All Forum Posts by: Greg Soon

In my area a cheap rental cost $150 -300k. Vs many of you at $30000. Proportionally, it is better to look at things in percentage of cash flow over purchase price

Another update:

Finally caught the previous owner in the house, but she would not respond to my door knocking, refused to come out. Even though I knew she was in. Looks I got a tough case.

@BOB CRANEY

Can you give us some example dealers? Thanks

@Garrett Lickliter

Thanks Garrett

@Glenn Hoffman

Me too

@Jay Hinrichs

Indeed this is from auction.com, waiting to be closed in a few days. The bank has owned the property for a while so the previous owner lost her possession for some time already.

I will get the deed in a few days when closing, afterward I will pay one more visit to the property to see if the previous owner is there. In any case I plan to file to the court for ejection just in case she or another person trying to claim they live there later.

This is in Maryland, This is auction of a bank owned property

Just update everyone on the progress, per my lawyer's suggestion, I sent a regular mail as well as a certified mail to the property address asking people living there to contact me. So far the postal delivery has not been picked up. I found the phone number of the previous owner but she is not picking up calls.

The certified mail will be there for 15 days for her to pick up, afterwards it will be sent back to me.

I am starting to think the property has been abandoned. I wonder if she does not pick up the certified mail in 15 days, will that be considered proof that the property has been abandoned and therefore I can enter?

Just update everyone, I found a local credit union that will require only two months of seasoning for a cash-out refinance. Hope this will work out as they described when I apply after meeting the two months criteria.

I am getting some leads on pre-probate and probate properties. I searched for the forum and it is very helpful, for example, I found a sample letter that I could use. 

How much should I be offering? Will I get properties cheaper than going to auctions? I assume I am competing with other investors so we need to have room for profits