All Forum Posts by: Merry Briotta

Miamisburg duplex for sale. Needs full rehab. ARV $90,000. 2 bed will rent for $700 and Upstairs for $575 depending on rehab. All utilities are separate and paid by tenants. Cash only, quick close.

I am working on a deal where a widow is selling off their rental portfolio.  Several have high mortgage balances with little equity. This is where the creative financing comes in to play! With not much equity, I was thinking of doing a wrap. However, 1 loan is a Heloc, 1 is conventional and 1 is a blanket mortgage (my head is hurting!lol)...can I do a wrap on a Heloc and a blanket?! And further more, can I even do creative financing with houses that are still in probate?? With a wrap, the loans would stay in the Estates names until the end buyer refinances. So, is that an issue with being able to close the estate? 

Being that she's an investor, I feel for her and her situation.  I'm usually a cash buyer that wholesales here and there. All of those have been pretty straight forward though!!! So this one has me stumped!!!!!! 

File an Affidavit of Equitable Interest with the county recorders office. It needs to be signed by a notary first before being filed! Once you file this, it states that you have a contract on the property and that they can't just sell it to someone else, right out from under you. It clouds the title for the length of your contract with the seller. Once you have that done, then you can market your contract. Tell your seller you are having a financial partner who go in on the property with you. Tell the buyer not to speak about the purchase of the property and the numbers. Good luck!

Teresa DelaMater You can find lined paper that will run thru a home printer. I can't remember what weight was needed but I ultimately found it on Amazon. Just do some googling... Good luck! Merry

Bryan Shelton Hi Bryan - I'm a local investor. What specifically is it that you are wanting to learn? What type of investing are you wanting to get into? Are you attending any local meet ups? Merry.

Obi E. What areas are you looking in? I'm a rehabber that mainly focuses on Butler and Warren county. I do my own direct marketing to source my deals. I'm about to kick off a larger direct mail campaign and I hope to source more deals than I can handle on my own. I will either wholesale them or close and wholetail them. Let me know what areas you are looking in and a brief outline of what you are looking for and I will keep you in the loop if anything pops that meets your criteria. Cheers! Michelle

Tom Jones You are over thinking things.... I own 3 rentals in the neighborhood I live in. I am literally surrounded by my tenants. Next to me, across from me... I see them outside and say hi. We might chat a few minutes and that's it. You don't have to become best friends with them. Just be polite, say hi and keep your distance. Problem solved. Good luck! Michelle

Chris Gravitt Not sure what you mean by bad experiences. I don't purchase homes from wholesalers. I do my own marketing and buy direct from sellers. I think you missed my point. Sounds like you are trying to force a deal when one doesn't exist... Best of luck...

Chris Gravitt What would be the benefit to the seller? If you are going to just list it on the MLS then why wouldn't they simply do that? I am a firm believer of helping someone with a problem...whether that is buying their dump of a property or buying their well cared for, not updated since 1960 property or maybe even it's just the fast close that they need... If the home is in such good condition that you can list it on the MLS without much (if any) work and they want close to retail - my gut says they aren't really motivated. Not to mention that you are talking about extending the closing date...I would suggest they contact a realtor and list it themselves. I'm not in the business of taking advantage of people (not saying you are either). I am all for making as much profit as possible, when it makes sense for everyone involved. Good luck! Michelle

You can usually find a lot of cash buyers at Sheriff Sales!!!!