All Forum Posts by: Isaac El

@David Huff - wow that's one thing I did not think about, and that is the last thing I want to happen.

@Tom Gimer - Got it, was not sure about how it would all work and  that was one of the things I was worried about as well.  Don't want to do all of that work and end up with a problem on top of it.  (by the way nice website, once I land my first deal I would use you, but I don't think you cover NY) maybe you can recommend somebody to me in NY for the future.

Hi,

I am new to real estate investing and need some advice.  I have been driving around and taking notes of houses that are vacant/distressed.  One house I found, I looked up the owner information and it was an elderly couple that passed a few years ago (they had taken a reverse mortgage and  the house is starting to go into the foreclosure process)  then after doing lots and lots of research I was able to find one of the children in another state, he had known about the property but doesnt really care about it, said "he is willing to work with me if he will get some money or can sell it to me" then he told me "i have been gettting lots of calls from real estate people, I want you to know I have 2 siblings and I have not spoken to one in 10 years or so, and the other in 4 years, and none of us have any contact information of eachother" 

My question is, can I do a deal with just this one hier, or do I need to find all three?   How does this work? Any advice is greatly appreciated, this house needs a lot of work, but this might be my first "real estate deal"

Thank you!

@Joshua Hardy  THANK YOU SO MUCH!! going to check out yellowletters.com and @Michael Quarles

@Joshua Hardy - wow this is an amazing posts, I have been "driving for dollars" in areas I am interested in and have been putting together a list of properties that look to be distressed/vacant.  My next plan is also to start a direct marketing mail campaign, and have been thinking of different ways to put the letter together, how often to mail it out, etc, any feedback you can share is appreciated.

@Daniel Hyman - really appreciate the advice on finding out if they are motivated to sell and any other advice you can give on direct mail campaigns.  On some of the properties I called and got the owners, I got shut down right away "oh we are already working with somebody" or on one  that I got closer I the owner was asking way above the price they are selling for, but I guess its a start and part of the experience.

@Eddie. T. thank you for your response, I will definitely look into those books and I downloaded my first pod casts today - and wow they were great, really excited about this.

Thank you for taking time to respond to me.

Hi,

I am a new member from New York, I am reading the bigger pockets book and it is incredible, very well written and lots of great information, which lead me to this website.  I have been browsing forums and all the information on this website.  I know starting out there is a lot to learn and I am glad there is a website like  this here.  Really appreciate any advice and tips as I venture into the world of real estate investing.

NICE TO MEET ALL OF YOU!

-Isaac

Hi,

I am a total rookie and new to real estate investing, any and all advice is greatly appreciated.  I have been researching in areas I am looking to invest in and found house that is abandoned, in really bad shape, so I figured contact the owner and maybe they would sell it to me cheap and I can fix and resell.  As I did more research on the property I found out it had belonged to two very elderly people who have both passed away.  Next I tried to find children, I was able to locate one in another state and he is willing to sell me the property.  He told me  there are 3 siblings total including him, and he has no contact with or has any contact information what soever of the other 2 siblings.  I am going to try to locate them, but here is my question, how does this work? Is this worth pursuing? Do all 3 siblings need to agree to sell me the property?  Can I make a deal with this one sibling only?  (also upon researching I found out there is a reverse mortgage on this property and it is in foreclosure too).

Again any information/advice is greatly appreciated.

Thank you,

IE