All Forum Posts by: Tim Moore

Thanks @Kim Meredith Hampton!

Hey BP! I have been eyeing a duplex in my town that has been vacant for a couple years. It was owned by an older couple and then given to their son when they passed away. Their son lives out of state and I was wondering if you all had suggestions for he best way of getting ahold of an absentee owner like this situation. I'm open to calling, emailing, messenger pigeon...whatever can help me get in contact with him so I can find out what his plans are with the property. Thanks guys!

Thanks @Hugo Alves! I figured that was the case since, you know, this is America and people have a hard time being told they CAN'T do something. It seemed like a very weird way to phrase it, but I had also never looked that closely at a deed before. Thanks for the feedback, this is why I love BP.

@Hugo Alves @Samuel Lynch Thanks guys! I've never used the tax assessor site, but I've heard a lot of people talk about it. I was able to look up the deed for the property and in it, it states that the the son and his wife "to have and to hold the premises herein granted unto the parties of the second part, their heirs and assigns forever." It uses the word "forever" 3 times in the deed basically stating that they hold it forever. Is it possible to list in an estate that a property can never be sold or is that just a terminology that I've never seen? Can someone really be blocked from selling their property that has been handed to them by their deceased parents even if they don't want to keep it or am I crazy?!

Hey BP! My wife and I have been talking about buying a multi family as our first home, house hacking and then building on from there. We were at one of our friends' houses the other day and she mentioned that the duplex on the corner had been owned by a couple that passed away and was now in possession of their son who has left it vacant. Intrigued, I wanted to try and find more information on the property and see if we could reach out to him. Just from a quick look on the easy sites (Zillow, Trulia, etc) it said that the deed to the house had been sold for 10k in December of 2015. I'm a little confused as to what that means to be completely honest. Does it just mean that my friend, who has been living on the street for 20+ years, doesn't have her information right on who owns the property? Or is there some sort of transaction that would've happened when this guys' parents passed away? I was under the presumption that if you have property passed down to you in will or trust etc there's no sale that needs to happen, but I could just be naive about the whole process. Let me know what your thoughts are because we want to reach out to the son and make an offer if the property is just sitting there. Thanks for the feedback!

Thanks for the response @Bart H.! It's been my mindset to leverage somewhat, but not go crazy. I'd like to own 15-20 properties free and clear and I'm only 23 so I still have some time to go before retirement. I'm not afraid of having debt, I just don't feel the need to continue leveraging properties until I have 1,000 units.

Thanks David Faulkner I love the response! I figured I would get more "leverage your properties" people which is fine. I just know my situation and desires aren't the same as most peoples.

Hey guys, so I keep flip flopping on how I want to structure my real estate business plan in the future. We always talk about "good debt" on BP and I understand that you can use the properties you have to leverage into more properties, but wouldn't your cash flow be much higher if you had it entirely payed off? Part of me wants to pay everything off as quickly as possible because I don't have dreams of being a billionaire or anything. I want enough passive income to supplement mine and my wife's W2 jobs so we can focus on what we love. Does paying off your mortgage not change the cash flow as much as I'm assuming it would or what? Help me out here and let me know what you think about free and clear vs leveraging your properties to get more. Thanks BP!

Hey guys, so I keep flip flopping on how I want to structure my real estate business plan in the future. We always talk about "good debt" on BP and I understand that you can use the properties you have to leverage into more properties, but wouldn't your cash flow be much higher if you had it entirely payed off? Part of me wants to pay everything off as quickly as possible because I don't have dreams of being a billionaire or anything. I want enough passive income to supplement mine and my wife's W2 jobs so we can focus on what we love. Does paying off your mortgage not change the cash flow as much as I'm assuming it would or what? Help me out here and let me know what you think about free and clear vs leveraging your properties to get more. Thanks BP!

Hey guys, so I keep flip flopping on how I want to structure my real estate business plan in the future. We always talk about "good debt" on BP and I understand that you can use the properties you have to leverage into more properties, but wouldn't your cash flow be much higher if you had it entirely payed off? Part of me wants to pay everything off as quickly as possible because I don't have dreams of being a billionaire or anything. I want enough passive income to supplement mine and my wife's W2 jobs so we can focus on what we love. Does paying off your mortgage not change the cash flow as much as I'm assuming it would or what? Help me out here and let me know what you think about free and clear vs leveraging your properties to get more. Thanks BP!