All Forum Posts by: Marc S.

@Anson Young

Extremely helpful, exactly what I was look for. 

If we look at #1 scenario, the agreement that is being signed by both myself/wife and in laws, does this mean I dont need a realtor for this type of transaction? Obviously, i would need to get my real estate attorney involved. Unless, it is recommended to have a realtor.

Sorry if this is a obvious answer. 

Hi All,

I am relatively new to the investing game. I am looking for a little bit of help. My parents in laws are looking to sell their home which is worth about 240,000. The unfortunate part is my father in law is a hoarder. The good part the “junk” is mainly outside and in the basement. We are in the process of throwing away all his stuff and hopefully put their house on the market in late fall early spring 2021. My wife and I plan putting house on the market for them but would like to potentially buy the house from them and flip it.

We understand their will be repairs needed to get the house to good standard.

I would like to propose a question to the group. Is their anything we should be considering when flipping a house?

Anything specific we should be looking at when dealing with family members?

What contracts need to be in place with my parents in law to flip their house?

We also thinking of getting a hard money lender to purchase the home but not sure if this is the right method.

I’m sure I have more questions but we can start here.

Thank you and I appreciate all the help!

Hi Derek,

I was just in DC last month. I am actually looking to invest in the Worcester area myself. I am fairly new in the investing game. Worcester’s  got some nice potential especially with the city investing in the infrastructure because of  the Red Sox Triple A affiliate moving into the city. If you are around in April we should definitely meet up for a coffee. 

Best,

Marc