All Forum Posts by: Chris Seveney

I am looking for a standard agreement for the sale of vacant land in pennsylvania.

All the ones I find have "SAMPLE" written across them. I have no problem paying for it but cannot find a location where I can actually buy this form.

any help is appreciated.

thanks

@Derek T.

Can you send me links to Maryland website where I can search tax and lien records

Thanks

I Would be interested in the same if you find someone in Maryland or virginia

Same could be said for Harrisburg or philly. 

If you got a groups of 5-10 developers and did several blocks in a non-war zone it could work as part of a revitalization plan.

If it were ever to be done you would need city help/involvement as well to get their buy in on the project which would eventually lead to more police patrols = lesser crimes 

Electrical outlets - if only two plug vs three plug they are not grounded, which means electrical is old and will eventually need to be replaced.

How much money are you putting into the deal and how much are you financing ? Why can't your lender close in over 45 days ? Have you tried different lenders ? Send me PM as I may have some options for you as long as your not looking for 100% financing.

is the second lot buildable ? You need to check zoning to make sure the lot is buildable - many times a home on a double lot may encroach on the second lot, thus causing you to knock it down in order to have two buildable lots. Just because a home is on a double lot doesn't mean it's a buildable lot

Yes. We are in contract on our first FAnnie Mae property and its in the contract. We are buy and hold but even if it's a fix and flip you can still market the property but just cannot close until day 91.

Also if you finance 100k, your PITI will be over $600 (as your int rate will be 5-6% on investment property)

if you do not manage it yourself and take into account vacancy rates, capex,  Etc you will not be cash flowing $300 a month, you will probably break even

If you sell don't forget about realtor fees at 6% as well as closing costs etc. How firm are you with your numbers as typically you do not want to exceed 70% costs after repair value and in this instance it appears you will be close to that.