All Forum Posts by: Meshael Eady

Thank you!

I just compiled a list of potential sellers that I got from walking for dollars. Now all I gotta do is make some calls right ... Not so fast! What should I be asking to extract all of the pertinent information that will determine if it is actually a deal? What should know before i ask for permission to get a property under contract and pay for an inspector?  so far i have...

1. Are you interested in selling ?

2. How much are you looking to get for this property. What number makes sense to you?

3. How soon are you looking to sell this property?

4. How long have you owned the property?

5. Are you the only owner?

6. Are there any major repairs that need to be done that you can think of?

Thanks so much!

How do i find the contact information of the owner of a dilapidated property. Do i go down to the county clerks office and research each one? I'm sure there is a website but I see several that want me to pay and will give me pertinent information, but not the contact info. 

Besides me giving them my criteria and seeing if they can produce, how do i choose a wholesaler to work with? What signs do i look for, what questions do i ask?

Absolutely! 1st i will clear my credit card debt (3k) because i know it will come in handy. 2nd i will upgrade to BP PRO because analyzing deals by hand takes way too long and i will probably make a mistake (as i do now when practicing). Then I plan to partner up with a friend who is currently interested in doing so. She has the money and i have the knowledge and hustle. If she decides not to join me, well then i guess hard money it is. Since i am in Brooklyn NYC i am solely interested in short sales, bank owned properties and foreclosures because that is the only way to get something below market value around here without competing with billionaires. I will take advantage of the FHA loan aka "house hack". this is the best route for me because of my facilities management experience (13 years) My partner will put the down payment and ill borrow the money for repairs from a hard money or private lender. If it needs total gut renovation i will go for the 203k loan. I don't expect it will because Brooklyn is hot and everything is being sold and flipped to retail buyers, and most retail buyers just don't have the ability to do the numbers correctly and (i imagine) will loose their newly renovated property within a few years.