All Forum Posts by: Joseph Carlsen

So Ive been looking into buying a house on auction.com or other sites. I hear or read a lot about possible liens, not having clear title etc. My attorney says they have to guarantee clear title.... so why do I hear otherwise?? Also what is the difference when the house is listed as a Forclosure and a REO. ( I understand these terms obviously but whats the difference to list them that way on auction.com?)

school isn't to great also.... always have to think about end buyer. All depends on #s and what your strategy is i guess

hey guys sorry this is my busy season so putting in serious hours. Yes @David Shulski auctions are annoying. Ive been to 6 and only 2 actually happen, rest I guess were canceled. Would you recommend any online services for due diligence to see info on auction houses. Id like to get into them but would rather piggy back with current investor to learn ropes and add value either through funding deal and/ or leg work. Basically now I'm putting in foil requests and waiting few weeks for info, liens from river head etc  @Jack Hatton I know patchogue, its a good buy and hold area for LI which is basically non existent for cash flow. They have a lot of legal multi families where you don't have to live there. Good area to house hack, as in get in cheap as primary residence under FHA or fannie then jump ship after year+ into full rental. They have been dumping a lot of $ into main street and village but be careful once you leave strip areas get little ****** BUT can find deals that cash-flow especially if you don't mind programs and maybe future appreciation as long as area keeps on becoming more trendy. Heres a little inside info for you. Its not 100% but comes from credible source, Budweiser is looking to buy Briarcliff building and turn into huge blue point brewer/ restaurant which would add a lot more jobs and attractions which may give area serious bump

hey @David Shulski, I actually grew up in coram and looking at a REO in nostrand ave in selden. Seen some big investors out front that I've seen before so it may slip through my fingers. Yes I've run into same issues, would love to hook up with a seasoned investor and work to learn not earn. LIREIA with melissa shea as president has been pretty good, I would recommend that. She is very knowledgeable although busy understandably. Ive seen some large homes out in Center Moriches for good deals but i don't really know the area personally. My business partner and I are chomping at the bit to purchase a house but time lately has been limited, this is my busy season starting and Dennis is a linemen for PSAG and works 60+ hours. Financially its great but terrible for starting another career lol. Have to admit in the last 10 months we've done pretty good as for networking, building a team, putting necessary things in place, ongoing education etc. Just feels like we started a little to late and missed a huge opportunity with all these distressed properties at deep discounts, record low interest rates etc. Now were speeding, looking to fill in the gaps. Do you use any good online data searches for house info? Do you do any direct mail?

I'm currently looking for my primary residence and possible investment properties with a partner. once your interested in a zombie house what do you look for at the town hall and why, which department is it found. For instance liens, owners info, certificates of occupancy, permits, past code violations etc. Basically trying to learn due diligence more to build our own deals and further a future rewarding side career in real estate. Together we have enough funds to purchase a home cash and thinking about acquiring rehab money through a hard money lender by giving first lien position to protect them and hopefully receive a better rate. Have a LLC set up and have been hitting the streets and learning as much as possible for about a year. Still having problems with the small behind the scenes details