All Forum Posts by: Noah Wood

I’m interested in buying a home at a sheriff sale. It’s being foreclosed on because of back taxes to the city. I’m having a hard time finding financing for the sheriff sale as most lenders need an appraisal of the inside which can’t happen with sheriff sales at least where I am. I’m thinking about knocking on the owners door and offering to buy the property and take on all debt for the property. Maybe get a better deal than a bidding war at auction. I’ve talked to the treasurer and he was good with me paying them and avoiding auction.

My question is how would any of you guys go about this situation. My goal is to get as cheap as possible and avoid a bidding war because right now it’s a pretty good deal

@Will Fraser

Thanks for the response not sure I could do a commercial loan as I don’t have a business or llc. I was thinking about a personal loan then once I have it refinance into a better loan to get repairs and whatever else covered as the personal loan would just be to buy it.

Anybody know of any lenders that will loan to someone for sheriff sales? The homes in my area are being sold as-is sight unseen and I can’t get an appraisal inside until after I own it. That is where most lenders back out.

I know some lenders will lend to investors in this setup. I am a first time flipper so I need a lender that is okay with that I can put 20% down and have a good credit score.

Any help would be appreciated!

@BJ Everson Sweet I bank with Huntington so I’ll see what they got to say, and the llc thing is fine as I haven’t even set that up yet

Found a home I am interested in flipping or potentially rehabbing and turning into a rental but leaning towards just a flip for my first one. That being said I'd need funding of some sort, I have money saved for a down payment and no debt and a pretty decent credit score so I don't think I will get turned down for a loan (the home is listed at 69k and I expect 10k in repairs). I am going to check the property out this weekend and I already feel I am behind as I think I should've had my funding in order, but I wasn't expecting to flip a home yet as I have started a new job, it was just one of them deals you come across and need to move on. So my question is with me trying to flip this home what type of loan would be best to look into? I plan on putting down 5-10k if that helps you in your response.

Thanks for any help!

Ok thanks

Hello all my name is Noah and I’m fairly new to REI I’ve been looking to buy my first property for awhile now but can’t seem to find the deal I want to pull the trigger on whether it’s due to scarcity or the seller just not budging on price. So I’m trying to locate vacant homes as they can be very motivated to sell. What are some ways you guys locate vacant homes besides “driving for dollars” I’ve tried looking online but can’t seem to find any good clear info on how to do it. Any help is very much appreciated! Thanks

Jacob Atkinson I sent you a colleague request I have some questions if you don’t mind answering?

I’m new to REI and I’m sort’ve confused on where to start. So I can find a good deal and I currently have one I’m looking at Friday they’re asking 90k for a single family 3/2 home with repairs at 30k and arv at 160k easily. I’d appreciate it if someone could go step by step from when you find the deal to when you buy the home. What are the important steps someone needs to take in order to get the home before another buyer does? Any help would be greatly appreciated!

What all do you guys use to generate leads that is free? I’m not look to do mailing campaigns yet until I’ve done a deal and know what I’m doing before I put thousands into mailings. So what do you all use to get deals in front of you that is free or very cheap? TIA!