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All Forum Posts by: Donald Patterson

Donald Patterson has started 7 posts and replied 26 times.

Post: Advice Regarding Wrongful Foreclosure

Donald PattersonPosted
  • Real Estate Investor
  • Fredericksburg, VA
  • Posts 26
  • Votes 2
Originally posted by @Wayne Brooks:

Details would help. Most perceived wrongful foreclosures usually aren't, but it's possible. Why do you think it might be improper?

 Hi Wayne....thanks for your comment. I do think I have a case, however, this is form a real estate legal layman's perspective. I would gladly share details but I'm not sure that in the open forum is the place to share such details. Thanks again.

Post: Advice Regarding Wrongful Foreclosure

Donald PattersonPosted
  • Real Estate Investor
  • Fredericksburg, VA
  • Posts 26
  • Votes 2
Originally posted by @Jesse T.:

Which side of the situation are you on?  In either case it is likely worth paying to get some legal advice.

 Thanks Jesse....

I believe I am on the right side of this issue. However, that is partially why I am seeking the advice.

Post: Advice Regarding Wrongful Foreclosure

Donald PattersonPosted
  • Real Estate Investor
  • Fredericksburg, VA
  • Posts 26
  • Votes 2
Originally posted by @Dave Toelkes:

Only an attorney licensed to practice in the state of VA can give you the advice you are seeking.

 Thanks Dave.... I am in the process of seeking an attorney in Virginia. I put this out here on the forum in the event that a Virginia attorney or a possible contact may be able to assist. Thanks again.

Post: Advice Regarding Wrongful Foreclosure

Donald PattersonPosted
  • Real Estate Investor
  • Fredericksburg, VA
  • Posts 26
  • Votes 2

Greetings.....I am looking for some legal advice regarding the possibility of a wrongful foreclosure. Thanks in advance.

Post: Refinancing Loan

Donald PattersonPosted
  • Real Estate Investor
  • Fredericksburg, VA
  • Posts 26
  • Votes 2

Thanks for the information Jerry. Yes, it's been quite an education, but I am glad to get this one under my belt. I will still have to look at funding options as a I am currently seeking/researching lenders for this property.

Post: Refinancing Loan

Donald PattersonPosted
  • Real Estate Investor
  • Fredericksburg, VA
  • Posts 26
  • Votes 2

Greetings Fellow Bigger Pockets,

I am in search of a lender or financing. I have purchased a duplex as a rehab property in Virginia with a rehab loan. I am almost complete and looking for longer term financing to payoff the rehab loan. Additionally, I wish to get a little cash out of the loan in order to do a few more improvements to the property. Any advice or any lenders out there willing to discuss or provide, please let me know. Thank you in advance.

Post: Under Contract

Donald PattersonPosted
  • Real Estate Investor
  • Fredericksburg, VA
  • Posts 26
  • Votes 2

Just wanted to throw it out there...got my first property under contract. Whew, now to continue with my due diligence. Just wanted to thank the BP community for helping me this far. It's been both frustrating and exciting. 

Thanks BP!

Post: Duplex rehab

Donald PattersonPosted
  • Real Estate Investor
  • Fredericksburg, VA
  • Posts 26
  • Votes 2
Originally posted by @Sean Ploskina:

What are the reasons for the 55K in repairs?  Breaking it all down for the seller will help them understand your offer.  

 Thanks Sean....I've got a list just to bring it back to decent rental shape, compliance with modern codes, etc. I will use that also as part of my negotiation.

Post: Duplex rehab

Donald PattersonPosted
  • Real Estate Investor
  • Fredericksburg, VA
  • Posts 26
  • Votes 2
Originally posted by @Regis Wells:

@Donald Patterson 

I currently reside in Stafford. I'm a licensed agent in Virginia and have been doing some research on multi-family properties in the area. If I can be of any assistance with anything let me know, and  I'll do my best!

 Hi Regis, Thanks for your offer. While I already have a realtor that I am currently working through, I would not mind discussing and learning from you also. The main thing for me seems to be finding that one or two or three funding avenues so that when I make offers, they are solid and backed with pre-approvals, letters of funds available, etc. Aslo, I've seen (for example) Baltimore has properties for flipping that sell for sub $50K. Would love to find some of that in our area. Thanks...

Post: Duplex rehab

Donald PattersonPosted
  • Real Estate Investor
  • Fredericksburg, VA
  • Posts 26
  • Votes 2
Originally posted by @Michael Noto:

What are the taxes?  What kind of area is the property in?

 Hi Micheal....form the realtors sheet, the taxes are approximately $1200 per year. The area is on the boundary of a rehabbing neighborhood. Just one block over they are rehabbing and building new.