All Forum Posts by: Yia Her

Generally speaking HML typically will want to analyze your deal to make sure they don't fund something that doesn't have equity or is not in their best interest. They don't give you the cash without having some sort of collateral. Buying homes at the courthouse steps, you typically will need to have funding in forms of cashiers checks. I have not bought from the courthouse steps before so I'm not sure about the full payment, but from what I know - you do need to sign over the checks to the courthouse auctioneer when successfully bidding. Good luck -

I looked at this property as well.  You have a high chance at this one.  Area is up and coming like wes blackwell mention.  Good luck!

Thanks for your information.  Will touch basis if I have any other questions.  

@Bruce Clark good deal.  Is Ohio a deed state?  And if so, how long did it take for you to become the new owner?  I'm not too familiar with the actual process itself but am reading and getting outside knowledge about investing in  tax sales.  Thanks 

@Bruce Clark - question about your tax sale.  Did you know before hand that this property was stripped down to the studs before buy the at the tax sale or was this something that you bought by accident.  Just curious as I am looking at a couple of properties that are coming up in tax deed sales. 

I ha e found that staging my flip homes help sell the property with a lot more interest in oppose to not staging, non the less they still sell quick stage or no stage. I think it depends on your market if the homes are flying off the market, you can do minimal staging (accessories) and it will still sell. In my market it's beginning to neutralize so staging goes a long way.

It's alway nice to learn the business by partnering with folks that may have more experience or can help in areas where you don't have yet. I highly recommend it. In your situation be sure to get a very good estimate of material cost up front because base on your numbers especially the ARV, your profits could be eaten up easily, leaving really no margin to split for both parties. Sometimes, selling the property to your good friend contingent on you having full access to see how the work is completed and how the process works may be best as you still walk away with some profit and learn at the same time. I would re-evaluate your numbers again to make sure there's enough meat on the bone after all is said and done. Good luck and great find on the tax sale.

Ahmad Azad these comps shows a radius within half a mile. But you're talking Tahoe park comps to Fruitridge manor. Two different location with huge price difference. Even Tallic Village is about 5-7% higher in price. Tahoe Park comps are well in the $300s. Anyway, not trying to troll on your deal here. Good luck

Welcome to the world of REI. Tremendous opportunity and great resource to learn from on here.

Agreed, this is my niche market and ARV @ $270K is unheard of. Plus how is this a deal when its on the MLS market as REO and is placed on online auction hubzu.com