All Forum Posts by: Kyle Kufeldt

I didn't get pictures with the insulation installed but it was a requirement before we could get inspections complete.

Any good tips on contractors/companies in Atlanta to solve wet basements? I thought the problem was just that there was't any flexible tubing to take the water away from the foundation. We added some that takes the water about 5 feet away from the foundation, but we are still getting water in the basement. We also have to hire a company to remediate the mold in the basement but I don't want to do that until we have solved new water from coming in. Any tips or suggestions are very much appreciated.

Inspections passed on Friday for the framing and electrical.  Next week the sheetrock goes up.  Here are some of the latest pictures of the framing.  Things should really start to accelerate next week.

@Rick H. Do you happen to know what GA requires?

 If Georgia does require the secured estate debts to be satisfied first, I'm assuming the main risks are adding time to the deal and the potential that the total estate might have a negative balance?

I don't have much updates for today but hope to have some updated pictures tomorrow of the framing that has been done.  The hope is that we can get the HVAC, electrical, and plumbing work done next week and start putting up the sheetrock the following week.  We also got a quote on the mold remediation for the basement which we will likely go ahead with.  The rehab budget is starting to look more like a 90-100k rehab.  Not exactly the nice profits my partner and I hoped for, but this is not a normal rehab.  There is still room in the budget to make the whole process worth while and it's good education for my first flip ;-)

Also, here a video I created using a software modeling tool called HGTV Home design.  I have the mac version which is missing some features of the windows version but has been great in helping me try to give our contractors a vision of what we are looking for.  I highly recommend it.  I was surprised how quick I was able to get over the learning curve to create this.  http://youtu.be/q7pgTK0Cbw0

@Rick H. Thanks Rick. That is very helpful. I really doubt that this particular opportunity will be one that I will pursue but has been a question in the back of my mind as I deal with more and more probate leads. Knowing the legal issues with the "subject to" will help me as I get more leads that can be great cashflow.

I'm currently marketing to probate and have come across a lead that has a mortgage that is close to what the property is worth. The only question I asked was about the total of the remaining mortgage and was going to dig deeper to understand what the monthly payments might be. If the terms on the mortgage are good, is there an opportunity here if I wanted to buy and hold?

My question is if it's even possible to do a "subject to" for a mortgage where the person is passed away? Does anybody know what is required of the executor in this situation? Is there any opportunity for the executor to get the mortgage transferred without having to refinance?

The second part of the question is if there isn't any opportunity to do a subject to, does anybody have any other creative ideas for this? or should I throw this lead away?

The ARV likely worth somewhere between 70k and 80k and probably needs about 5k in renovations in order to rent. The remaining mortgage is right at 70k but I don't yet know the terms.

Welcome @Matt Boettinger I'm also in the Atlanta market. I highly recommend all of the Bigger Pockets podcasts. They provide a ton of great information. Especially for new investors.