All Forum Posts by: Account Closed

Find a mentor and start to build your team. Is there a local REI club or landlord association for networking? If many people want to sell their home, where do they plan to live? Good luck with your investments.

It's all about the cost of money and your individual interests, skills, and abilities. Can you provide some detail about your opportunities and goals?

Find a realtor with experience in submitting offers on foreclosured property and ask your questions over coffee. Think the situation through and put yourself in the occupant's shoes, they might not want to leave. Some posters on BP with thick skin (like me) will tell you to knock on the door anyway. Tell them you're interested in the neighborhood and ask if they know of any homes for sale. You'll get a feel for what's ahead of you if you win the auction. Talk to the neighbors too just for practice, never know what you'll learn. Good luck in your new REI career.

First thought is how does someone own a community well? Presume this deal is to purchase both sides of a duplex and the well is not on the subject land so he can disconnect at property line. Could it be possible to connect to municipal water or submeter to a neighbor? Talk to the local water and sewer authority. Sounds like a scare tactic but factor some expense here to straighten it out. Good luck.

Read the lease, it didn't run out but probably converted to month-to-month. So you could all be out with a 30-day notice and someone's security deposit could be taken to cure late fees or damage.

Get her and the pets out sooner rather than later. Cat urine smell is tough to remove.

You might not be the first to knock on his door but it doesn't hurt to ask if he's interested in selling. Property doesn't go to auction until there's 3 years of unpaid taxes in my county. Good luck with your prospecting.

Power wash and algae killer not an option? What prevents algae from attacking the new roof? What do the neighbors do? Maybe consider a metal roof with insulation to reduce noise?

Stay out of it. Landlord told you he doesn't want to be bothered so adjust your wholesale price and let the buyer do the eviction. Good luck in your venture.

Talk to your banker and shop around. I want to be more specific but every lender has their own policy and some will bend the rules (did I just say that?) if they trust you. Good luck in your venture.