All Forum Posts by: Noel Y.

I am trying to buy small commercial apartment building.  I started to talk to commercial loan brokers and not sure if that is the way to go.  How to know if the lenders they claim is legit?

Thanks.

Hi,

Anyone used Listsource, renomy or prospectnow?  Please let me know your experience with them.

Thanks.

Hello,

I am looking at deals in Norfolk area.  Any one knows if zone x is safe?  (No flood insurance required)

How about heat cost in the winter?  Are the utilities cost high in the area?

Thanks.

Hello, can you send a copy of 22 criteria in selecting a market to me also?  Thanks a lot!

Hi, 

This is so strange, I guess the prior owner in this case is the builder. I wonder why the home buyer was not on hook for that? He brought the house from this builder using FHA and was foreclosed a few years later. Maybe the builder did not pay the vendors but then the whole development need to pay that not just this one house.

Thanks

Hi,

I saw a property on auction dot com that come up with "Title" doc.  The doc stated there are 3 open liens:

-2 small open lien dated before the house was built

-the mortgage lien on the house

The strange thing is the open liens are dated before the builder sold the house.  I could not find these liens in the county doc office.  How did this buyer ended up having open liens before he brought the house?  Didn't he have title search and title insurance?  The liens are not that big.  Data tree showed me the only one is the mortgage lien also, it did not show me other liens.

Anyways, I wrote to the title company on the title doc about this and hired another title company to do O&E title search.  

Any suggestions on these kind of problems during auction?

Thanks a lot!

Hi,

Anyone had experiences with buying from auction sites?  The sites always have "special warranty deeds", title insurance available to purchase and event property information report on prior mortgage records/comps.

-Do you do separate title searches?  Or simply go to county doc office online search?

-How many are you bidding each time?  What is your strategy?

Is it worthy that a lot of bids are not accepted while time/money spent on title search.  Suggestions?

Thanks a lot.

-What areas are up and coming?  

-Are condos good options vs duplex with bars at the ground floor?  I see some of the old duplex buildings are nicely renovated.  Condos might be easier to rent out and cost less to renovate vs those 1900s duplex/triplex.  But I know some of them have high association fees and I am concerned that association fees make them hard to resell.

Thank you for suggestions.

Hi,

Are there any potential in areas near Newark, Jersey City and Palisades, since there is this Gateway program and Meadowlands Mall going on?

NJ has a high foreclosure rate comparing with the rest of the country.  However, will the NYC crowd go to NJ in the future for bigger space?  If so, is there revitalization in the area?

Thanks

Hi

I plan to buy larger (10+ units) investment properties in these areas:

-Detroit/ Memphis/ Houston/ Chicago/ GA/ VA

What do you think about these cities or states?

I like Detroit but i heard people are leaving.  So, I am not sure.

Are the seller disclosures about properties cap rate accurate enough?

For larger investment properties, I plan to hire property management company/agent, any suggestions?

I also notice there are people who brought junkie apartment complex and flip them after renters moved in and try to sell them at big profit.  But if the property provides great cash flow why sell?  I am little concerned about buying these.

I have been buying small rentals for a while but I want to get into larger complex.

Thanks