All Forum Posts by: Eddie Miretsky

Hi Everyone,

New REI here looking into TK properties. Have gone through this thread and have started looking into R2R. One thing I noticed is it seems that R2R do not actually own the properties as some other TK companies do, but work with the sellers. What do people think about this? Has it been an issue for anyone?

Also, the rehab which is performed, is it done by R2R managed contractors or again being done by the seller? Just trying to understand how much oversight there is on the process.

Thanks a lot,

Hi @Andrew Freed and @Daniel McDonald, great to hear from local folks. I’m technically in Natick, but that wasn’t an option. I do agree that MA is very expensive and hard to find anything reasonable. I recently started looking at LoopNet which seems like a great resource for Low to medium MFH and apartment buildings, have you used it before?

I’m married with kids and own a primary residence, so no house hacking for me! Looking for long term rentals and appreciation with possibly a moonshot goal of leaving my 9-5 at some point  

I would definitely love to connect and would be interested in attending these meetups. 

Thanks 

Eddie

Hi Investors,

My name is Eddie and as mentioned I'm looking to get into REI. I'm actively thinking about my target areas and possible deals, but would really appreciate if there were any groups or mentors available interested in discussing the ins and outs of favorable market locations, financing, ideal type of investments and getting that elusive First Purchase!

I have questions such as, should I really be looking at my home state, or can I expand to surrounding states as long as it's drivable?

Is it recommended to start with a SFH or is it manageable to begin with a Multi unit home or complex?

If some funds are available, is the standard 25% down 30 yr fixed loan optimal or would you recommend different financing?

And many more...

Look forward to hearing back and hopefully meeting some like-minded individuals to bounce ideas off of!

Thanks,

Eddi

@Will Sifert - Hi Will, thank you for the detailed description of differences in Lien sale processes, this was one of the most education posts I've seen yet, although I'm quite new. To be honest, most of the posts I've read are mostly negative towards lien purchasing, but I'm assuming someone out there is making money on this correct? 

You've been doing this for a while, I'm assuming you're making a decent living? Is this your full time job? 

Do you mainly focus on Tax Lien certificates or OTC deed acquisitions, both? What do you do with the property if you acquire the OTC deed? Do you sell quickly as-is or use for rental income? 

Is it really true that most Tax Lien certificates get bid down to a very low percent meaning I'm never going to see the 16-24% interest max that the state has? How is it possible to make 

Thank you for your time in answering any of these questions.