All Forum Posts by: Mark Gallagher

You won't be able to get a "normal" loan without employment. Your only likely route would be to fix n flip a house with a hard money loan.

Numerous boarded homes and substantial vacancies would put a property in a D or F class. 

You could also use income levels. If the area is well below the poverty line, that would be D or F.

@Greg Moore

No we have not had any claims. How would one person have 3 claims? Sounds a little fishy to me without knowing anything more. 

I would say this falls on your responsibility.

I would say that's not necessary to do so. 

Yes you can give it to the seller, it's however you write it in the contract. You can write that you're giving it to the seller, or to the title company. For $10, I would just give it to the seller. It would get deducted from the total transaction at closing.

Just because the HOA takes care of exterior maintenance does not mean this absolutely falls under their responsibilities. It is dependent on what is in the HOA documents. Every HOA is different. You need to read your HOA documents first @Maria G.

@Greg Moore

We have been using NREIG for years. They have everything you need. I'm sure I found them in a BP thread many years ago. They can do vacant, rental, short term rentals, long term rentals, rehabs - one stop shopping. NREIG.com 

Yes. But not necessarily for the reasons you are thinking.

There is a dam wall up right now with restrictions on foreclosure filings being filed.

Once the restrictions are lifted, the dam wall will break, and there will be a flood.

It's not really going to be a flood from "new" foreclosures. It's going to be a flood of in process foreclosures finally catching up, and selling at courthouse sale. 

But, there is also pent-up demand at courthouse sale. So lots of those foreclosures that will sell at courthouse sale, will not actually hit the open MLS market, they'll sell to investors at the courthouse.

I am not at an attorney, but if your "tenant" stops paying, and you try to take them to court to evict them, you're not even the owner of the property. You would then have to foreclose on the same property that now has a squatter in it. Seems a little too dicey to say the least. The downside far outweighs the upside.