All Forum Posts by: Simpson St Louis

OK first of all my condolences goes to the family. 

I'm not sure of if this is the right forum to post in or not, but I know if this property was to be purchased it would need to be demolished in order to conceal that a person died on this land.

I found this yesterday while driving for dollars, I noticed that it was in distress it had an eerie type look and vibe emanating from it. So I stopped took pictures wrote down the address with a few notes next to it. So literally now today not to long ago I go type the address in my counties appraisal site. I found the registered owner and their mailing address was the same as the property in question. So then I did a basic Google search the owners name and zip code, to find any other known addresses or phone number(s) instead I found an Orlando Sentential article with the owners name stating that she was murdered in her home (This was a tragedy she was a mother of 4, but at least justice was served the murderer was sentenced to 25 to life he got what he deserved). As sad as this may be I know this a phenomenon that has more than likely crossed the path of some investors before. I want to know how you would go about getting something like this under contract (also didn't find the names of her children, I know they would probably inherit the home under Florida's laws.

@Adrian Smude and @David Coleman Thank for welcoming me into the BP community. I've a fair share of REI, personal finance, and motivational mindset books and am always looking to add more to my list, if anyone has any recommendations do not hesitate to inform me. I do have a passion for reading (every new book is a new experience). I do attend the monthly GOREIA from time to time, but I do feel I should attend at a higher frequency than I do now. Anyways though thanks again hopefully we'll be able to do business with each other or exchange helpful ideas in the near future.

Hey BP I'm a new REI from Orlando Fl. Im in the wholesaling market with plans to move into buy and hold rentals. My retirement plans involve becoming a private lender, and having and using a self directed retirement plan.

I am new to investing(wholesaling), so one could expect that i wont have all the right answers. 

Now moving on my dilemma is more than likely a simple one, but I don't want to waste anyone's time neither seller or buyer or my own. So this is the scenario I  find a property in distress. I go about  the regular process of taking pics write notes of what see and notice.  I see the property has some boarded windows some are broken, looking inside I see moderate damage to the walls and cabinets the floor are tiles, etc. So after seeing all this Im thinking that this house which is a 3/2 in this condition is probably worth about 40-55k roughly. I know about the 70/20 rule but is that alone able to justify the rough estimate of 40-55k purely off what I see, and feel that is itis value. Or are there more factors that need or should be accounted for before contacting either the owner or a buyer?