All Forum Posts by: Joshua Quinn

Hi Stephen,

It's always good to know you aren't alone in being new to something. I was actually looking at recent bank owned properties both in Southern and Eastern Maryland. I'm liking the idea of being able to buy property that has been taken by the banks and be able to use it to help those who need a place to rent, especially since those properties tend to run slightly less than the market value.

My current prospect is a single family home located a few miles outside of Salisbury. It appears the bank is trying to sell it for almost 1/10 of it's prospective value, so I am going to be looking at the property this week and I posted in another thread asking if there is anything I should be particularly weary about, especially with the property being so cheaply priced.

What are some of the REI niches or markets you are interested in investing in?

Joshua QUinn

Hello everyone. My name is Joshua Quinn. I am a college student and a full time employee in the Computer Science field and looking to expand my knowledge (and potentially income) into the field of real estate. Partially due to my field, without a college degree, I don't make quite enough to purchase larger properties and thus have decided that smaller estates that require renovations would become my target. I have joined BiggerPockets after reading the first few chapters of the Real Estate Investments: Beginner's Guide and realizing that I should get established in the site and on the forums so that I can reach out to the community to provide what ever I can and so that I can glean what is out there to help my knowledge grow.

I want to start out by apologizing if this is the wrong thread to post this question under or if a similar answer has already been gleaned under a different discussion.
I am extremely new to buying and renting properties, so new that I actually have never bought my first piece of real estate. I have however stumbled upon a bank owned property near the University I am considering attending. This property is listed at a sale price of about $17,000 but as an estimated value of $160,000. I have yet to see the property but am sure I can expect some damage to have been done to bring the value so low and have it still on the market for the past 100+ days.
I was wondering if anyone may be able to tell me what to look for and ask about in regards to this property when I talk to the bank about it and when I go to look at the property. Is there anything I should be looking for that would make this an all around bad decision to buy?