All Forum Posts by: Mat O'Grady

@Chris Coleman @James G. @Jacob Sampson

Thanks for the thoughts and questions. I appreciate it. 

@Jacob Sampson

I see what you are saying, but there are not very many people who would buy a life estate subject to an 85 year old's life span. Since I am the remainderman I am the only one would find it of any use. I plan on renting the apartment out. 

@James G.

I do not know the family personally, I am just thinking about how I would feel if I was in the family's position. 

Hey everyone, I own the remaindership interest in a single family home. The person who owns the life use is in a nursing home now and she is 85. The family asked me to buy her life use for $35k. I'm thinking no way. I wasn't planning to pay anything more to take over the property. I was planning to wait until she passes. What are your thoughts? Should I buy her out so that I can get the property sooner and help the family out or should I let them deal with the issue?

Do all recorded notes on a property need a release recorded in order to remove the note or is it possible that a note can be written in such a way that it will expire without needing a release?

@Michael Varela

Congrats! Good luck with the rest of the rehab!

@Michael Spittler 

I was typing his name as Mike so it didn't come up. Here he is now. 

@Derek DiPrete  I know a guy named Mike Spittler. He is on BP, but I guess I am not his colleague, because I am not able to mention him. I haven't used him, but I know people who have and they say he is good. He also likes to work with investors.  

@Marc DeLeonibus 

Hey Marc, I did not end up purchasing the property. Good luck!

@Cole Beauchemin Welcome to the site. We have a small group that tries to meet once a month to talk about investing. We have had a few speakers come and talk. When we have speaker, we have met at East Lyme High School and other times we have met at a few different restaurants. The meetings are free to attend. I'll send you PM.  

@Jeff Lamothe Hello, I am not sure on the cost of adding the wall furnace or what actually goes into doing it, but I wanted to mention the ductless mini-splits. They run on electric and can provide heat and AC. There is little maintenance and the tenants have to deal with the electric company instead of a gas company. Also, there wouldn't be a combustible gas running through the building that the tenants are responsible for.