All Forum Posts by: Lily Scherman

Thank you for all the great information Aaron.  I actually do have buyers. 

Lily

This is the scenario:  Trying to wholesale here in California, these red tagged owned properties have deceased owners who have debt from medicaid expenses etc, the current owners are waiting for the 5 yr mark to arrive to give up the properties.  When realtors or police department try to contact the current owners, the owners do not respond.  Any ideas on how best to approach these owners?  Is there a future for me as an investor with these properties?

Thank you,

Lily

This is the scenario:  Here in California, these red tagged owned properties have deceased owners who have debt from medicaid expenses etc, the current owners are waiting for the 5 yr mark to arrive to give up the properties.  When realtors or police department try to contact the current owners, the owners do not respond.  Any ideas on how best to approach these owners?  Is there a future for me as an investor with these properties?

Thank you,

Lily

Hi John.  Thank you for the feedback.  I haven't checked into things like local demand, resale potential, park rules etc.  Since moving there was not an option and it really didn't look like a potential investment, I didn't check into any details.  I could still check into the details and see what I come up with.  Again, thank you for your feedback!

Thank you Anthony.  Everyone has been pretty much saying the same thing.  Not a good deal, too much risk.  I appreciate your input.   

Thank you Mark.  I love this site!  This was my first post and I received quick responses to my situation.   Although I was pretty excited about having property given to me, it would have been a bad situation for me.  I appreciate all the feedback.    

Hi Ron - Thank you for your feedback.  Yes the space rent is a huge concern, and the time that the home sits vacant would really stress me out and deeper in debt.   So glad I posted on BP.

Thanks again!

Lily

Hi Bill!  Thank you for the quick response.  If I could sell it, that would probably be my best option.  Although I do know someone who knows about fixing mobile homes, the expense and distance are a big factor (negative).   

Thank you for your feedback.  I currently live in Atascadero, let me know if you're ever in the area maybe we can have lunch.  Mobile home investing is a direction I am looking to go into.

Thanks again!

Lily

I'm new to real estate investing, I have been reading about real estate investing, attending my local REIA meetings, and listening to Brandons' webinars. Because of my situation I cannot do the traditional loan route, so creative financing is the path I need to take. I've been given an offer but not quite sure if this is an opportunity or not.

A family member wants to deed over the title to his 2 bedroom mobile home in San Diego to me, my concerns are: 1) rent space is $800 2) I live 300 miles away 3) needs some fixing up 4) I would look at renting it out but I don't know anything about landlording 5) my family member would not be able to manage the mobile home for me 6) he does not want me to sell it, he wants me to come live there but that is not an option for me 7) financially I could not cover the rent space.

Is this an opportunity?  What are my options?  How should I analyze this to make sure I can get positive cash flow?  Should I accept the title?  Can anyone point me in the right direction?  If so this would be my first deal.

Thank you,

Lily