All Forum Posts by: Delia Washington

I found a property in Toledo Ohio that we might be interested in purchasing for our first investment. There will be renovation expenses so we will need to find a good but reasonable contractor. Do we secure our financing in CA or Ohio? Is there any advice or pitfalls to look out for when making a long distance purchase? This is scary but exciting at the same time.

I am 54 and own 0 properties. I just joined BP a couple of weeks ago. I have always been interested in rental property but never explored the option to purchase rentals, the issue has always been money. It is great to see there are so many people interested in rental properties and the ability to network.

I am looking to purchase my first property within the next six months. There is so much to learn and I am eager to get started. I do have a question, what county office do we search to get property owner information? Is it the county assessor's office? Has anyone used this method to generate leads on distressed properties? How do you go about it?

The step basis is something to seriously consider. Before my dad passed away, my parents made sure to set up a Living Trust so nothing would have to go through Probate. Although I hadn't considered one of my sisters suing me over the house. 

My mother wants me to buy her home rather than inherit it with my two sisters. Her home needs repair, the master bathroom shower needs to be redone down to the sheetrock, the kitchen needs to have the tile floor removed because several broken tiles cannot be replaced, the yard needs extensive landscaping, and the foundation on one corner of the house is split horizontally and shifting out causing cracks in the wall.

My mother owns the home free and clear. She wants to sell it to me at below market price, pay for the repairs herself and rent a room at market rent or above to be able to continue living there. I'm thinking of considering her offer, because once the repairs are done, I can refinance and pull equity out to purchase rental property.

Is this doable? What are the potential pitfalls? What should I look out for?

Thank you in advance