All Forum Posts by: Marvin Franz

Bart,

1.  We go to the court house and look at what they owe or if loans were satisfied.  We also make sure there is enough equity to pay off what was overlooked.  We only buy title insurance after we buy at auction.

2. Once again courthouse would list this.  We don't buy these.  There are always other deals out there.

3. We only buy first mortgages which wipe out the second in virginia.

4. We evict the previous buyers as they have not paid on their mortgage for quite some time and the bank should have evicted them.

5.   Once again we look for enough equity for the fact you can only see the outside of said property.

6. We have only bought in Va.

7.Trustee wants money in 20 days we usually try to get the deed in the first week to get started flipping right away.

Kenny,

I am an interested buyer in Williamsburg/Yorktown area. We are looking for rental and flip properties. Thank you.

We are currently flipping a house in Williamsburg, Va.  It took 77 days to get the former owners out after my father-in-law and I bought the house for cash.  I am interested in rental property but he thought I needed to know how to do both.  He is experienced in both rentals and flipping.  I am retiring from my current job within a year and wanted to learn how to do both.  Currently rehabbing the property with the small jobs being handled by him and myself before the professionals come in.