All Forum Posts by: Andre Ross

@Kris Wong thanks

@Kris Wong ARV is 132K, not shore of the rehab total budget but the foundation alone is 20k.

no sir

Morning All,

I own a multi unit property in Cincinnati ,this is my first  rental property and I don't know if I should sell it or keep it. here the rundown why Im on the fence.

first thing I did was take action, but the actions I took were all wrong. lol

1. tried to wholesale the property,got it under contract for 25k. later found out that it had foundation problems so I ended up buying it for little or nothing.

2. did a soft search with a title company , findings were 8k in property taxes.

3. did a warranty deed transfer and recorded it with county , Now i officially own it.(later found out I should of did a closing instead.)

4. remainder of title search comes back with an additional 16k in liens. 

5. tried to wholesale it no luck, foundation scared a lot of investors.

6. got a realtor, they suggested I get a engineer report and plans to show potential buyers, did that cost me $1800. all low ball offers taking it off the market.

7. never done a rehab  so that's why Im undecided. 

any advice ,criticism is welcomed Im looking to learn from this.

thanks 

Thanks BP!

Hello BP, I have a homeowner who is weeks away from the foreclosure process, they haven't made a payment in a year, they have equity in the property with a couple of liens. Currently they have a realtor and a offer which is below value. Realtor contract is up in days. Is this a deal or no deal? Thanks in advance "The newbie"

Hello BP, I have a homeowner who is weeks away from the foreclosure process, they haven't made a payment in a year, they have equity in the property with a couple of small liens. Currently they have a realtor and a offer which is below value. Realtor contract is up in days. Is this a deal or no deal? Thanks in advance "The newbie"