All Forum Posts by: Fred Bear

Just got a 4 plex at auction. Need to close in 30 days. Normal banks say they cant do it in time. Does any one know of person or group that can lended in that time frame.

I have just bought a 4 plex in rome Ga. It needs to be repair before I can rent it. I'm look to get a loan ro repair the building, so the first step that I see is that I need bids to do the job. Has anyone work with some good general contractor in the area?

Taxs are current. I checked that first. It was taxs at $107,000 and the average 4 plex in the city goes for $122,000 so that number is in the ball park. So next step I guess is going to the city planning office and make sure it not going to become a road anytime soon. 

Just saw the ad on a realstate website, on Friday the open house is tomorrow. The other properties that are for sale are but the rest of the neighborhood is looks fully occupied. Eveyone cuts there grass. Kids play in the yards. It in a small city. I drove the neighborhood for 2 hours look around to see if anything stood out. I say it a B neighborhood. 

Why is it empty?  My best guess is it a estate sale. There 3 building right next to each other that are for sale by the same auction house. But I don't know for sure. Doing the open house tomorrow. I'm bringing a contractor with me to give me a estimate on want, if any repairs need to be made.

When walking thru a empty 4plex building what questions should I be asking about the property?

I'm new to bigger pockets. I was practicing with the with the differnt deal analyzation tools when I  came a cross what I think is a good deal. It's a 4 plex that up for auction in 5 days. 4plex in the area go for around $122,000. The average rent is $500 to $650 a month. The auction wants %20 down at the end of bidding. I have $20,000 tie up in silver, but I don't want to sell it and then not get the house. Any idea on how I can come up with the down payment with out selling the silver outright. Have you here of hard money leander holding solver for collateral.