All Forum Posts by: Josh Caldwell

Wouldn't it be easier and much more predictable to buy existing rental units with renters already in them?  

There are two ways that I know of. One is to hire someone who can scrape that data from your county records. You can do that thorough several outsourcing websites. The second is to follow the sheriff sale announcements, and contact the property owners very quickly.  Either way will work. Then once you contact the owners, you can sign a contract with them that says you will make up their back tax debt in exchange for their house.  You may have to pay them a bit for their equity, but if they dont cut a deal with you, they are going to lose their house and get nothing. Whatever you offer them should be better than the nothing the tax man will give them.  WARNING, you NEED to do a title search first to make sure there isnt a 100k mortgage luring in the background, and you NEED to get them to move out BEFORE you pay any of their debts, or you might learn a painful lesson in human nature. 

You can test it yourself, you can buy the test kit at Home Depot or Lowes.  It's pretty cheap.  Is the house old enough to have lead paint?  It would have to be built prior to about 1978 or so.  You can be sued for lead paint, and pretty much anything else. You dont even need to do anything wrong to get sued. Lawyers gotta eat too. 

Well it takes less than a week to receive a hard money loan, even when the underwriters are overwhelmed, so getting a loan in a few months isnt a challenge. As for the terms, check your inbox 

Yes Pay a VA to do it or hire someone on an out sourcing sight to do it for you. They will use a data scraping program and get you the data you are seeking in minutes. You can either have someone else to time consuming tasks for you, or you can was a lot of your own time getting very little useful info.

That is a super bonus to anyone with kids.  They can walk to school, stay for after school activities, and never have a problem with a bus running late.  You might want to sell that one to a retail buyer. 

The best way to learn quickly is to network with other local investors   Find a local meet up, finnd several and start attending. That way you get exposed to the deals of 20 people rather than just your own deals. That will accelerate your learning curve. then come to BP and ask questions about what you are learning. 

I might be able to help. I will PM you for more details 

I would be surprised if any conventional lender will touch this one. You have two issues. First being that you need to separate the lots.  All you need is a lawyer and about $3500 to do that, if my memory from 2012 is correct (adjust for inflation).  You also need to rehab one of these at least.  That puts you into hard money lender territory. 

Pre Foreclosure BY FAR with one caveat.  You need to do a title search, so you don't step on someone else's landmine. In pre foreclosure you have a seller who has two options, sell to you and get a little money or go down in flames, lose everything, have their credit destroyed, and be humiliated in front of all of their neighbors. Not to mention the added bonus of being tossed out of their house by the sheriff with little to no time to gather their belongings. There is no worse way to lose a house. Your seller is desperate, and you are their only hope.  You can capture huge equity simply by helping them move and taking over their debt. market price is irrelevant at this stage, they cant wait for a better offer. You need to have the money or be able to borrow it (hint) to save their property, in most states you can stop the sale up to the day of the sale. You can even redeem the sale after the it happens but the is an advanced technique for a later discussion.