All Forum Posts by: Redha Laafia

Hello Guys,

We have the opportunity to help a person we know redeem its parents house that they lost at tax sale to an investor 8 months ago.

Attorneys seem to say there is a way to file a petition at the courthouse, pay the delinquent taxes and get the title back. In exchange for paying back the taxes, my partner and I would gain 60% equity of the house and resell it (free and clear). We are looking at making at least 50% on our money after resell.

Has anyone been through a redeem process like this one? Does this usually work?

FYI - house is in Pennsylvania

Thanks

@Tyler Rasmussen yes I thought about this. However some foreclosures on our market do not accept offers with inspection contingency...so we are required to run accurate numbers before to make sure it’s worth it!

@Kuba F. Thank you. Great article, perfectly related to my question. Love it!

@Dutch Langley that’s awesome ! Thank you a lot for the answer. That’s exactly what I needed. Will definitely keep reading and learning

@Dutch Langley Thank you a lot!

Please correct me if I’m wrong, so the idea is to gain experience and knowledge from this paid walk with GC so we get the ballpark numbers and make offers in future without having to involve a GC anymore in the analysis.

At what point in the process do you officially have your GC involved? Inspection Period after accepted offer?

Good morning Guys!

We've started our journey in REI with my partner and are actively looking to get our first deal (SFR - 3 bed 1 bath).

We look at a ton of deals on the MLS everyday and pre-select properties that we want to see in the weekend with our agent.

Inexperienced, we had a lot of troubles identifying the real problems to fix in those houses and even worse to estimate rehabs. I feel like we would be better off having a GC walk the house with us, but is it the normal procedure?

Let’s say I visit 10 homes on a Saturday, would you ask your prospective GC to walk them with you the whole morning? We feel like this would be too much.

I am eager to hear from other investors strategies on how to estimate those repairs/rehab.

Thanks All!

@Jacob Pereira You can achieve those high CoC % rates after a refi. His property appraised higher than his initial "all-in" investment, bank gives him 70% of the appraised value. He recoups most of his "all-in" investment. Thus, CoC gets much higher. You can also achieve infinity CoC % with this method if you are able

to recoup more than your “all-in” investment after a refi = no money in the deal but you get the monthly CF.

Let me know if it’s clearer

Good evening,

My name is Redha, interested to buy distressed properties in Wilkes Barre area, to rehab and rent for cash flow.

I would really love to connect with current investors doing the same in the area (or even flippers).

Anyone that has 1 or more single family/duplex/triplex/fourplex ? Does the current market has a lot of rehabs ?

open to suggestions and discuss

Redha