All Forum Posts by: Ray W.

This house can serve as a good rental income for the next decade or renovated to be a great home, as this area is booming!! Tons of renovations and new builds completed and in progress in this hot area of town.

Woodward Academy, Delta & Porsche headquarters are just around the corner. 15 minutes from Downtown, 4 Minutes from the airport, tons of shopping, eateries and new happenings all throughout this area. Property is rented at $800/mo. $108k  $250ARV. All Cash deal. 2k EMD & fast close. Can email detailed numbers upon request. 

Hey Whitney. Shoot me your email address and I'll send you an info sheet with numbers..

HOT East Point!  This is a great rehab opportunity in Center Park! ARV is $115k with $45k in rehab costs. An upcoming neighborhood with tons of potential. Would be good for flip or hold as neighborhood is steadily improving. Retail flips are spending under 40 days on the market!

Purchase: $34k

Rehab: $45k

ARV: $115K

Flip Profit: $25k

Hey Eli. Yes, closing on this one next week. I'll add you to our list for sure. Thanks for reaching out. 

This is a perfect flip or buy and hold opportunity in the heart of Semmes Park. Property sits on a great corner lot in East Point. Gutted down to studs. Close to public transportation; close to major highways. 10 minutes to airport. 15 min outside of downtown ATL. Great retail comps on the same street. Great new roof and large back yard, close to interstate, nice area, that is up and coming, would be great rental property or great to live in as well, Cash only., as-is.

Purchase Price: $36k

Rehab estimate: $55K

ARV: $130k

Flip profit: $25k

Thanks @Charlie Fitzgerald.  The lienholder is a parent who will be paid back once the house sells.  They have already agreed to sign a release if needed as they don't want to hold up closing.  I've never dealt with this before so just want things to go as smooth as possible.  

@Tyler Sterns Thanks man!  I figured that but want to be sure.   

Hey BP community!

Have a couple of questions I hope someone can help me out with. I have a property under contract and received a call from the seller stating that there was a lien placed on the property by a relative that loaned them the money to purchase the property initially. They have been in contact with the relative who is willing to sign a release so that we can close on the property without any issues. I may wholesale this deal and don’t want any issues for my buyer. So my questions are:

1. Is there a form that releases the lien holder from title so that we can close?

2. If not, can we still close and proceeds from the sale go to the relative (lien holder) with whatever’s left over going to the seller?

Any insight would be greatly appreciated! Thanks

Hey Chris. We've had a similar experience in the past. It sounds like your renter knows the game. 1/2 the rent means that one month was paid (October), with November deliquent. It may be tough for you to get a judgement. In most cases the tenant has to be at least 2 months in arrears to gain the judges attention. I would go with option 2.

Thanks so much for sharing your experiences. Your blogs seriously informative.