All Forum Posts by: Andy Ballester

I looked at a place in Pittsburgh decent neighborhood seemed to be a pretty good wholesale deal listed at 29900 from pic's when I got there probably a few squatters living there at the time destroyed a lot mostly cosmetic told wholesaler would not be interested in the property at that price in that condition offered 20000 he responded if I can renegotiate I might get 21 or 22 thousand I told him 20000 is my number and he assured me squatters would not be an issue 2 weeks go by he calls yesterday and tells me I can have it for 20000 I go back over to property only to see that there have been squatters in the house also 2 windows broken that were not broken before house is dirtier than before and a slight bit of more damage than before I give him a call told him I offered the price I felt comfortable with based on the condition of what the property was in. So I told him I would honor agreement with the contingency of both Windows repaired and a complete clean out of all personal items so squatters would not return. He replied he would talk to owners and see what he could do. In the mean time however in a similar neighborhood I have found a duplex for 40000 and needs a lot less work and I really want to blow the wholesaler off, and I'm sure he worked hard to get price reduced by 10000. This would be my second property purchase. I own first one out right and both of these properties are cash only deals I could by 1 and pull equity out of both homes  i own outright and do all the deals but I would pretty much be completely broke and not have any cash reserves for repairs or emergency repairs I would prefer to only do one deal questions comments advice replys. Thx  BP community 

Tell her to cut her losses, I believe it's haunted I'll take all the risk and give her half her money back.

I think it's a great idea personally, to use the money now here is my own personal philosophy I have a TSP account been at job for 5 YRS only have 25G in account another 5 yrs will have about 60 I plan on retiring from job and pursue real estate full time, In my area I can buy a property for 30G, I am only 38 I'll be 43 but won't be able to collect until I'm 59 1/2 and they will probably send me about 200 a mth if I cash out with taxes fee's and penalties I will probably get about half that 30G gets me 200$ a mth cash flow now rather than waiting 20yrs. A lot ofun people will say no but I say go for it.

I would contact a buyers agent, and have him contact the city and I'm sure they will settle on back taxes, it's not hard to call them yourself and ask for a settlement I would just let them know your interested in purchasing this property, I know the owner of this property says no liens, but you would need a title search to be 100%sure before you even make an offer don't take his word. 

I also believe to know the place your talking about, it is a pretty big property and would be on higher-end of comps if done right, but the area is more of a rental area you may be sitting on it for some time, goor buy and hold for the right price but currently not at the right price it's almost there 10000 less and you will have a good deal

You can contact the city or district and they may negotiate to lower or settle remaining taxes say for 10 to 12 thou cash and offer seller 5 thousand and his headache goes away he is obviously in trouble and not able to afford and will be losing the house really shortly try to make this a win win situation for everyone 

Thx for reply eviction process has been started, hearing on 24th of this month, I just don't want this to be a drawn out process, new investor first time dealing with eviction, and Pennsylvania I hear a lot of different stories about people appealing and dragging the process out for months, also I have an uncle who has been in the game for a long time and tells me he always gets them out within 30 to 60 days. So just want this to be a quick process to get another tenant ASAP. Just a bad time of the year in Pennsylvania nobody wants to move when its 0 degrees outside.

Sorry also have not received any rent since Jan 1st

I have had a tenant in place since June, from June till December rent always paid on time placed was kept up seemed to be an ideal tenant, no problems whatsoever. However tenant goes to jail, property manager says I know he has a hearing January 22nd what do you want me to do, lets just wait to see what happens. Nothing happens not sure of charges, not sure how long he is going to be there. Just know he did not get out, property manager goes over to change the locks and his girlfriend and child are living there along with one of her girlfriends and child. So 2 late 30s women and 2 teenage girls living in the house remind you none are on the lease, PM tells me all we can do is evict, there is a hearing on the 24th of this mth. My question is no one here is on the lease and in my eyes they are trespassing. I know different states have different laws as if they receive mail they live there etc. Just not sure where to go from here. Advice....THX # Pittsburgh # Pennsylvania # Allegheny County

Thanks for all the response, By some of the responses I know I wasn't, to clear on some of the issues this is a bank foreclosure, I have low balled before verbally and i trust that they were submitted, because I would always receive a counter offer. I do not believe the offer would of been accepted, but I wanted to feel them out to know where they really stood on the property, with that being said my current interest is on another property but I just wanted this not to be a reoccurring issue with other offers being that this property is still on the market.