All Forum Posts by: William J Hamm

Has anyone found the cost per square foot to rehab in Jacksonville, FL? I'm looking for $ figure to use when estimating rehab costs for wholesale deals.  For example, is $15 per square foot times the square footage of a property a good number for a cosmetic rehab cost?  What's a good per square foot cost for a light, medium or full rehab?  If anyone has found some good numbers, please add them to this forum.  Thanks

Has anyone ever heard of USAHUD.com?  I got a call today from someone offering leads from this website for a specific area or zip code.  I would like to hear from the BiggerPockets community.

Thanks

Welcome, Chris. I'm also a wholesaler in the Jacksonville and surrounding areas.  It's good you have found BiggerPockets.com early on.  This site will be a great asset to your success.

Tabor, Thanks for the input.  Lately I started looking for properties that have had multiple expired listings and the owners do not live at the property address.  I'm going to try this for a few weeks and see if it leads to any deals.  Do you have any thoughts on this approach?

Has anyone compared the VacantHouseDataFeed.com to the FindMotivatedSellersNow.com?  Both sites claim to find/locate vacant properties.  If anyone has any input, insight, experience or other with these sites, please post to this forum.

Does anyone have a process or any suggestions for approaching people that have an Expired Listing from the MLS? Is a property owner with multiple expired listings a potential motivated seller? I'm looking for new avenues for potential motivated sellers. Any insight, experiences, stories, strategies, process, direct mail letters, techniques, etc would have appreciated.

I recently started walking around a few neighborhoods in the area so my FitBit will be happy after I've reach my 10,000 step goal for the day.  During these walks, I always look at houses. Walking for $$$.  I noticed that some houses were next to wooded areas or wooded lots.  I have checked the county GIS map and I found that those wooded areas or lots are owned by individuals.  There are no for sale signs on any of the wooded lots.  The property taxes are paid up to date on all the lots I've found.

I would like some ideas or techniques for approaching or mailing the land owners.  I would like to purchase the land and build.  Bring your creativity, what works, what does NOT work, experiences.  I would like some options for the best chance of success.  Thank you in advance to the BiggerPockets family. 

William Hamm

I appreciate all the insight.  I assumed it was a scam but wanted to get input from the BP community.  Thanks for all your posts.

Recently I came across an individual that is offering private money loans at 3% interest up to $3M loans.  This caught my eye.  This lender does require an application fee to start the loan process.  To this point, I've not had a private lender require an application fee so this made me question this lender.  Is this a true private lender or is this someone trying to scam investors out of $$$.  I'm hoping that someone within the Bigger Pockets community has heard of this individual, David Tuttle.  I would like to know if anyone has ever heard of, had experiences or knows anyone that has dealt with David Kendall Tuttle in the past.  All input is greatly appreciated.

 More Research on this found the following:

The individual (Carl) currently listed on the deed would like to get his name off the deed if possible. Carl said that the bank tried to short sale the property 2 different times for $140k but the short sales fell through. He did have any details on why or who the bank was trying to short sale too. Houses in the area of the vacant house with about the same features and size sell for $240k to $280k. Knowing the short sale amount and knowing the potential ARV does peak my interest even more on the risk to reward. If the risk is that I eventually buy the house for $140k or lower then I would accept that risk. Thoughts?

Theory:

Would it make sense to have the property deeded to a land trust instead of an individual for a layer of protection?  While in the land trust, the property could be maintained and rented until the bank makes a move.  Let the pros chime in on this theory.