All Forum Posts by: Michael Uden

Hey everyone, was just curious if anyone is familiar with the Ringgold GA area right outside Chattanooga TN. I currently live there and was wondering about using the house hacking method to convert my 800 sq foot basement into another large bedroom/ in law suite. My question is would it add more value for my area as a finished basement like it currently is or would it be better to add a kitchen and full bathroom down there? The house is currently a 3/2 with 2800 sq. feet including the finished basement. It does currently have hook ups for a kitchen, and I'm assuming the cost to add the bathroom and some walls and equipment would likely run me about 10-15k. Any suggestions would be welcomed, let me know if I'm missing any key information. I am going to refer to the book on estimating rehab costs when my buddy gives me my book back.

@Gregg Heminger congratulations on your first buy!

@Roger Poulin I'm creating a real estate company currently and after I get all my infrastructer completed I'll be using some capital to reach out to delinquent owners in the hopes to get them out of their foreclosure issues, and hopefully also collect a portfolio of land to resell.  I'm planning to utilize @Seth Williams business model mostly from BiggerPockets podcast 39.  It really struck a cord with my financial position and needs with my current full time career.

Hi everyone,

I'm just reaching out to see if there are any TN real estate professionals that know the length of time a property can be delinquent on taxes before the state steps in to begin the foreclosure process.  I'm asking specifically for land lords that are only late on taxes but not in foreclosure yet.  I heard states are all different.

Thanks for any help!

Michael

Thank you so much for the quick response and great info!

Hey everyone was just hoping for some help on these questions. Questions for wholesaling: 1- Once a deal is accepted what forms should be used to lock in said deal? 2 Whats the time frame to get the next buyer on the hook to pick up the deal? 3 If the seller is not in the area how do you close a deal, does a title company and myself need to be in their local area get involved and how do you get those entities? 4 Is there a way to learn what states require lawyers to be present at closings? I assume I just find a real estate lawyer? 5 What fees should a wholesaler be prepared to pay, if any at closing? Thank you! Mike

So if you wanted to get a start wholesaling to raise your own capital while financing with private or hard money it would be impossible to get to the MLS without being in another businesses office correct? Meaning even after paying your dues you wouldn't have direct access to the MLS on a home computer?

Thanks for such quick responses, it sounds like once I get a license I need to find a business like Keller Williams Remax etc. to take me on under their flag and pay my dues for access. Is it hard to get signed on with a brokerage once the realtors license is obtained? I'm really only trying to gain access to the MLS to get first dibs at properties to get my own business off the ground.

Hello, it may be a silly question but I haven't been able to find a precise answer yet. My question is if I get a real estate license will I have immediate access to the MLS. I can't get a straight answer online. Also what license type do I need to obtain to gain this access? Trying to figure out the exact dollar amount to expect for all of this.

Thank you guys!

Thank you for the response!