All Forum Posts by: Lou Veiga

@Ben Skove

Thanks for the link. Its gives a great explanation.

I went and checked out this place earlier today. The homeowner was there and I asked him about it. He gave basically the same explanation. The setup he had looked a little hokey. There was what looked like a 2 foot diameter plastic barrel in the ground which was the reservoir. It had some stones covering it. He said under the lid was about 2 feet of insulation to keep it from freezing in the winter.

Looks like there could be some sanitary issues with this type of system.

@David Krulac

Thanks! I will be viewing the property this afternoon and will definately ask the agent about the "wash well".
The property has public sewage, so I don't have to worry about septic. The place was built in 1970. I'm not sure if it originally had a septic and then converted. There may even be a good chance that there is public water in the street, they just never tapped into it. I'll have to look into that as well...just in case.

Either way, if I'm interested, I will definately get an inspection, well water test, and radon test.

Anyone ever hear the term "wash well"?

I looking at a property disclosure for a house that I am considering for a flip. The first question under the Water Supply section asks what type of system it is. The options are: Private, Public, Dug, Drilled, Seasonal, or Other. The seller checked off Private, then wrote in Wash Well.

I have never heard the term. I googled it but didn't really find anything on it.

Anyone familiar with the term or what this might be?

Congrats Tony!

Sounds like a great one to start with. I bet you can't wait for the next one.

Paul and Mehran,

Thanks for the warm welcome. I will definitely make it a point to attend some local REIA meetings.

Ned and Naveen, Thanks for the tips. I'll keep them in mind.

Naveen,
I never considered trustee sales. I'm not familiar with how they work. I'll have to look into that.

Thanks guys!

Hi All!

My name is Lou Veiga. I live in Nashua NH. I have been poking around BP for a few months now. There is just so much great information here. I’m trying to soak in as much as I can. I have also been listening to all the Podcasts which are fantastic.

I’d like to start investing by doing some flips and eventually picking up some long term buy and hold properties for rental income. Since I don’t know any wholesalers in the area, I have been looking at foreclosures as an option to finding a good deal. I have gone to a few auctions but so far nothing has panned out.

I’d love to get to know some of the local investors in the area, learn as much as I can along the way and hopefully be able to give back to the BP community.