All Forum Posts by: Linda Govan

its 900 sq ft. 

Oh my Gosh! Cory this is some great information.  I have a rehab analysis did for my blast listing. I will definitely recheck my numbers.  Thanks so , for the great input. Happy investing to you Cory. 

Thanks Brent. 

Hello  BP members, 

I have a property that came my way via my yellow letter campaign I ran 2 months ago.  Its a total gut rehab project. There is no mortgage and the owner doesn't want a dime. Problem is I just found out that he has a $9k water bill attached to the property.  The taxes are in the rears by 3 years at $ 4300. The comps are barely there but from what I have found is at best $110k. Rehab cost my contractor is at the high end of $35k. I added an extra 10% just to be safe.  Could I hold the current owner liable for the back taxes or just inform any potential buyer? I am looking to market to landlords. I am in Chicago and rents are climbing.  This could be a buy and hold. Its a 3br/2ba with a 2 car garage.  I go Saturday to sign the contract.  The owner just wants it out of his name. Any help is greatly appreciated.  

Hello Wendell, you can also try your title company  Good luck 

Hello Germaine,

Great Job getting the property under contract. You could start looking for buyers by checking the MLS for recent cash transactions or even a title company can give you the information. These people might be investors. As long as you now have interest in the principle of the property. Shop it through the different tunnels but make sure to do the numbers correctly for profit.

Hello Lakeem,

When doing a double closing check with the title company and if you need closing funding use "transactional funding" company if you dont have the $$ to close on the deal.  Closing Cost usually comes out of the assignment fee Couple of hundreds.  If you are doing a closing from the buyer you need funds to do so in order to sale to your end buyer.  Your doing the double close so you dont have to disclose your finders fee right? Good Luck and hope this helps.

Hello Joshua, 

I have a list of a 1000 names now. I only did 350 handwritten by the way.  1 month and some days.  I wanted to see if I should remail or move on to the next.  I have a budget set in place for the 1000 but wherever I can save  $$ I want to.  My next will be absentee owners for the next 1000. I am looking at the plan of 300 per month.  Should I be doing more?

Good Evening BP Community,

Heres the deal; I have started a yellow letter campaigne for equity owners 1995 and below.  Short list but, I am looking for some equity to be in place for some wholesale deals.  Lets say its not working out from this list for certain Illinois zips.  I was wondering for any Illinois investors who would be willing to share where the bulk of the leads are being generated from.  I am willing to keep resending another 2x before I order another list.  Yes, I am a newbie and trying to build some traction.  Thanks in advance for any responses.

Welcome Cheryl,

Read all you can absorb here on BiggerPockets.  The experience is priceless.  Good Luck to you.