All Forum Posts by: Saad R.

I wanted to provide an update and a summary as a reference to all.
I saw the listing on Trulia, the listing did NOT provide the street number, just the street name, number of beds/baths and square footage.
Using Zillow, I found the street number because the house matched the beds/baths and square footage. I did a reverse lookup to find the phone number on Whitepages.
So I called the owners to get more information about the house, it turned out the owner had no interest in selling the house, it's no being foreclosed on.

Justin,
The estimate on Zillow is $520K and county tax records is $420K. Houses of the same size in that neighborhood are selling for $500K-$700k

I have no idea if the house needs any repairs and if so how much, That's something I will need to check if it is worth pursuing.

I am not going to the auction, I can't afford it. I don't have cash for that.

As to the exit strategy. Well the strategy is to NOT exit :). This would be for a primary residence.

Jon and Josh,

Thank you for being so straight forward, don't worry about hurting my feelings :) I am here to learn.

Justin,
The starting bid is 81.5K, does that mean that's how much is owed on the house?
Upside down!!?? If that's Real Estate lingo, I have no idea what it means :). Sorry, total newbie here.

60+ views but no replies yet!! :(
I know, I am so impatient.

Hi everybody,

House valued at 420K, going to be auctioned on 7/15. Starting bid 81.5K, yeah! A heck of a deal.

I feel i should go talk to the owner and try to get this house before auction day. I have no experience whit this...HELP!

I'd appreciate your advice, I am all ears. How should I go about this?

Thank you all for the warm welcome and your suggestions. I am still working on getting myself familiar with the different areas of this site, I don't want to post my questions in the wrong section :)

Hey guys and gals!

I live in Chesapeake VA, I work as a Training Developer in a call center that offers tech support for consumer electronics. I develop computer based training, demos and software simulations. I like what I do...but...the income is...not enough :)

My wife and decided it is time to stop renting and purchase our first home, especially after our second baby was born, we have outgrown our three bedroom apartment.

Because we have six more months before our lease expires and our budget is not big, I have been spending a lot of time reading up on Real Estate. By the way, it gets confusing sometimes.

Anyway, to make this a little short, I am interested in owning couple acres of land through Tax deed sale and building a house on it. If I am able to buy more that one property then that will kick off a new business venture for me. I would love to do that.

I would like to get a good understanding of how I could buy land from a land owner who's not interested in keeping their property and is willing to let the government take it from them due to unpaid taxes. I read over and over again that as an investor, I could contact the owner directly and score a piece of property for cheap. I am sure it's more complicated than that :)

I am a very technically inclined person, If you could please organize your thoughts in bullets or numbers, it will make it easier for me to understand. I thank you for that in advance.

Glad to have found this site, looking forward to learning from all of you.