All Forum Posts by: Chris Seveney

First off are you holding a tax lien or a tax deed. In many states the tax deed is what you receive and have ownership of the property. A tax lien requires a foreclosure process to obtain a tax deed. Assuming it's a tax lien you will need to read your state laws as in many states it is illegal to contact the owner regarding payment. Unfortunately tax lien investing is slow and there is always the unknown of when you will get your money. You can always sell your tax lien to other investors. 

I concur, send a letter of intent before the contract. 

get a 95 CFM fan and also put it on a timer. They have timers to have the fan turn on for 15 minutes every hour. That way you don't have to worry about whether tenants turn it on or off. Also having it connected to the light works as well. 

You are correct but...

Do you have a contract and scope of work? If I were to hire a project manager I would want them managing the budget as well. While a homeowner may order stuff, they should have a set aside budget for materials

If you don't have a contract - I would recommend writing a detailed scope of work with a schedule of values and work for a fee and if you come under budget then try and get a percentage of monies you saved them.

awesome. I use Evernote in a similar fashion. I also started using podio to keep track of properties with agents and contacts etc. 

thanks so much for the article

Good stuff 

I am not in the area or have interest -I do have a question though -  is acting as a listing broker and trying to purchase a property that is your listing a conflict of interest ? 

I would think it would be.

how Long do you plan on holding the property ? Is the house have forced hot air as its heating source? If the house had forced hot air I would wait until the furnace goes and do it at that time. Definitely not a must for a rental but when you go to sell it that is when it will be more crucial 

I would be very skeptical when all units are vacant and "this is the first time". Ask for rent roll or records to confirm what the vacancy and maintenance and capex on the properties are

so it appears our looking for owner to finance? What is the sales price or is this an off market deal. I see your math is off as at 5.5% loan for $1,368 is equivalent to $245,000.