All Forum Posts by: Tricia O'Brien

Hello Indiana!

I need to find a realtor in Indiana who can give me comps based on the MLS on a house in Municie I'm interested in. Couldn't find comps on Zillow or Trulia, and don't think I can trust the assessed value. Any investor friendly realtors out there? Any replies would be appreciated!

I'm not familiar with "Prosper" or "Lending Club."  Are those the full company names?

Hello Fellow Bigger Pocketers,

Any ideas about where I could get a small loan to rehab a house in Indiana? The private money lender I talked to said their minimum loan amount is $65K. Other than a credit card cash advance or HELOC on another property I own, any other possibilities? I'd be open to the $20K being short term financing (5-12 months) or long term (5-15 years). Any replies would be appreciated!

Thanks John.  When you say "Register of Deeds" site you're referring to contacting the county  office ( in this case county recorder's office) and getting a copy of the deed for those properties I like to check for mortgages and other liens, correct? I have 5 properties I'm interested in.  This county uses a website called "Tapestry 2.0 - Land Records via the Internet" for selling property records online.  Do I want to order just the deed created when the current owner bought it and not other documents like "judgement," "land contract," "lien,""and "mortgage" from Tapesty 2.0?

I want to buy tax liens with the hope of eventually owning some of these properties, but I'd like  advice on how to evaluate the risk of high repair costs between 5-6 promising properties.  I've researched liens for sale at an upcoming tax auction in Indiana and the laws for that county.  I plan to have someone in that county take photos of the outside of the  houses and neighborhoods I'm pursuing.  I don't want to over bid and / or end up with junk. My questions are:

1) Since I can't inspect the inside, how can I make a guess as to the repair costs of, for example, a 3/1 SFR, 900 sq ft, built in 1955 compared to a 3/2 SFR, 2500 sq ft built in 1890? If they both look well maintained/restored on the outside do you usually assume the inside is well maintained too?

2) After you inspect them and determine occupancy, do you prefer to bid more aggressively on the vacant ones or the occupied ones ?

I know some investors care only about the interest rate and redemption period on tax liens, but I like to bid on just those liens where I would want to own the property. Any replies would be appreciated!

Bruce M.,  Can you tell me the names of the really good books on this subject that you are familiar with?   thanks, Tricia

I recently heard that investors can take money out of their IRA to lend as hard money lenders or to buy notes without paying the 10% penalty to the IRS. Is this true? Has anyone done this? Any replies would be appreciated!

I have a rental SFH in California, and I was wondering if any of you have Landlord Insurance policies that cover your property when they are vacant? I've heard that sometimes landlord policies do not cover you if the property is vacant or only cover you for the first 30 days after a tenant leaves in the event of a vacancy lasting more than 30 days. I've also been told I could not purchase new insurance if it's vacant when the insurance is to start. Any input would be appreciated!

Does it matter if you own another property but it is in another state from where you buy the duplex?

Hello Conor ! That's fantastic that you bought a duplex with 3% down and no mortgage insurance!  What type of credit score does someone need for that?  What sort of income level does an applicant need ?