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All Forum Posts by: Account Closed

Account Closed has started 8 posts and replied 61 times.

Post: Purchasing Foreclosed Home Before Auction

Account ClosedPosted
  • Investor
  • Bethlehem, PA
  • Posts 75
  • Votes 12
Quote from @Jared Hottle:
Quote from @Account Closed:
Quote from @Jared Hottle:

The most straightforward and easy way would be get it under an agreement. Make it subject to clean title. The seller may not be able to take care of them depending on how much in proceeds they will get but at the very least can get out if an agreement cant be reached. 

What are some ways you think I can get in contact with the seller? I've tried the broker but have not gotten a response. Found the owners name on the county page and tried to call but no answer. She is an old lady.

Thinking of driving by this weekend and door knocking

 Yes you are on the right track, Facebook or other social media, google search and see what comes up may get a work email or church directory, calling the numbers you find, calling her children. Then knocking after all those


 Spoke with my realtor about the listing and deciding to step back on it. It is not a preclosure or foreclosure just being sold auction style  and will most likely sell at msrsp

Post: Purchasing Foreclosed Home Before Auction

Account ClosedPosted
  • Investor
  • Bethlehem, PA
  • Posts 75
  • Votes 12
Quote from @Eliott Elias:
Quote from @Account Closed:
Quote from @Eliott Elias:

Pull a list of all homes in pre foreclosure, this is public record. Try and structure sub2 type deals 


 Okay great thanks for you input. I will try to learn more about that. Do you use a lawyer to write up the contract?


 We have state contracts we use as realtors here in Texas, not sure what you would use 


 Thanks for the information. The house I am looking at has an open house next weekend. It is 10% down then 45 days to finance the rest of the property. Little scared of what the interest rate might be but if there's enough equity I think it can be a good deal.

http://www.witmanauctioneers.c...

Post: Purchasing Foreclosed Home Before Auction

Account ClosedPosted
  • Investor
  • Bethlehem, PA
  • Posts 75
  • Votes 12
Quote from @Eliott Elias:

Pull a list of all homes in pre foreclosure, this is public record. Try and structure sub2 type deals 


 Okay great thanks for you input. I will try to learn more about that. Do you use a lawyer to write up the contract?

Post: Purchasing Foreclosed Home Before Auction

Account ClosedPosted
  • Investor
  • Bethlehem, PA
  • Posts 75
  • Votes 12

Thank you for your input. The seller is selling due to relocation is what the the property details say.

https://apps.realtor.com/mUAZ/...

when is the latest you think i could get it under agreement? The sale is set for oct 29th so a little bit more than a month 

Post: Purchasing Foreclosed Home Before Auction

Account ClosedPosted
  • Investor
  • Bethlehem, PA
  • Posts 75
  • Votes 12
Quote from @Jared Hottle:

The most straightforward and easy way would be get it under an agreement. Make it subject to clean title. The seller may not be able to take care of them depending on how much in proceeds they will get but at the very least can get out if an agreement cant be reached. 

What are some ways you think I can get in contact with the seller? I've tried the broker but have not gotten a response. Found the owners name on the county page and tried to call but no answer. She is an old lady.

Thinking of driving by this weekend and door knocking

Post: Purchasing Foreclosed Home Before Auction

Account ClosedPosted
  • Investor
  • Bethlehem, PA
  • Posts 75
  • Votes 12

Hi Everyone,

My Wife and I are looking at purchasing our third home. We have found a SFH home that is foreclosed and will auction oct 29th at 200k (comps are in the 300k range)

What is the best way to get the house under agreement before the auction? I found the names of the owners by going to the tax assessor website.  Thinking of calling a title company to ask about liens.

Our plan is to move in it, rent our current SFH. We also have a 2 unit fully rented. DTI is not of concern just looking how i can get it under agreement. The realtor has not contacted me back today.

Post: 2 unit property lawn care maintance (bottom and top)

Account ClosedPosted
  • Investor
  • Bethlehem, PA
  • Posts 75
  • Votes 12
Originally posted by @Bob Stevens:

@Account Closed owners take care of the lawn and snow,  on MF,,,,,,

 Landlord next door has a 4 unit.

each tenant cuts their grass that they're responsible for. And one cuts all the sidewalk so I disagree.

Post: 2 unit property lawn care maintance (bottom and top)

Account ClosedPosted
  • Investor
  • Bethlehem, PA
  • Posts 75
  • Votes 12
Originally posted by @Brad L.:

If I lived 8 minutes away, with that small yard I'd leave work 20 minutes early on Friday and do it myself.

Very interesting looking property the way it's painted and landscaped.

 I don't really have an issue doing that. The only thing is that there is grass in the front now instead of the bush. If I can reduce that it will take the extra work away

Post: 2 unit property lawn care maintance (bottom and top)

Account ClosedPosted
  • Investor
  • Bethlehem, PA
  • Posts 75
  • Votes 12
Originally posted by @Brad L.:

Is there any language about this lawn mower in your lease with her? 

Obviously not likely that it's worth it to buy a shed for the property for storage of the lawn mower, but personally I definitely would not ask her to lock it to a fence and cover it with a tarp. I guess it depends on what class your property is, if it's D or maybe even C then it probably wouldn't look super out of place.

There is nothing on the lease In regards to the lawn mower in the lease. It was verbal but I do not want to be a scum either. She is section 8, I get $1,100 from her and she has two young daughters. The mortgage itself is only $1,077. The other tenant pays $750 

 I'll say the property is c to b level . Address is 1145 Broadway fountain hill pa if you're curious. Let me know. 

either give her the lawn mower and some storage.

do it myself.

Pay my friends company $35 bi weekly

Post: 2 unit property lawn care maintance (bottom and top)

Account ClosedPosted
  • Investor
  • Bethlehem, PA
  • Posts 75
  • Votes 12
Originally posted by @Brad L.:

Almost all of our units have tenants doing lawncare, and I haven't ever had any issues even at our one upper/lower duplex. 

Our side-by-side duplexes are more straight-forward, each tenant cuts their own side front and back. For the upper/lower, I explain when the lease is being signed (and it's included in the lease) that I don't care how the grass gets cut but it is the tenants' responsibility. So if the upper unit wants to give the lower unit a case of beer to cut the grass every week, so be it. FYI my lease also states that tenants are responsible for any fines which result from non-compliance with municipal codes. i.e. they don't cut grass for 3 weeks and I receive a fine from the city.

I'm sure many will disagree with this approach but I don't see the point in paying out of my own pocket for something as basic as cutting grass. In your situation I'd either follow through with what you told her or hire it out to an actual company that has insurance, not the neighbor kid.

 Hi Brad,

Thank you for your reply. What do you think if I do give her a lawnmower,  with a bike lock so she can lock it to the metal fence and make sure only she has a key/knows the code to unlock it. Along with a tarp to cover the lawn mower. Win win. I paid $60 for that lawnmower I'll be giving her