All Forum Posts by: Olusola Abitogun

I need help guys. I have a house under contract. Owner is a 70+ year old investor and just trying to offload the house.

• Triplex investment property. 3 Bedroom/unit
• Fully rented out. 2 of units are Section 8.
• Price is $250K.
• Positive Cashflow
• That price is close to the retail value (Zillow & iCOmps).
• The house can appraise to $325K (just based on recently sold house in that area and income)

I am having a hard time marketing this house. (I posted some groups and craigslist)…

As an investor, how would your market this house?

Are there any creative types of finance that I can use to acquire this house myself? And then sell later or Hold on to it. I don’t have potential down payment to straight up buy the property..

$200K? ....damn...lol.....Find a duplex/triplex property around $100K or less that needs cosmetic work...Follow the BRRR strategy. Buy the distressed property, with a hardmoney lender or loan. Rehab, Rent and Refinance for higher money..take money out....Rinse and repeat...Do more and more ...4 units 10 units..100units...lol ..you get my point.....BUT resist the temptation to throw $200K at anything. start small and grow big and fast.

Wow...thanks for that detailed post Shari....definitely giving me boost of confidence to move forward with this strategy.

Thanks guys....I visited the house with the realtor..I dont think there is a deal there ...Also the realtor wasn't so sure about double closing...suggesting that I might have to own the house for few days before selling it off to the investor....This is NJ by the way 

Hi all...I am new here. 

I am looking at a banked Owned Property. 

Price Roughly $300K

ARV (Zillow) $600K

Fancy neighborhood. Huge House.

Repair: Seems cosmetic Works. livable now. 

I talked to the realtor. Works with investor and no down payment needed from me to make an offer. 

My next plan is to go and see the house. 

I don't have the experience to rehab. So I am looking to assign this to another investor immediately.

So what am I missing? and how will you go about this.