All Forum Posts by: Tiffany Ward

Hi Thomas Bernota . I would love to meet and learn more about market conditions. Do you know if there is a REIA in Humboldt county?

Hi everyone. I'm new to real estate investing and this site has been a wealth of information. I'm interested in multiunit properties using an added value/buy and hold strategy. I look forward to meeting other members especially those in the Eureka area.

I might be in a similar situation because I will be purchasing a Homeopath property as an owner occupant with a construction loan.  It will take more than 60 days to make the repairs and get it up and running.  It is a single family home.  I was told to keep fannie mae in the loop and have a letter from the contractor on the progress of the project.  

There is a house in a nice neighborhood that has been vacant for years and the taxes have recently gone unpaid. 

I think the owner died a while ago and her daughter has the property now.

Before repair value - unknown, home is uninhabitable right now and might be moldy inside.

After repair value - 950,000

After repair rental income 3500/month

Repair costs- I'm thinking at least 150K

I want to gain control of the home with little or no money down, catch up the taxes, fix it up with investor money and then either buy and hold or sell by assigning the contract.  My plan at the moment is a lease option (with very low monthly lease and down payment). Any other ideas?