All Forum Posts by: Kyle Affronti

@George Blower Thank you sir

@Mariah Sanchez I'm working a property right now with foundation issues. How come you backed out? Did the numbers not work out? I have a quote for $15k to have the foundation done on the property I'm looking at. And probably another $20k of interior and exterior work to make it liveable. My seller is asking $9k title is free and clear taxes are paid up. I'm about to put it under contract so far everything has been verbal. Should I say away from it? I would love to buy it myself and rehab it but I can't come up with the money myself to do it so I was considering trying to wholesale it.

@Isaac Chun I believe it is a Subject To setup. Or even Land Contract might work. However, with that being said, them trying to do anything as far as the title goes, could end up making the mortgage company or bank call the loan due. Now, will they? Probably not. Can they? Absolutely. At any moment. So make sure you are prepared and have contingencies in place in case that were to transpire. Speak to your attorney and make sure to get title insurance as well. I would make sure you are in a position to refinance on the property to cover it incase the mortgage company does call the loan.

@Ned Carey That is a very true statement. And you're right I'm not disputing that. It literally just fell on my desk today and so it was something I wanted to run past people to see if there was some option I was missing before I walked away. We can't win them all and they are not all deals. I get it.

@Caleb Heimsoth Yeah I'm probably going to tell him there isn't much I can do with it at this time. He's probably better off going with a realtor because he is going to want retail for it. If he needs someone down the road to assist then I can hop back in.

@Griffin Thomas Well that's what I'm trying to figure out. I'm open to many options honestly. I want to help them out but also make money. The property doesn't need repairs it's well kept. Brand New garage etc... They are not open to lease option or owner financing so I can't do anything there. I'm guessing I would need to find a buy and hold buyer but I'm fairly new to this as well. They contacted me through a friend.

I have a property that the owner wants to work with me on. It's currently off market and I can put it under contract in an instant. How should I approach this deal? It's not rehab, it's a well maintained property with a new 3 garage from 2015, manufactured home on slab, not requiring any repairs it's fully move in ready, owner occupied. 11 acres, nice rural area. 3 bed 2 bath taxes around $2k/yr. I can't find any sold comps in the general area going back 5-10 yrs... possibly due to the small rural area. However the assessments on all properties in the area with the similar property setup is averaging $154k. Asking Price $165k. No owner financing or lease option. Property in upstate NY.

This would be my first potential deal in the real estate industry.

I came across a property... Spoke to the owner, and I may be going to see the property in the next couple of days. Here is the current picture.

I found a property that is for sale, the owner is asking $55,000 with lease option as a possibility, it's a single family 2 kitchens, 2 baths, 3 bedroom, but the property is zoned 2-Family Residential and can be split into a multi-family split-level apartments. It needs work, Roof may need replacing, Driveway needs to be redone, cosmetics, painting patching etc... and some dampness in the basement but may just need sealing. I plan on bringing a contractor with me when I go see the property for a repair estimate.

I'm setting up a meeting with them this week, but I'm still a little unsure as to how to best approach the situation. Can you provide some insight? Trying to determine the best way to negotiate the property because I believe he still has a mortgage on it I don't see a discharge of the mortgage in the records, but that also brings up a question for me as to how can I offer a lower amount of the property than what he owes on it. He moved down south, no longer is in the area, seems motivated, and his neighbor is who will be showing me the property.

Single Family Comp last year same street 3 bed/2 bath sold for $97,000.

What are my options here and how should I approach this?

@Ben Leybovich that's awesome congratulations!

Thank you everyone! Just trying to learn as much as possible so I can hit the ground running and get started as soon as possible!