All Forum Posts by: John Hogg

Anyone have experience at non bank owned foreclosure auctions at auction.com? Any thoughts on things to look out for, or reasons to avoid auctions?

We are making our attempt at due diligence on a particular property. We have a preliminary title report from our title company. We are looking at getting in touch with a real estate attorney, but looking to get as informed as possible.

My question is, does anyone have a definitive way of determining seniority of liens or verifying exactly which lien you are buying at an auction?

This would be our first auction purchase and trying to figure out exactly how to analyze these.

Thanks.

Thanks so much for the warm welcome Andrew.

Thought I would write a post to introduce myself, new to the forums.

My name is John Hogg, Me and my wife Xanthy Hogg have recently started investing in real estate in a much less passive role.

We have already poured through all the podcasts, blogs and forum discussions we can and gained so much from it all. Thank you to everyone who contributes.

I am a licensed plumbing contractor who performs fix and flip remodels on the side currently. We just closed the sale on our second flip and are currently looking for our next project.

We are currently working towards pursuing more fix and flip opportunities as well as buy and hold rentals.

Thanks again to everyone involved in the forums, I hope to be able to contribute any of my knowledge and pay it forward where I can.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $82,000
Cash invested: $150,000
Sale price: $220,000

Steunenberg Historic District Home
3 bedroom and 2 bath
.25 acre

Investment Info:

fix & flip investment in Caldwell.

Purchase price: $80,000
Cash invested: $120,000
Sale price: $170,000

Single family ranch style, 3 bedroom 2 bath.

What made you interested in investing in this type of deal?

We were interested in this type of investment due to our contracting background. We felt our skill as value add investors would net the highest ROI.

How did you find this deal and how did you negotiate it?

We found on MLS and negotiated price down due to repairs needed as well as buying house "As Is" using cash.

How did you finance this deal?

We used cash and Heloc on personal residence.

How did you add value to the deal?

Performed full remodel on home doing much of the general contracting ourselves.

What was the outcome?

Sold home successfully netting our targeted profit margin.

Lessons learned? Challenges?

Our greatest challenge was balancing our day jobs with this side hustle.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Will Swygart (Real estate agent)