All Forum Posts by: Mao Pmn

thanks for the feedback. @Paul Welden I do have a HUD Consultant with my lender but in the end I choose the contractors. @Solomon Morris I'm under contract as off today. Any recommendations would be appreciated. It is a bathroom refurbishing and a basement that was partial done but needs finishing.

1st I am looking for a general contractor. In the process of making an offer on a property.

Any other advise would be appreciated!!

Its really bothering, we have had our home in the neighborhood for almost 20 years and so has our neighbor. She has been falling apart for years and so has the property. Long, sad story, I've reached to her but I don't know how to help. What I do know if the situation isn't reversed she will loss the house and somebody else will make a ton of dollars from acquiring it. I will meet with her later this week, I would love for her to keep the house but that will take $$$$ that she doesn't have. I honestly believe it's to a point that it would be better for her to sell and move into a apartment. My house was bought for 100k roughly, now worth higher 400's and climbing. I'd guess her house needs 100k in repairs at the least and the mortgage is just below 100k, from the little info I got online and observation. I have enough resources where if the house was in my control the property could turned into a winner. I will keep this post updated after I get more information.

Hi Mike interesting topic and thanks for sharing. I have read that their is a issue on resale potential on modular/prefabricated housing. I understand the advantages of the technology and processes plus in some areas land being cheap.  The concern is financial advantages/disadvantages in the real estate investor project cycle.  

Thanks Jeff, the owner is going to give it to the bank via deed in lieu. I'm trying to get information lined up will I still have unfettered access to the property and make a decision when the bank takes it to auction or such.  I want to leverage my insider information.  

Thank you Wes

Hi Nathan thankfully I've had to only deal with repairs that needed specialist (roof, electric, etc.) No experience yet with a bon fid general contractor, now that I'm switching to an owner I'm trying to do things on another level. Do you recommend a general contractor? And would I have to pay him for the estimate? Even though it is a cash purchase, I want to do an appraisal and estimates as if I was getting a loan. I hope I'm making sense. 

I have a property that I manage and the owner is preparing for a deed in leiu. I might make a move to purchase it, can any one help me with a strategy to gets estimates on total repairs or unseen issues. As a property manager I haven't seen any obvious major issues but I need a look over similar to a inspection or appraisal. General Contrators, Inspectors, Plumping, Electric, Foundation, etc. What is the best plan? 

In DC, you can get expediated evictions in cases like drugs busts or such. Good luck!

Current comps for this style is $400,000. Presently 245k owed, 2000 in mortgage, taxes and hoa a month. If I rented it would get roughly 2400 a month. I want to sell, would a successful lease to own generate higher profits then a normal sale? What criteria should I use in making the determination?