All Forum Posts by: Billy Murray

Hey everyone! I'm hoping to get some advice to get me pointed in the right direction. I'm looking at 2 REO properties that have been on and off the market for years. They don't conform to most banking standards so can't get traditional financing. Details are below.

There's a small studio house that is on its own mining claim. This building is fine, but there is a small detail I'll outline below, because both properties deal with the same water problem.

There's also a big 4/3 that is halfway on the previous property's mining claim, and half on someone else's mining claim. This house isn't even on the mining claim that is included with the house. 

They're both using water from someone else's land (as well as 2 other buildings in the area). I'm not sure how water rights work out here, and whether or not I would have to have a well dug in or not.

My goal was to buy the bigger house and it's 42 acre mining claim to flip and sell. I then wanted to rehab the small studio to make it into a 1 bedroom to keep as a rental.

I'm thinking I would have to try to buy the small mining claim half the big house is on, or get them to allow an easement. The building has been this way since it was built, so I don't know how encroachments work in that sense. The only hard part seems to be the water issue. It most likely wouldn't be a problem to buy and hold as rentals, but the big house could bring a great cash profit.

Anything that anyone could help with would be great! I've been digging into deeds with the county clerk to see if any water rights agreements have been made, but I'm stuck. Thanks!

I have a church under contract in a small town in Nebraska. I was clear to the owner what I was doing and who I am in this process. I told him I would be looking for a buyer for him. Here's the thing:

My client is the city superintendent, so he doesn't want the town to know he's selling the church (he lives in it) because he doesn't want anyone to know he's looking to move. So the main dilemma is that I can't reach out to local people. He dropped his price $30K lower if I can keep the town out of it. 

I have it under contract at a great price ($45,000) but i'm having a hard time finding the best venues for getting it sold.

I've been talking to brokers that work with churches, but can't seem to find any in that area. I'm willing to work a JV deal with anyone who can help me get it sold.

Any suggestions?

Hey everyone! I've got what I hope is a great idea to start a website that markets local rentals in Colorado. One question though....

Can I legally market the properties? 

I'm hoping that if I get a showing request I can get the landlord to show them. I know that I cannot show the property unless I have equitable interest. My main goal is to have all the properties in one place that locals can check. Then I can work out a deal with the landlords for payment upon getting a tenant to sign a lease.

What do you guys think?