All Forum Posts by: Stephanie Foret

Hi, and welcome back from Houma LA. How are things going for you so far?

@Christopher Kilpatrick

Hi, welcome to BP from Houma, LA. How are you liking BP so far?

@Account Closed I don't really know anything about tax requirements and such but just wanted to say Hi and welcome you to BP

@Robert Leonard I have thought about that and may start one in the coming months. I'm just starting a new job and the schedule adjustment is ROUGH at the moment its a struggle to keep my head above water with everything going on. Hopefully when things settle down and I get adjusted I will be able to do something along those lines. No I'm not familiar with FB

I think a current issue in Houma is the flood mapping. Ive talked to a good bit of people who have put buying on hold until the finalized maps come out, because there is potential for a HUGE insurance increases in some areas

Prash P It was a general absentee list some of them were out of state but that was not my target

Robert Leonard I don't think Im familiar with FB

Prash P I sent out 450 absentee letters got about 100 people telling me to take them off, people who were just wondering what they would get for their house, or people who were outraged at the prices I offered. I just put in to have the remaining 350 names mailed PCs equally over then next 5 weeks. I guess we'll see what comes from it. Im hoping to be able to get more into probate in the future.

I met another woman at the REIA in New Orleans she had just sent out her first set of yellow letters with similar results. I hope yall do well! Keep my updated I would love to hear about your progress

Reed Thomas Hi, Welcome. I used to live in Knoxville, Sevierville, Pigeon Forge and Gatlinburg for a few years ( I moved a lot lol) Knoxville is a great area I have thought about what the RE market is like in Knox and Sevier Co. Sevier Co. had lots of foreclosures when I moved back to LA. Anyway best of luck to you. Let me know how things go

Robert Ruiz I think that would be an interesting idea to have a south Louisiana BP meet up but I have wondered if anyone would be able to make it. It seems like not many people at the REIA in New Orleans or The RING in Baton Rouge have heard of BP.

and Im not 100% sure on "gee golly" or "golly gee" I think it could go either way ;-D

Thanks for your reply. I have thought about my sister feeling like she got the short end of the stick if we buy her out at $100,000 shed get 50,000- her half of the debt 40,000. So we'd pay her about $10,000. Then we could flip and probably make $30,000 I can see the resentment. I also don't want to try to partner with her....ugh.....nope lol.

The attorney doing our succession also does estate planning as well. He has brought to our attention that we have recourse on my grandmother's house since my aunt just went ahead and started dumping $ in with out any sort of agreement. While I'm a bit miffed that she dropped a $6000 stove in a middle class family home but left the counter tops that are from the 1950s or so and other bits like that. We agreed that we'd ask for an itemized list of expenses and she would be reimbursed off the top.

Over all it may be a better to just sell both and move on to avoid upset. I agree that family is more important than $

ok so I need some advise for the more knowledgeable than I. I inherited half of my mom's house when she died, the other half my sister inherited. I also inherited 1/4 of my grandmothers house my sister has 1/4 interest and my aunt has 1/2 interest.

My aunt has done a soft rehab on my grandmother's house, with out taking into account any my sister or I said because we don't know what we are talking about. My aunt has no knowledge of investing or real estate but doesn't believe I do either. Anyway, I believe the house can sell retail around $160,000

My mom's house needs a good bit of work but can sell retail $100,00 as is. At current there is $82,500.00 in debt against the estate, hopefully it will go down but worst case $82,500 ( Id rather over estimate than under estimate)

So run down of the assets
-1/4 interest in a $160,000 SFH
-1/2 interest in a $100,000 SFH with $82,500 against the estate

What would you do with this?

I would rather do a wholesale on my mom's house and just be done with it, but I think there is too much debt against the estate to make that feasible.
My husband and I were talking about buying out my sister's half of my mom's house and either flipping it or keeping it as a rental. We also talked about the possibility of buying out my aunt and sister on my grandmother's house if we sell my mom's house first and keeping it as a rental property.

I thought Id take this to the BP experts to get more idea flow. Id love to get other perspectives. Thanks for your time and answers they are appreciated.