All Forum Posts by: Daniel Kent

Few things, forced are with a furnace repair/replacement, and might bundle in a compressor replacement with it as well.  

Hi All,

Looking for some HVAC recommendations in South Jersey.  Thanks in advance!

Thank you Blair, Very helpful-

Happy labor day weekend everyone!  

There is a single family rental property that is Real Estate Owned that I have been interested in.  I went through the property once and was scheduled to go through the property for a second time with a contractor to get a Scope of Work and Repair estimate.  

My RE Agent noticed that the listing was changed from "Active" to "Active - No Showings" on TREND.  It also stated that it will be back active on Sept. 10 (about a week from now).

She  emailed the listing agent who replied and said that all scheduled showings are cancelled because "the bank accepted an offer and contracts were drawn up."

I am skeptical, because why not keep the listing as "Active" until attorney review and change the status to "Pending"?

What I am wondering is since it is a Bank Owned Property, if the bank wants to come in, do another analysis/appraisal and possibly a price change?

Does anyone have experience with anything like this on Bank Owned Properties?

Thanks for any info!

Hi @Jibu V.-

What I have found is that lenders do not want to be the second mortgage holder on an investment property.  So the best option for Cash Out is to do a refinance with a cash out.  At this time, it does not work for me, since that option will create a negative cash flow on my property.   Maybe time to sell?  

What type of situation are you in?

*This link comes directly from our calculators, based on information input by the member who posted.

Thanks Wayne Brooks - I understand just because they are foreclosures they may not be bargains. That’s why I said they would be opportunities IF the deals made sense. What I am more curious about is should I be concerned that there are so many on one block?

Hi All,

In my search for deals and I have come across a REO property that I think works for the BRRRR method. It is in an area that I believe is improving and has some future development (large luxury apartment complexes set to develop in the area). Researching this property, I found that their are two properties on the block that are in the process of being rehabbed, but there are also 4-6 other properties that are either REO or in pre-foreclosure, some, right not door to one another.

My thought is that these are all properties that I can acquire at a low cost, rehab, rent, and then refinance to return the capital.

Is there something I am missing, or any reason I should be concerned that there are so many REOs and foreclosures on the same block?  Or should I look at this as a great opportunity if the deals make sense?

Thanks for any input!

Great insight and info!  Thanks everyone!

Hi All,  I have been researching a few areas that I believe will be good for Single Family Rentals (specifically in South Jersey).  I have been seeing a few areas that have (or will have) large "luxury" apartment complexes going up.  They seem to be mostly 1 and 2 bedroom units.  I think these complexes should increase the value and revitalize certain areas, but I am curious the effect it would have on Single Family Home Rentals.  Would these type of complexes make it more difficult to find tenants for Single Family Home rentals in the same area?  Or would it benefit it?  Would love to hear everyones thoughts!  Thank you in advance!