All Forum Posts by: Oscar S. Holguin

Hello all I have a question that i cannot seem to find the answer to and have never come across. Have an owner whose father passed away and did not leave a will. Of course the son who is the only aire to the property wants to sell but cannot afford to pay the lawer for the intestate. 

It still has a loan balance and some back taxes which makes it almost and impossible cash deal but the subject to will work perfectly, my question is, is it possible to do a subject-to with the son even though he is not on the title officially? Im assuming no but im not sure if anyone else has ran into this issue or has found some way around this.

Im stuck between the fact that he cannot pay for the intestate fees upfront and that i can only get the fees paid at the back end of a closing with the title company if it is a cash deal. Does anyone have any insight? Thanks!

Learned alot from this deal. Finally closed a few months ago for a small profit around 13k. If anyone reads this in the future i would caution to learn your ARV/Rehab costs in advance and to understand what is required to make a forclosure flip work, in perspective these tend to not have much room for profit at least in my area. (not talking about pre-forclosure properties) Also KNOW your market, if you can immediately tell the arv in that subdivision does not make sense for your purchase price KEEP LOOKING theres deals everywhere and you can find one that will make sense in your profit algorithm

@Thomas Handy Hello sir, would you be able to add me to that group? I am highly interested in networking and meeting more investors to share thoughts and properties.

Thank you

Thank you for your replies! Rehab costs are coming from my paycheck and an original real estate fund I started when I was 17. I'm doing room by room. And to clarify I replaced the water heater not fixed sorry. I originally believed the property to appraise higher which was my mistake. There's only about 7k worth of rehab to get it prestine mostly being the flooring. Which isn't an issue. For now I'll get situated and bring the mortgage down and work some overtime to bring pmi down quicker.

Hello all! I have recently closed on my first deal a va foreclosure that was appraised last year at 129k PP was 96k and the new appraisal came in at 106k (The house is needing tile,water heater, repair to a parapet stucco wall and a few things) currently I have fixed water heater and am lining the floors with LVP. I struggled to close on the deal but was able to close with 3% down conventional loan with tsahc assistance. My question is what can be my next step? After talking to the bank I cannot cash out refinance untill my loan amount is around 66k. Did I make a wrong move? The house is my primary residence but could rent out for $1100+ easily once fixed. My main question is how do I get into another property from here? Am I stuck untill I pay down the mortgage or find a seller-financing option on another home with a low down payment?

Awesome sounds perfect!

Hello all! My names Sam, I joined the site a few months ago and finally decided to say hello! I'm closing on my first property this week (learned to understand va forclosures the hard way) All in all I happy to be here and begin a path to financial freedom! I live in El Paso, tx and work as a paramedic in midland/Odessa Texas. I achieved my year goal of purchasing my first property, now to keep moving forward I hope to meet and connect with as many of you as I can, If there's anything I can do to help y'all; just send me a message and I'll do my best!