All Forum Posts by: Katharine Gonzalez

Driving around I came across a few properties with online auction signs not active on the MLS. The properties are listed as bank-owned on the tax assessor's site and some of the auction dates have past. I'm wondering why the banks choose to auction some properties and simply list others? Are any properties not bought at auction? How might I go about finding out if a property sold at auction?

My partner and I are starting out and looking to make a connection with an investor-friendly realtor in the Town of Montgomery area in Orange County. NY. 

Question: I've been scouring my local county assessor's database and have come across properties whose owners are listed as banks. After researching a little further I have found that a property has been foreclosed on, may even be vacant, but is not active on the MLS. My question is this: Are these properties acquirable? What reasons could there be for not being listed on the MLS?

Thanks in advance!

Hi! I'm a newbie looking at a potential property and the next step I need to take is to contact the realtor. I was wondering what sort of questions I should ask. The property is a 2 family built in 1910 and owned by an absentee landlord a few counties over. It has a notice posted of having been found vacant. It looks to have renovations started a while ago, but never finished and a lot of potential damage to the roof.

Questions I have:

How long has the property been vacant?

When were renovations started/ended?

What reno work was done? By whom?

Why is the seller looking to sell? (Not sure how appropriate this question is, but he purchased it in 2002 for $105 and is selling for $35)

What sort of rent can be expected? ( I have a pretty good idea)

Thanks in advance!

 I should have been clearer. The property is listed and it is my understanding that I need to go through the listing agent. He will need to let me in to do a walk-through. Am I wrong?

 That's what I wasn't sure about. How much equity would you say a seller must have in order for it to be viable as a wholesale?

Hi! I'm a newbie looking at a potential property and the next step I need to take is to contact the realtor. I was wondering what sort of questions I should ask. The property is a 2 family built in 1910 and owned by an absentee landlord a few counties over. It has a notice posted of having been found vacant. It looks to have renovations started a while ago, but never finished and a lot of potential damage to the roof. 

Questions I have:

  How long has the property been vacant?

  When were renovations started/ended?

  What reno work was done? By whom?

  Why is the seller looking to sell? (Not sure how appropriate this question is, but he purchased it in 2002 for $105 and is selling for $35)

  What sort of rent can be expected? ( I have a pretty good idea)

Thanks in advance!

 That's a vehicle I haven't explored yet, but will d

Yes, it makes sense as a shortsale. I think what I'm really wondering is how is wholesaling actually helping a seller. If I'm motivated to sell my house, how does a wholesaler appeal to me?

Hi. So I'm a newbie and have a question...if there is a motivated seller whose house is upside down and perhaps have stopped making mortgage payments what happens to the mortgage? How do I help the seller by offering them my max allowable offer,which is likely to be less than their existing mortgage? Am I missing something?  Thanks in advance!