All Forum Posts by: Mary Beth Groze

Welcome Patrick, I am a real estate investor in Baton Rouge and Lafayette.  My recommendation  is to read and study and get to know your market - This site and the meetup groups are so helpful.  Good Luck.  Let me know if I can help you in any way.

Mary Beth

I am interested Brandon in how investors will be able to help get these homes back in use. I wish there were programs (SBA and FEMA) / assistance for investors because investors somrtimes are better suited to take those risk than the average home owner. I am concerned for our great city and surrounded small towns that homeowners unprepared to pay for restoration or unable to get assistance will get into trouble and walk away leaving blighted properties all over Baton Rouge and Denham Springs! Time will tell. So happy to hear that you and others are stepping up to get these properties properly restored and back in use.

I love Baton Rouge and am devastated that this has affected so many in our area.  It is truly

unbelievable to see so many flood victims belongings lining street after street. 

I think it is very important to make sure a flooded home is properly dried out and tested for moisture before you close up walls.    What we are seeing is that sheetrock and insulation are like wicks and will pull the water up behind cabinets and tubs and up higher in the walls than the water level of the flood.  I know many are anxious to get their homes restored but documentation of proper restoration would be wise to insure home value for future buyers of your home. (even if you don't for see selling soon).  There are professionals that will test for mold AND  their are inexpensive moisture testers to insure that your home is dry.

Hello,

I am currently working on buying a property that has a mortgage and a Reverse Mortgage on the property.  The owner is deceased, the home needs substantial work and the heirs have been given an amount owed to the reverse mortgage company or an option to turn the home over to the RM company in lieu of repaying the "mortgage".  Can anyone tell me how this works?  The heirs have not gone through the probate process and the reverse mortgage company is urging them to do so "so that the property doesn't go into forclosure". 

What generally happens to these properties? Do they generally go through the forclosure process after the owner dies? Is the amount the reverse mortgage company gets negotiable? Does it equal the amount they have paid to owner plus interest? Or is there a FMV calculation in there?

Any help will be greatly appreciated!

Mary Beth Groze

Welcome Jeff!  I been an investor in Baton Rouge a while.  Good Luck with Investing and let me know if I can help you.

Mary  Beth Groze

Thanks everyone. Several great options. 

Does anyone in Baton Rouge use a tenant screening company that they would recommend?

Hello Tony,

I am a Baton Rouge investor. I would also recommend the RING and to listen to all the podcast from Bigger Pockets and read everything you can read about investing. The more you know about investing and about Real Estate in Baton Rouge the more successful you will be,

Good Luck! See you at the RING

Mary Beth

Hello Mylene,

Good Luck with your investing career. I am an investor in Baton Rouge. Let me know how you are doing!

Mary Beth Groze