All Forum Posts by: Eugene Thurston

Good morning BP! I am going to be sending a letter to a potential seller of a home that is in my area. The owner lives out of state and the home is one she inherited after her father passed two years ago. As best as I can tell she hasn’t done anything to the home in that time. My question is, what do I put in the letter? How personal do I make it, or should I keep it very generic? If any one has an example of a letter they’ve used that would be great! Thanks so much! Discovering this community has given me a huge boost in confidence to pursue Real Estate! 

I've seen some houses come up on Realtor and Zillow that have an ADU in them, that seems like the easiest place to start. The ADU laws in New Hampshire are different in every town however, and in the town I live in, you must reside in the property to have an ADU, so check the laws in the town you live in if your plan is to move out and rent both units. Good luck!

The Real Estate Rookies podcast is a great place to start. Ashley and Tony are excellent hosts and the guests are always informative. They’re both very good at breaking down the important information and asking questions in a way us newbies can understand. 

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $283,000
Cash invested: $60,000
Sale price: $399,000

Large single family that had been previously converted to a two family but never went through the process of being officially turned into a two family. We paid the fees and added the required safety features, painted the exterior, repaired the back deck, made repairs to the upstairs kitchen and added a sump pump with drainage in the basement due to flooding issues.

What made you interested in investing in this type of deal?

We were looking for a house with added income from a rental

How did you find this deal and how did you negotiate it?

Listed on Zillow as for sale by owner

How did you finance this deal?

VA loan

How did you add value to the deal?

Paint, some landscaping, repaired deck, kitchen remodel, new flooring and exterior paint

What was the outcome?

We needed to move due to family reasons and our initial plan was to do some small repairs and keep the property as a rental. We overextended ourselves on the repairs and ended up selling the property

Lessons learned? Challenges?

Don’t over extend yourself making repairs. Better to rent it as is and make repairs gradually but keep the property.

The house is in New Hampshire which is a tax deed state I believe. 

Good morning Bigger Pockets,

I am interested in purchasing a property that looks like a good rehab project. The property’s owner passed away a few years ago and their daughter now owns the property but she lives out of state. There is currently a tax lien on the project. What is the best course of action for me to follow? Do I contact the owner, and if so, how do I go about doing that? Or should I contact my city tax collector? 
thank you for your help!