All Forum Posts by: Terry Woolard

I can also send you over some information if you want to take a look at that first

Thanks

Hey @Andrew Hove, I Can definitely help you out. send me a request and I will message you my contact info

I have an out of state absentee owner that I’m trying to schedule an appointment with but something always seems to come up that prevents the owner from getting down here. Unfortunately the neighbor can’t or is unwilling to show the house. I have asked the owner to mail the keys to me or even to a real estate agent but he is not comfortable with doing that. I’m running out of ideas, the house has been vacant for two years and I’m dying to see it. Is there any suggestions from other investors in BP land?

I'm not interested in holding on to it my self, I'm still relatively new. I would be interested in passing this off to another investor if they would be interested in that.

@Adam Schneider I’m living in Cary now I just moved here from CT. The property is Raleigh.

@Chris Martin The property is a condo and I believe the 10k and 2k are HOA liens. The 1100 is how much she was renting the property for before and 1050 is the average rents In the area according to rentometer

@Jay If she can work out a payment plan with her lien holders and if the HOA would allow subletting then I can see a lease option working out.

I had a lead contact me this morning and she is interested in selling her property but the problem is she has two liens and an outstanding loan balance of about 58,000 dollars. The property is currently vacant and not in rent ready condition let alone market condition, it's going to need about 10k in repairs. I really want to help the seller out, she is elderly and she doesn't have the money to pay off the liens or the money to do the repairs. So here is my break down..

The seller wants 5k to walk away

Lien 1 10k

Lien 2 2k

Repairs are about 10k

Loan Balance 58k

The property Rents for $1100

Mortgage Payments $442

Arv 95 - 100k

I was thinking that I could work out a subject to deal but the only way that I see this working out is if I can get the leans dropped or negotiated down and get the seller to walk away from it for nothing. Any thoughts from any investors in BP land?

I had a lead contact me this morning and she is interested in selling her property but the problem is she has two liens and an outstanding loan balance of about 58,000 dollars. The property is currently vacant and not in rent ready condition let alone market condition, it's going to need about 10k in repairs. I really want to help the seller out, she is elderly and she doesn't have the money to pay off the liens or the money to do the repairs. So here is my break down..

The seller wants 5k to walk away

Lien 1 10k

Lien 2 2k

Repairs are about 10k 

Loan Balance 58k

The property Rents for $1100

Mortgage Payments $442

Arv 95 - 100k

I was thinking that I could work out a subject to deal but the only way that I see this working out is if I can get the leans dropped and get the seller to walk away from it for nothing. Any thoughts from any investors in BP land?

Hi Guys,

I'm new to the RTP area and I wanted to know if there are any investors that have experience working with Lending attorneys or if you have sample contracts that you have used with private money lenders

@Maryann L. Do you mind sharing a copy of the contract that you used?