All Forum Posts by: Derrick Gordon

Apologies if I seem a bit dense. @Brent Coombs & @Craig Anderson.

1. You purchase a house at a significant discount 55% of ARV. (Hard Money or Cash) : $550

2. You renovate the house: $100

3. House current ARV after renovation: $1000

4. Refinance the house at 70% of ARV: $700

5. Leave $300 in the house, walk away with profit of $50 and your $650 from purchase and rehab.

ok. I found where I was messing up. I was just doing the full ARV and not 70% of ARV, I didn't realize I should have manually done that math myself into the calculator. I was wondering why BP number were so different from my spread sheet number. Im all set now, Thank you gentlemen.

When you say "tax records" @Shane Cloutier and @Kerry Noble Jr, what exactly am I trying to find? Is it the record of who is actually paying the taxes or a record of who the county says should be paying the taxes because they "own" the property. I have not had issues finding "owners" but its very difficult finding the contacts for the actual people who are on the tax records.

@Scott Bottomley REI SKIP & BEEN VERIFIED

BennVerified to find family members, but no real luck.

I have attempted the sec of state route @Jason Hirko, It has worked for some properties, but I am getting nowhere with these that I am fighting for now. I was not aware of wiki ... I will see if that brings me any luck. Much appreciated for that insight.

How do you formulate an offer if you can not find anything sold in the area that even remotely matches the description of the home you are trying to purchase. I would hate to pay too much for something and have to do work on it and can not get my money back. Some of these homes are dilapidated and in remote areas with no recent sales. Any advise would be greatly appreciated.

I really have no idea what to do with this and who I should contact to see if they would be interested. Where do I find zoning rules in Georgia?? If nobody wants a elders home, maybe it can be used for something else. I want to help, but do not have any idea how to do so at this time. Any ideas??? 

REI SKIP & Beenverified. @Shane Cloutier

@Cheryl Moore skip tracing is a way to search for someone using different touch points from the information given. I generally give the address of a home and in doing so, I would get back a name of the perceived owner,  along with a few numbers and emails associated with that address. Sometimes it brings me gold, but sometimes it's just coal. lol

Thank you very much @Shane Cloutier. I will see what fruit this search brings. Much appreciated. How is the Market in NH? Do you invest there or outside of your area?

I have found some properties in my target area (Bergen County) that seem to be abandoned / dilapidated. I have skip traced and had no luck getting usable contact information ( on two separate platforms), they are either owner occupied vacant or non owner occupied with PO Box or company name. I can not find any information on companies from the State Sec of State website. They do not seem to be bank owned as yet and we all know how long that takes to hit back the market once the bank takes it. How can I reach whoever is the owner of the properties so that I can release them from their burden lol.

Please help with any tips or guidelines you have to help me take the next step.