All Forum Posts by: J Lee

Hello!

I'm looking for any referrals or recommendations for fire suppression specialists, specifically for sprinkler system installations in the Philadelphia area. Any recommendations will be greatly appreciated.

Thank you!

Hi,

I'm not a wholesaler, but I am looking at methods that wholesalers might generate leads. Does anyone have any recommendations on property contact programs and software? I have looked into lead generation/crm like freedomsoft/propstream, but they are too limited in what I'm looking for. Ideally, i would like to be able search on a map and click on properties block to block and find owner information.

Any input would be greatly appreciated. Thanks

 Thank you for the information!

 Thank you for the information! I think at this point, i dont think sheriff sales is a viable part of my strategy. 

Hi Stuart,

I have a small portfolio of several multifamilies and have done a few flips before that. I do have a very specific and curated buy box, so I know what i'm looking for in terms of zoning, lot size, buildable/improvable sqft, location, etc.

With that being said, do you still not recommend going through sheriff sales?

Thanks

Hello,

I am newly looking into sheriff sales, specifically on the mortgage foreclosure side. Off the bat, I had a few questions that hopefully someone more experienced can help: 

1. do auctions allow financing after winning the bid, or do they require entire amount to be immediately wired? 

2. When it comes to these types of auctions by the sheriff, is there a waiting period that must be observed before rehabbing/renting the building post winning the bid? If so, how long? 

3. I have been advised to do a title report on any properties I want to bid on, but am I able to do a title commitment? 

4. Dumb question - but are these auctions online only, or in-person? And do they accept counter-bids after initial bid is placed?

5. Any other advice that may be helpful.

Appreciate any responses in advance. Thank you

Thank you. As for the code violations - definitely have been reporting them as I see. I will reach out the city economic development department. 

Have you acquired any property this way before? What do they expect when some investor calls them about taking over abandoned property? Do they have push back?

I recently came across some information on conservatorship in regards to neglected and dilapidated properties. I was wondering if there was a strategy or way to work with the city to take over high tax liable properties that have been neglected or seemingly abandoned? It seems the resources to continue maintaining abandoned properties (weeds, garbage removal, graffiti removal, etc...) would add up and the city would like to offload that responsibility to someone. 

I rather not go to sheriff sale, as I'm tied up in my current properties and don't want to drop large portions of capital on empty lots/building falling apart. 

But the premise is that, I being a responsible and code abiding investor will take over liabilities to the city so that all responsibilities will be shifted over to me. There is a lot of land next to one of my properties that has been apparently abandoned and definitely neglected that is a headache as it affects the appeal to my building and the rest of the block.

If anyone has experience in this, would appreciate any insight.

 Hi,

so we got the master electrician involved by putting pressure on him to make up for the work that was supposed to be done. We did tell him that if nothing is done, we will be pursuing legal action against him. His response ultimately consisted of also abandoning the project, and hoping to bury his head in the sand. 

So by going after their bond/surety that means going after their insurance through a claim?

Been on a bad string of mishaps. Definitely learned contractors are some of the hardest to find.