All Forum Posts by: Arron Paulino

I am currently liquidating my portfolio, which formerly held my rentals. I was able to package three of them in one deal, which ended up breaking even/not profitable (A little bummed on this one since I think the buyer (an investor) won the better side of the deal in terms of gaining equity on the houses). I have four more that I need to liquidate with a goal of having them all sold by the end of this year. They have been on the market for about three months now and I am working with my realtor to get them sold sooner.

The remaining properties have loans on them with one being free and clear and vacant, two being vacant with mortgages, and one is currently rented with a monthly mortgage payment due. I am trying to see if it makes financial and/or market sense to rehab them and possibly rent them out or just leave them as-is. I am leaning towards as-is due to the lack of funds in my current situation. Once sold, my goal is to have these mortgages paid off from the BRRRR method that I did and move on to different investing opportunities. At first, I wanted to just save it to build up enough investment funds to move to my next deal, but open to suggestions.

Any advice on steps to take to move in the right direction if you were in my position is greatly appreciated. Would like to hear from any investors that have been in this type of situation.

 This guy really needs to be put away!

 I get what you mean. Can never be too sure when things are supposed to be done and you have to step in to get them done the right way.

Thanks for your reply. I'm going to call utilities and let them know that I have already sold this property and send them any necessary documents as proof (i.e. deed of transfer). Strange how this wasn't an issue when I sold a property prior to this one.

I sold this property two months ago so I'm surprised it hasn't registered yet to the new owners and still goes to me. I'll have to make some phone calls to clarify things.

I just thought this would all be handled by title when we closed.

 That is what I figured. Strange that it didn't automatically transfer over since I had sold another property before without having this issue.

I recently sold a property, but I still receive notices for paying property taxes and utilities. How should I go about addressing this? It should be the new owner's responsibility now, but it doesn't seem like these have been transferred over. I thought the title was supposed to have handled this. I did contact the utility company and they suggested to give them a call during business hours and have the utilities disconnected since I no longer own the property. I just didn't want to turn it off and then interrupt the new owner. Please let me know what I should do.

 I appreciate your reply! All of your response does make sense with my current situation. I've been able to speak with a conventional lender and they said the same thing so long as it appraises at a certain number and is livable we should be good to go.

 I appreciate your comment. I've been studying videos and personally gone through these nightmare pop-up expenses via my rental properties so it's been actually helpful in my journey trying to find my own home to live in. Thanks for sharing the example and completely get that these disasters can come up and really open my mind to what could happen. This helps with deciding on whether or not to actually move forward with a property.

 That makes sense. I'm trying to find trusted contractors. My guess is it'll have to mainly be word of mouth referrals from other investors. Google searches can only take me so far I think.

I've actually got pre-approved first to know what range of home prices I am qualified for. I was able to walk properties also with my buyers agent and get their opinion on how the home will do in a buy and hold type of situation. I've definitely noticed sellers asking more than what it is actually worth when compared to another property in the neighborhood that has been rehabbed better. A real estate agent friend of mine said exactly what you said in terms of making money when you buy. There is nothing wrong with waiting for the right home as it always comes up is what he suggested so I really need to be patient and trust the process.

That is similar to the strategy I am implementing so we are prepared for the right purchase.

 I appreciate your response. That is what I am uncertain about but know I have to be prepared for it in terms of the hidden costs beyond the external fixes for the property. I think hiring a trusted contractor is my next step in getting actual numbers to see if the deal is worth pursuing or not. It will help alleviate stress and help me ease into finding the right fixer upper that is worth the time and money to invest.