that the bedrooms are all small.  I would actually classify it a 2br with a small office.  The second unit is a 1br that is roughly 650sq ft. and is above a 2car garage.

 I have went to look at the property today and decided to not give an offer because my numbers were based on the info I have gathered off zillow, redfin, and other sites that states nothing of the partial rehab to the main house, and the full garage/apartment and driveway addition that has been done.  I am able to find comps for the main house, but don't know what to add on for the additional garage that has been built on the lot.  Any thoughts on what a new construction of a 3 car garage with 1br above would cost so I can figure out what to add on to my offer.

The second property in Boyertown needs a nice bit of work, but the main problem is that the septic system is failing.  I feel that should take a substantial amount off of the offering price due to the septic systems condition.  

I have recently found a foreclosure property and am in the process of getting Proof of funds and my down money together.  I have been trying to figure out a way to fund the project without running into any tax problems later on down the line.  I am going to be the one handling all of the aspects pertaining to the property.  But I have two family members that are going to be investors and pool their funds together to purchase the property, but they want to have the title in my name so that when the rehab is done and it is sold, or if I decide to refi out and pay them back and keep it as a buy and hold they won't have to worry about doing anything.   What would be some thoughts to structure this project in the best way possible.

hopefully curtis.  If the price is right I might scoop it up myself. I am in the process of getting another property under contract, so we will see.  First thing in the morning  im on this lead.

I dont have any problem with that as my  grandfather is pretty easy to be taken advantage of if someone isnt looking out for his best interests.  Especially by lawyers.  But I just wonder how the lawyer will feel about the situation when I tell him I might not be able to buy the property but have another buyer.  

I have finally received my first calls today from my direct mail campaign.  I am sorting through the properties and one that looks promising was sent to me by an individuals attorney.  The woman had her attorney contact me regarding my interest with the property. I was wondering if anyone else has gotten a property under contract through an attorney without working with the owner directly.  The property is located outside of Philadelphia in the suburbs of Montgomery and Chester county border if that makes any difference.

sorry percy my phone wont allow me to tag people. But I will keep you in mind when the calls come in. Im targeting phoenixville, boyertown, bridgeport, and king of prussia.