All Forum Posts by: Patrick Spearman

Wayne, thank you for your perspective but no it's not a short sale, bank owned, auction property... I just got that info today. Like I said I'm going to by it cash and rent it out. My fiance' doesn't want to refi it so I guess we'll just hold onto it until whenever. The neighborhood is definitely changing for the best so everything looks good now to move forward...

Thanks everyone for your input...

Ok, thanks for the input on the warranty deed. I'm like you though, why so low a price??? Well, I'm going to see the property up close april 11th... I'll keep you posted.

Thanks again

Hello,

I ask this question because I come from the school where 'if it's too good to be true...it is'. So allow me to explain. I have this property in another state that my fiance' found for a really phenomenal price considering the market area and recent comps. My issue is that I've looked at the records history and I've seen some history that causes me to pause. In 2019 the property sold for $175k, but the house is listed (not a pre-foreclosure or short sale) for around $20k. The market comps are around $60k and it's already occupied. My main question was and is, "If I purchase this property will I have issues down the line because it's a warranty deed?"

Please, I have plenty of experience fixing and rehabbing property, this is a adventure being a true investor!!! I'm extremely excited to finally venture into our first solo project, my fiance' and I, and I want to thank this community before hand... thank you!!! I've read the discussions and responses to many post and I must say, my money was well invested!!!

Thanks again,

Pat