All Forum Posts by: Mike Sedlacek

I have a 29 unit mobile home park in upstate NY. Asking $175,000, rents at $275 monthly per. NOI at 50%. Cash sale only. Motivated seller. Make us an offer. email me at [email protected]

Do they loan only in Florida. I'm in upstate NY. 

I am a wholesaler seeking to expand my buyers list in Southern Tier counties and Central counties in New York.

I spend a lot of time searching for discounted real estate, vacant homes, REO's, pre foreclosures, probate properties in these areas. I put properties under contract and assign the contract to investors.

I would appreciate it if you would email me your criteria of what you are looking for. Most investors seek properties with 65% to 75% offers below ARV. I will do comps and suggested repair costs for you and as must details I can get of the property with photos.

You can email me at [email protected]

Awaiting your earliest replies, I remain

Mike Sedlacek

We have a working relationship with our Section * representative. We call her and ask questions when a potential tenant wants to rent from us. It works really good this way because I get a lot of information about the tenant. Try that and we started by inviting her to lunch to get there rental package  for landlords and advice on screening tenants. 

I don't understand the question. Do you have a contract to purchase the property? You control the property. And do you have a cash buyer ready to sell it to? You can assign the contract to the buyer for a fee or get a contract to purchase from the buyer signed and have a double closing. 

For credit cards, this week I called the banks on 4 of my cards. Two of which were automated, no actual person to take to. Two others I actually talked to a person. I asked for an increase of my credit limit with no annual fees. I was able to increase one card from $3,000 to $10,000. The others they will notify me by letter of increases. I'll continue this process every 3 months to get all 4 cards up to $20,000 with no annual fee and I'll try to negotiate the interest rates down. 

Try www.hudhomestore.com you may find the same properties listed there as well. 

As far as the listed price on foreclosure.com to help determine the value you have to search comps. by asking a realtor friend for help. Get at least 3 comps within one mile of the house in question, for sale now, sold and expired listings. Then take an average or eliminate ones that are not near the same then average them out. Next use your judgment as to what is a reasonable price.

I have 2 guys that are willing to travel to do the work I need them to do. They are reliable and good carpenters and I offer them a bonus if they get the work done in the time I allotted for. You may want to look into that or even ask your neighbors for a referral. 

You really have to do due diligence on these homes. You have to drive the neighborhood and view the homes there. I did just that yesterday on two homes that I felt where worth pursuing until I actually saw the home and the surrounding homes. The amount of money I would have to put into the foreclosed house wouldn't give me a large enough return for a fix and flip to make it worth my while. So I past on them. 

To me the reserve price on these foreclosed homes I found them to be to high. I usually wait 5 months and keep watch then if I feel they were worth pursuing I would low ball an offer Three times over the next 3 months and if they didn't take the offer by then I would just drop it or maybe try again 6 months down the road if they are still available. If they haven't sold there is a serious reason something about the property.

Try Andy A. email: [email protected] 925-364-4345. He claims they can do 100% purchase and 100% rehab costs. 

I haven't tried them so if you can get financing from them email me the results because I will need it also. Thanks.