All Forum Posts by: Mike O.

Thanks Percy

Am I allowed to post links. There is a sheriff sale in my county with multiple mobile homes going for past due taxes of <$100. I just don't know anything about mobile homes and if it is a worthwhile endeavor and investment

Hello,

Anyone give a bit of advice building list of potential deals? I am looking to flip.

If I do a direct mailer, who do I target? Delinquent tax list owners, Real estate agents? Investors? Owners of "run down" properties via county recordings?

Are bandit signs more efficient?

I have everything set, just need to find the right property...LLC, budget spreadsheet, sub list, financing, MPP spread with minimum return. I have been out looking on my own, but for a first flip I want to keep margin of error high for any unexpected issues...

I have been researching delinquent tax lists, city nuisance fines (figured if they don't care to keep property up may be in a spot to sell?)

I've tried MLS, but have yet to find a realtor in this niche.

Help appreciated!

Regards

Mike

thanks

Was hoping to get any information-critical components of a sheriff tax sale. Via my city website I found a sale next week for a commercial property in a heavily trafficked area for $23,000. It indicates all sales are final and cashier's check is needed to pay full taxes and sales fees? Am I missing something? I am going to research, but this property is surely worth much-much more than $23,000. Is the sale final or is there some type of redemption period from which I will collect interest if property is redeemed or am I off?

Any advice?

Regards,

Mike

Thanks all!

Hello

Last night I went to look at a property. It was FSBO, I asked what I thought to be reasonable questions:

Why are you moving out?

Any recent upgrades?

Flexible on price?

Ok with traditional diligence...inspection, appraisal, title work?

Looking for a quick sale?

I was then upfront and told him that I would need to buy the property at a bit of a discount as I'm not a first time home buyer and do not intend to occupy the property. He then acted a bit surprised and said if you just want to buy it so I can "take it in the shorts, I'm not interested...then

His response was that he has already received cash offers and also had a realtor tell him he was priced too low by ,$20,000.

Advice on how to approach these sellers without offending them and trying to gauge how motivated they could be? Get a feel where to potentially start an offer price?

Maybe how to sensitively convey to them the realtor is wrong and the house down the street that sold for $20,000 more had more sq ft. A garage new roof etc

Advise?

18%

Probably not worth risk

Although it's not a build... Just a construction loan for purpose and structure. It is a rehab of existing property. Purchase plus improvements up to 80% ltv arv

Very true 

Thank you