All Forum Posts by: Ashleigh Evans

I'm still a pretty new investor... This is my first time dealing with an REO, and my first property in New Haven (I'm going to school there). How do I find out which bank actually owns the property?

Hi everyone,

2 weeks ago, I got a call from my realtor that my offer on a triplex had a good possibility of being accepted. The deadline was last Monday, and we expected to hear something either the following day or Wednesday.

It's been silence on the net since. My realtor, who is also an investor, has no idea what happened to the bank's realtor or why we haven't heard anything. The MLS doesn't show that it's pending or anything.

Any advice? 

Can anyone provide insight on the Mill Hill neighborhood near Bridgeport? I’ll be working in West Haven later on this year and I would like to house hack. I’m ok with  lower income neighborhood - it just has to be physically safe.

Thank you!

@Deborah Pyburn,

Someone on BP wrote the most insanely in-depth article about how to look for and buy a tax lien in Atlanta.

Not all heroes wear capes.

https://www.biggerpockets.com/forums/20/topics/395837-how-to-buy-a-tax-deed-at-the-fulton-county-tax-sale-atlanta-ga

Oh wow! I just saw all of these responses - thanks everyone!

@Jerry K. I never got the house appraised but its Zestimate is 109K. I’m not opposed to selling it but since it is profiting, right now I don’t have any plans to sell it. Upon researching the last recorded owner, we realized he died a few years back, and there was no one else to claim the property. 

Investment Info:

Single-family residence buy & hold investment in Atlanta.

Purchase price: $5,000
Cash invested: $50,000

I bought this property as a tax lien in July 2015. There is a great post on BP about buying a tax lien in Fulton County. My grace period ended in July 2016 and I began renovation December 2016. I’ve had a tenant since May 2017.

What made you interested in investing in this type of deal?

This was the first type of "REI" strategy I'd ever heard of. I met someone who told me they'd teach me everything I'd need to know, so I listened.

How did you find this deal and how did you negotiate it?

Raised my hand at an auction. Didn’t even know which house I bought (don’t do this).

How did you finance this deal?

Cash - it was 5000.
I took out a personal loan for the rehab (don’t do this either, at least not if the interest rate is going to be 13.5%)

How did you add value to the deal?

I didn’t.

What was the outcome?

My first tenant moves out in March. There’s no mortgage on the house, and she paid $995/mo

Lessons learned? Challenges?

If you have any questions, just message me!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Kerry Greaves was my GC. He’s also an interior decorator, and he was AMAZING. Definitely a good person for first time rehabbers in Atlanta.

Investment Info:

Single-family residence buy & hold investment.

Single family dual masters 2br/2ba in Goose Creek

What made you interested in investing in this type of deal?

This was my first deal, so I definitely didn't apply the skills that I've since learned in Bigger Pockets. I bought a SFR with a VA loan for 111,500. PITI is 625. I lived in the house for six months before I got orders to Florida. I now rent it out for 1150.

How did you find this deal and how did you negotiate it?

I used an agent. The biggest thing that attracted me to the house was that it was significantly less than most areas in Charleston. While other naval officers were paying 1100-1200 in rent, I was paying half the price.

How did you finance this deal?

VA loan

How did you add value to the deal?

Mmmm... I don't know if I did this part as much

What was the outcome?

I make about $500/mo

Lessons learned? Challenges?

Property managers are difficult to find in the Charleston area

I think veterans United does them. They are incredibly hard to research. From what I can Find, the rehab is capped off at 35K and it’s only for cosmetic and energy-efficient repairs

Hey @Shepard Solomon,

Did you ever find a lender? How was the process? I actually have the same question.