All Forum Posts by: Kevin McIntosh

Since I got the notice from attorneys and it was dated on letter June 24, does that mean the foreclosure filing probably was after May 1? And if so, does that mean my current lease is no longer binding/valid?

I realize you can only provide information and that this isn't profesional legal advice. thankx.

I am renting a house in middle TN. Renewed 1-yr. lease on May 1 of this year. My monthly rent payment goes to the Property Mngt company who acted as the agent on behalf of the owner (Leasor) in our lease agreement.

Got a notice in late June from an attorney's office that the house is being foreclosed on. Property Mngt company (a local Remax office) didn't know anything about it. I paid the July rent. Property mngt said I should keep paying rent and their attorney told them to put it in an escrow account.

Today, just found out the owner died last August (Property Mgnt company has never told me that). House is due up to sell this month on courthouse steps.

My hunch is the house will go back to the bank--it looks like about $5k more is owed on it than exact same houses on my street sell for and nobody has come to look at it; not an investor deal and no private purchaser would buy sight unseen.

What are my rights now as the renter?

I don't know who has been cashing those rent checks since August (maybe the owner's widow).

However, I would be interested in seeing my options for purchasing the house if there's a way it can be a decent deal.

I lived in Indy for 6 yrs. Awesome city.

I have a property under contract there which I'm wholesaling for the owner -it's off E. Mass near downtown (you can see it on my profile). The house is dirt cheap with an extra lot included-looks to be a pretty lot-ie. tree /bushes bordering it, but I can't seem to able to generate a lot of interest from investors (made a bunch of calls / emails as we just started marketing it last week).

I'm wondering if investors have just gone cold there.

But perhaps from your posts I'll figure out what's missing. Will check out police reports.

Or anyone have thoughts?

Have you had any luck w / wholesaling in Indiana yet?

I contracted a property in Indy I'm wholesaling for the seller.

I used to live in Indy and prior to that Evansville.

What are you all finding to be good for wholesaling right now? We've gotten a dirt cheap deal in Indy (less than $18k for house plus empty lot near downtown) we've been trying to wholesale and not having any luck despite lots of calls to investors. Our other deal is in W. Ky-again, a dirt cheap deal- 3 rental houses for the less than 40K total, (all 3 rented and stable tenant histories). Lots of interest but no buyers. Very little rehab needed to any of the deals.

These are our first 2 wholesale deals so wondering if we're missing something or if the market's just flakey now. We've been marketing them a few weeks.

Anyone experiencing the same?

Thanks.

In today's market conditions, how many lookers (real estate investors) would you say you have to get in front of to close a deal?

I know there may be way too many variables, but I'm really asking, based on deals you've had in the past, did you eventurally say, OK once I get more than x amount of lookers, if I haven't sold, it's time to drop my price or other.

i.e. what does x = ?

so would those be good markets to start wholesaling in?

seems so. I guess the competition might be fierce and deals scarce, but buyers would be present.

thoughts?

HI. Well, I'm focusing on wholesaling dirt cheap properties to real estate investors.

Plan to wholesale in areas I'm familiar with including Indianapolis, Winston-Salem NC, Charlotte NC and Nashville where I now live (technically I live in Murfreesboro).

Really focusing now on networking in those markets with investors.

Spent a year preparing for this wholesaling venture and finally just started in terms of getting properties under contract.

If anyone has any ideas about how to best network on this site, I'm listening. I assume doing just this, engaging in the forums discussions is the best way to meet folks here.

Hi, everyone.

Just thought I'd introduce myself. Not sure how this all works but will hopefully figure it out soon.