All Forum Posts by: Greg Carrier

I got into property by buying tax liens and tax deeds for which you cannot get inspections.  That made me very comfortable with skipping them.  Also I have had inspections in the past that missed things, so now if I can get into the house, I will inspect it and if not we still bid accordingly.  We buy a lot of rough houses  (demo list, condemmed, etc) so have seen about everything out there.  But the tax sale houses we have picked up are purchased at such low prices we have very little risk in them.

Good Luck

$1800 is high.  You should have easily been less than $1000 unless you have a really tricky deal that required a lot of research.  But I am betting that is not the case.

Whats done is done though.  If I had all the extra dollars I spent I would have one more house than I do now, but my life would not be any different.  Good Luck!

Congratulations on your purchase.  I am a former USAF guy (with some amrny national guard sprinkled in as well) and we do buy and hold up in South bend but have also bought houses an hour south and have looked as far south as Peru so have a small bit of experience close to your duplex.  Would be glad to look at and also discuss what you are planning.  I also prefer (as does everyone I bet) any heating that is not baseboard (can you let us know if that is water or electric).  That said though I have one with baseboard that the tenant is happy with and they pay heat so I may never change it.    If your interested in connecting just shoot me a message.  I am back in town next week and should have some time mid week or later than that.

Good Luck

I have only done one, with a similar low amount paid for down payment and the buyer stopped paying.  In my case the buyer did not contest and we were given immediate ownership of the hosue.  It just took the month to schedule the court date.  Moreover as it was far away I had a local attorney go and I did not need to attend.  Cost was about $1000 for attorneys fees/.  Good luck

I would keep looking locally.  The hunt for a great deal (IMO) is more fun than the rentals I own and you know the market better there.  I have bought things far away, but don't anymore.  And I get better deals than I had when I started as now I know a lot more people and they know I buy houses.  Just my two cents.

We looked at rentals and they were too much money so we looked at Sheriff's sales and they were still too much money so we looked at tax sales and after attending three bought our first two liens.  Got both houses and made money on both of them.  We still buy tax liens and other ways as well and currently have 17 houses and buy over 20 liens a years.

Welcome Tom.  I am sure I am past 20 houses and I still pay too much sometimes.  Though if it is not too too much it will still work and sometimes I get lucky as well.

Good Luck.  The first deal is the hardest so your on your way now!

I have one in South Bend I bought with a sec 8 in it.  No problems and the city has been easy to work with.  Rent comes directly and my tenant kicks in some too each month.  So no problems with it.

Good Luck

I do some seller financing and the payment my buyers pay to me includes taxes and insurance.  That way I know they are paid.  I explain that up front to  them and also tell them we do not pro rate.  I pay all the bills that come due during the note period, but they pay everything after they buy the house.  In Indiana we pay one year behind so if I did not do that I would have to kick over to them another 6 months to one year of taxes when they finish.  We rarely have push back on that.  Not sure about the "shyster" seller deal referred to above.  We don't do anything like that and I am not sure many others would and if you paid for several months and could show in your checking that you wrote the check I expect that the judge would give you the benefit of the doubt.  But nothing like that has ever happened with to us or with us.

Good Luck!

Being a good realtor requires a lot of time and dedication.  If you spend that kind of time and dedication wholesaling you will probably be ahead of the game as far as generating capital.  My two cents anyways.  good luck with whatever you choose