All Forum Posts by: Christie Gahan

Honestly, this sounds waaay too complicated.  There are disagreements between father and son, re plans for the home.  There are communications issues with the 50/50 split.  Do you have to use Dads business ?  How much of a discount do you get ?  All of these issues, and more, need to be locked down.  In Writing. 

This is a great way to lose a friendship.

It sounds like a good deal for Dad.  He makes a profit as the GC.  He's not taking much risk.  You are taking the risk.  You would be in a much better position as a hard money lender.  My advice, for what it is worth, is to get your feet wet with something cheaper.  Nobody is building spec houses right now.  Guys with 30 years experience aren't building spec houses.  

Hi All:

I am looking at a property that was a Repo with a VA Loan. I've seen houses on HUD sites, etc that show a report on what needs to be done and what has been done etc. Is there anything like this for VA ? Do they generally make repairs? Remediation ? The listing agent is tight lipped. Thanks for help!

wholesale 100%

I buy REO duplex. Orig owner says he will fight bank foreclosure. ( Totally too late for that.)

Orig owner says he wasn't properly served eviction notice because he was in jail.  Therefor, I do not have the right to enter unit or change locks.  My prop manager says that could be a problem.  Orig owner is currently a guest of the US govt in a half way house.  But, now says his girlfriend lives there .... blah blah you get the picture.

How can I prevent his friends / squatters from moving in and then I have to evict squatters ?  I just see this as a giant loop.

I wouldn't mind selling to another investor but how to show unit ?

Can you find the orig owner ?  In my area, some folks buy and sell the right of redemption.  If you could own the right of redemption the title co may be okay.  I'd try and get an extension with the seller.  Nobody wants to walk away from earnest money.  But this might be a time ....  You could find a lot of other deals between now and April 2019.

Appreciate others ideas on this one.  

I am wholesaling a duplex.  One side is quite uncooperative about leaving.  They are arguing that they weren't served correctly for eviction, blah, blah.  

How to best handle this in regards to potential buyers wanting to get in to see property ? It needs work. If listed on MLS, I could say that there would be no interior inspection with out accepted offer but that seems silly in this case.

Agree with others comments.  I would just ask if you are actually going in properties ?  Photos are nice but not the same.  You need to know what they are not showing you.  ; )   

Try Rain City Capital.  Not sure if they have a program set up for this but worth a call.

@MatthewOlszak :  Some of the situations you describe are simply fraud not a bad business model.  A business is only as ethical as the people running it.

Do you have a really great accountant that can brainstorm with you ? Time to find one or more. This sounds like it might be a 2 -5 year plan. Have you considered being a HML ? Or, selling with owner financing ?