All Forum Posts by: Dave Grosse

Anyone ever heard of this company out of Parker, CO? Seems to be essentially a private money partner

Thanks

2 bedrooms, 1 bathroom - Asking ONLY $6,800

Rehab ready to begin! This one's been gutted and is ready for finishing.

Roof has been mostly replaced - remaining shingles are inside the house.

Will rent for $700-$750

More details at our website here - Metro STL Homebuyers

3/1 1500 SqFt house on dead end street just 15 minutes from St Louis, MO.

This one needs a bit of work but still a great deal 

• Electric
• roof 
• kitchen/bath updates
• flooring, drywall, paint 

Our estimates for the rehab work would put you all in this property at $35,000! (That's a DEAL) 

ARV of ~$75,000 (CMA from Licensed broker available upon request). Ready to move this one!

More pics and detailed report at Metro STL Homebuyers

Wholesale deal that I need to dump this weekend, just throw an offer at me if you're interested.

3/1 in need of about $12,000 in rehab. ARV $40,000. Asking $18,000 but open to offers!

See pics and needed rehab here - BellevilleHomeBuyers.com

3/1 ~900 Sq Ft property in St Joseph Gardens neighborhood, Cahokia, Illinois.

Does need repairs as follows, roughly $10,000.

*Roof $3000 max
*Ceiling Repair ~$1000
*Flooring throughout (except bathroom) ~$1500
*Update Kitchen - currently has metal cabinets, could be easily cleaned and repainted. ~$2000 if replacing entire kitchen
*Paint throughout ~$1500
*May need to update electric panel. Currently on 60 AMP fuses. ~$1500

Rents in the area go for $700-$750/mo. for similar, updated properties. ARV $50,000-$55,000.

Asking $23,000. Assuming we go over budget and end up spending $12,000 on repairs, you will enjoy a 24% Cash on Cash return ($8,400/$35,000)!!!! If you are out of the area I can recommend a few property management companies that work in this area regularly. I can also put you in touch with contractors to do quick, solid, reasonably priced work.

See tons of pics here - https://plus.google.com/101629969001747770101/post­s/ZpQxMYC3Egu

@Ellis San Jose thanks for the reply - I guess my main concern was the bank finding out (most likely via tax bill) that the mortgagee is no longer alive and then calling the loan due or taking back the property after I've put a sub2 tenant buyer in the place

Question for the pros - I had a call from my inheritance list. The loan is still in the deceased's name, but the daughter can't keep making payments on it. I'm thinking possible sub2 deal, but I don't know how the loan situation plays out in this scenario.

How long is the bank going to keep accepting payments if the mortgagee is dead? Of course I know they want to keep collecting interest on the loan for as long as possible...is there some process to transfer the mortgage into her heir's name? I'm probably overthinking this, I've just not come across it yet. Thanks!

makes so much sense, thanks Jon.

I feel silly

Is the cost of my own personal labor on property that I own a valid deduction?

I had a bid from a mold remediation for $4000 but opted to clean it all myself.

Thanks

"The Hero With a Thousand Faces" by Joseph Campbell

very roughly - Campbell spent decades studying the various mythologies of the world throughout the ages and discovered a universal "path" which he called "the Hero's Journey" and this book helps us find out what that path is and how we are all the hero of our own lives. I've barely scratched the surface but so far its an inspiring and insightful read.

"Breaking the Habit of Being Yourself" by Joe Dispenza

A study of how we become who we are and how we can make lasting changes.

He's a chiropractor and "...His postgraduate training covered neurology, neuroscience, brain function and chemistry, cellular biology, memory formation, and aging and longevity." He was featured in the movie "What the Bleep Do We Know?!" as well.