All Forum Posts by: Marcus Perleberg

I'm looking into alternative ways to sell a rundown house for my parents. The house is no longer occupied and needs work. It is a large, old Victorian in a small, rural town. We had a couple "we buy ugly houses" type companies come in and offer less than even the lot itself is worth. I know there is cost to tear down, but feel that even though the house needs work it is more valuable than the offers. There is a mortgage so that also adds to the amount desired, though my inexperienced self still feels it would sell for a pretty penny once fixed up. Is this a situation where we (as sellers) would reach out to a wholesaler? Or if those big companies don't want it, is that an indication that no investor would want it? Perhaps sellers do not contact wholesalers at all? Thanks in advance for any input. 

Hi there. Looking for a realtor to sell a "fixer-upper", maybe more than a fixer-upper, in Jefferson county Wisconsin. Anyone out there have experience with selling a home that needs a lot of work? It's a nice sized lot in the heart of the downtown of a small town, commercially and residentially zoned. Thanks in advance.

Hi everyone! I am an out of state investor who is currently investing in the Midwest. I come across a good deal of cash-flowing single family homes and small multifamily (primarily duplex and triplex) properties that I can’t always keep in my portfolio, and I wanted to see if there is any interest from investors here who might be looking to purchase out of state? The properties are generally cash flowing at +8% cash on cash return/cap rate, with plenty of reputable, full service property management options in the area. I realize this is probably an odd request, but if you are a cash buyer and are looking to add these types of properties to your portfolio, feel free to message me and I'm happy to provide more info or answer any questions. Thanks!

Hi y'all, 

I am looking for advice on my next step regarding financing to acquire my next property. Here is my conundrum: 

I have a duplex that I house hacked back in 2018. Current estimated value is 315K. Mortgage balance is $166K. Loan is an FHA loan at 4.25% and I am of course still paying that PMI.

Through my current loan servicer I can do a cashout refi and get around $55k equity out of the property, which I would use to by my next duplex. The new loan would be 30 years at around 8.15% interest but of course not have PMI (also no fees, points, etc since they are incentivizing me to refi with them as my current servicer). Although cashlow does take a hit I will still be able to make a decent amount per month (~$400/500).

My biggest blocker to doing more deals in financing, which is why I'm taking a look at this option. 

My questions: 

Is this something you would consider? 

What are some pitfalls  I'm not thinking of that I should consider? 

Is this even a good deal or should I keep looking for more cashout refi options? 

Thanks! 

We are seeking an investor/partner to help fund new construction opportunities in the Milwaukee area. Inventory is low and summer is coming and so we are looking to build contemporary homes for home owners looking to buy a home for their family. please reach out to me if you have any questions.

I am in a situation with a co-owner of a residential property just outside of Houston whereby my co-owner has decided she wants out of the arrangement.  We purchased the home over 3 years ago with the intention of starting a family, but my partner changed her mind.  Unfortunately, we bought the home when the rates were at all time lows, so selling or refinancing are not at all ideal at this time (I have been living in the home, she never ended up moving in, I'd prefer to stay with or without her at this point).  I was hoping I could have her sign a quitclaim deed to release her title claim, and then I'd just assume full financial responsibility from that point.  But TX law is different than what I am accustomed to, so it seems that filing that quitclaim would trigger the due on sale clause of our loan, which I do NOT want.  I am trying to come up with a slew of options to present to my ex-partner that will enable me to keep the home while relieving her of her responsibility and ownership claim, that does not disturb the financial instrument until such time that we deem economic factors make a refi more appealing.  I don't know enough about TX real estate law to be able to fully evaluate the potential moves here.  I prefer to go on referral basis, but none of the attys my loan officer or real estate agent suggested returned my calls.  The good thing is that my co-owner and I are on decent terms, and both want to devise a fair solution in this separation.  Any attys here familiar with TX law that may have some suggestions, please shoot me a DM, it would be MUCH appreciated!