All Forum Posts by: Joshua Vanderzanden

Sorry didn't mean to post that.

Walked into a 'deal'

Hey guys I stopped by a gas station about 4or 5 weeks ago and over heard a gentleman talking about how he needs to sell her mom's place since she passed. I'm wanting to get into investing in real-estate. I told him that I was an investor and had friends that brought property. Well I don't have any and wanting to know what to do with this off the market deals. I gave him my contact information and told him to reach out when he's ready.

Since then I forgot about it until he gave me a call last week stating that he was looking to sell his house as well. He as told me that they have about 2 SFH plus a multi unit that they want to sell. He said if I can get him a good deal on his he will work with me on the others.

I walked into this and don't know where to go from here. Please help.

The multi unit is out of state and the SFHs are local.

Hey guys I stopped by a gas station about 4or 5 weeks ago and over heard a gentleman talking about how he needs to sell her mom's place since she passed. I'm wanting to get into investing in real-estate. I told him that I was an investor and had friends that brought property. Well I don't have any and wanting to know what to do with this off the market deals. I gave him my contact information and told him to reach out when he's ready.

Since then I forgot about it until he gave me a call last week stating that he was looking to sell his house as well. He as told me that they have about 2 SFH plus a multi unit that they want to sell. He said if I can get him a good deal on his he will work with me on the others.

I walked into this and don't know where to go from here. Please help.

The multi unit is out of state and the SFHs are local.

@Brian Van Pelt Oh it is for sale. The price was $199,000 but was changed to $130,000 after the fire.

Hey everyone, while looking for a deal I came across a property that is a 3 unit 9 bedroom 6 bathroom with a 3 car garage. There was a fire in the first floor unit and went all the way to the roof with a hole in it. The fire was in the back of the building. I still have not been able to go into the building, I was only able a walk around myself. While looking at the building, I was asking neighbors and found out from one that the fire happened from squatters in the kitchen.

They are asking 130,000...the next door building sold for 350,000. Which was the same building updated but they turned the dining room into an extra bedroom making all the units 4 bedroom 2 bathroom. Rent for them is 1600-1700 each.

Am I wasting my time with this? Should this be a great deal?

How long does it normally take for a rehab like this? 203k loan only allows 6 months for the work to get done.

Please help

Hey everyone, while looking for a deal I came across a property that is a 3 unit 9 bedroom 6 bathroom with a 3 car garage. There was a fire in the first floor unit and went all the way to the roof with a hole in it. The fire was in the back of the building. I still have not been able to go into the building, I was only able a walk around myself. While looking at the building, I was asking neighbors and found out from one that the fire happened from squatters in the kitchen.

They are asking 130,000...the next door building sold for 350,000. Which was the same building updated but they turned the dining room into an extra bedroom making all the units 4 bedroom 2 bathroom. Rent for them is 1600-1700 each.

Am I wasting my time with this? 

Please help

@Todd Dexheimer thank you.

@Jason Marcordes you are not taking over. I like this discussion on here. This is helping me learn more going forward.

 What experience should I be trying to get if that doesn't work owning 2-4 unit buildings? What is the right way to go with it? I know just sitting here doing nothing is not good either.

Are you saying go with the 4 unit then move up right away and stay with the smaller units?

@Filipe Pereira thank you.