All Forum Posts by: Brian Caudill

Quote from @Shannon Wright:

I am working on a Sub2 right now...if the scenario works, it is a good way to get a deal done. One of my investors is going to light rehab a now vacant property with a reverse mortgage. He will be on title during rehab with the owner (so as to not trigger any due on sale, etc the reverse mtg) via a Sub2 deed with no title insurance (saves on closing costs, too) and upon selling, split the profits with the owner - both parties win!

I don't do enough of them, but in Cali, I think it is a different type of RE environment.

Can you do a sub to on a reverse mortgage?? I came across an abandoned house and actually pulled title, I saw that it was a reverse mortgage and I thought that there’s literally nothing you can do in that situation. I also talked to the neighbor and they said the father had past and the kids wanted nothing to do with it. 

Quote from @Ben V.:

7 years and the house isn't in shambles??? Wow... I'm more here to follow this thread so I too can find out what options you have are. 

But really that place must be disgusting. Or at least that is the perception I have of squatters. 

I forgot to add that in the post, it’s actually a family that has taken the house over and they have actually taken decent care of the property (from what we can see) the inside could be the complete opposite of course.  

Hey guys, my girlfriend and I are looking at purchasing a property for 25% of its market value. The only thing we are worried about is the fact that a family has moved in and has been squatting for seven years! We are getting with the owner and are going to verify that she has been paying the property taxes on time every year. We feel like it still might be a little difficult to get them out. Has anyone had to deal with people squatting for years? We don’t want to purchase the home and find out the squatters have the ability to acquire it via adverse possession. Any advise or tips would be greatly appreciated!! Thank you!! 

@Maria Bakaj

Thank you Maria, I greatly appreciate the advice.

Has anyone had any experience buying fire damaged property? If so, what are the pros and cons?

@Paul K. How do you like the rent by room situation?

@Kelsey Mortimore

It’s interesting to hear all these different opinions, so why don’t you meet everyone in the middle. Let’s say there’s a crash next year that could lower the average value per home 10%. Simply wait for a deal that is too good to pass up that will cover you if your property loses 10% of its value. These deals won’t chase you around but you can find them if you’re patient. And keep in mind that the market will always contract and expand, even if you lose value in a year or two, doesn’t mean you won’t get that back if you plan on investing long term.

@Megan Wilkerson

Have you found a reliable property management company yet?

@Gene Hacker

Thank you for the reply, I was looking at the 93308 area. I feel like that’s a decent place to get started, not the greatest area but most tenants I feel will be long term. You only rent in the Kern Valley river area?

@Dwight Norman Jr.

Yeah I don’t think you can but I’ll definitely follow you guys on here. I appreciate the help gentlemen