All Forum Posts by: Audrey C.

Thank you, Rich.  I am just doing my preparation, as I am out-of-town, so this makes it harder for me to see what is going on.  I think I will engage a realtor for the drive by and maybe later, a local RE attorney.  Do you by any chance know what the laws are over there regarding foreclosures?  There is so much stuff online when I do a search, it is always "information overload" for me.

Unfortunately, I live in TX and have a small property in Rixford, PA that I need someone to check on with a "driveby."  The property is a contract for deed/land installment contract type.  The "owner" is always late in payments.  (I said "rental" but he is an "owner"--I have the title which will pass on to him once all the payments are fulfilled)  I just need peace of mind that he is keeping up the house.  Will a local realtor do this service?

Also, do you all know how many payments must he default on before I file a foreclosure?  Right now, I am in the process of looking for a Mckean County attorney, just in case the owner miss more than one payment. 

Thanks for all answers to my questions and your valuable time.

Hello, I have purchased a lot in east Austin (78721) and it is under contract right now for June 25 closing. I would like to flip this lot through an assignment to another investor or builder. If you are a builder, this is ideal, as all the profits are yours to keep.

The lot is around the Springdale, MLK area and west of the 183 but east of 35. The lot is 6000 sq. ft and zoned SR-3. I already have an experienced builder with city of Austin connections and reliable subcontractors, so no need to go look for a builder. He already has architectural plans for two SF houses in this one lot. The one in front is 1550 sq feet and the back is for a garden home 850 sq. ft. The bigger house can sell for $220/sq ft. and the smaller one about $260/sq ft according to comps.  The total selling price of both properties will be well over $500K.  Please respond with any inquiries you have. 

I need offers for this lot at 1120 Christie Drive, Austiin TX 78721. The ccntract is at $100K and I am hoping to get at least $110K or more.  So, please email me your best offer.

NOTE:  The owner of this lot has a tax lien against the property when a title search was done.  She is in the process of getting the liens removed, using a RE attorney.  I have the title commitment showing "Schedule C" and a survey if you need to take a look at these.  Give me your personal email and I will attach them in my return email to you.

Sincerely,

Audrey

Hi Bryan,

OK, I will send this to you in a few minutes.  Your little birdy is right. :)  I disclosed to ones that email me personally.  The latest news is that the seller is meeting with her attorney today, 6/2/2015.  It is not her income taxes that were due--it is the previous seller's as proper title search was not done and she got "stuck" with the owed taxes. 

I will be extending this contract by another two or three weeks to allow time for interested investors like you to give me a bid.  It actually expires today but we are doing an amendment.

Audrey

I AM PROVIDING THE LOT ADDRESS HERE:

The address is 1120 Christie Drive, ATX 78721. Please do your due diligence. I AM TAKING OFFERS RIGHT NOW. If you need an MLS listing/comps for similar lots in the 78721 area, let me know at [email protected] The contract is pending for $100K and I need to flip this for a larger offer and assignment of contract. I am already involved in building two houses (on one lot) as mentioned in my original post, nearby.

Again, if you do not have a builder, I can recommend one to you as he is currently involved with building up 3 lots right now, in east Austin.

Bryan

Sorry, I did not reply sooner.  I am taking offers right now.  I am trying to figure out a way to update this forum thread.  

Hello, I am promoting a broker who has these great Performing Notes for sale.  I receive a small finder's fee if you buy from him. 

The great thing about these notes are that they are:

a.  Generally less than $50,000 - so a huge capital outlay is not needed.  Typical banks and lenders will not lend for less than $100K, as it is the same work for less profit.  So private investors like you are needed to fund these notes.

b. You become the "bank" or the first position lienholder of the note. 

c. The notes have LTV of 70% or less. The home buyer has equity in the house and will protect their equity!

d.  The average annualllzed interest rate is 13% or more, after the discount is applied.  If the home buyer pays of their small loan faster, the yield goes up!  You win big.

e.  The notes are discounted 15% or more by the seller.

f.  Yields per $ is $12 and more.

All inquiries will get a response.

Audrey

Hello, I have purchased a lot in east Austin (78721) and it is under contract right now.  I would like to flip this lot through an assignment to another investor or builder.  If you are a builder, this is ideal, as all the profits are yours to keep.

The lot is around the Springdale, MLK area and west of the 183 but east of 35.  The lot is 6000 sq. ft and zoned SR-3.  I already have an experienced builder with city of Austin connections and reliable subcontractors, so no need to go look for a builder.  He already has architectural plans for two SF houses.  The one in front is 1550 sq feet and the back is for a garden home 850 sq. ft.  The bigger house can sell for $220/sq ft. and the smaller one about $260/sq ft according to comps.  Please respond with any inquiries you have.

Audrey

How much are the typical contractors fees to build a moderately priced home from the ground up and around $300K selling price?  What is the % and if so, based on what?  How do you give incentives like profit sharing, after expenses, to motivate the contractor to cut costs and save time?  If so, in what percentages? example 80/20 or 70/30?  Please help.  I have the lot and the financing ($$) but need suggestions on how to pay the GC.

@Keith, you are a contractor/developer.  OK, I will call you on Monday?  I see your pictures/work posted on FB.  Great!