All Forum Posts by: Patrick Martone

I have a combination of 2 HELOCs and cash totaling $375 (75k cash, 100k Heloc 1 200k Heloc 2). Instead of purchasing a duplex rental and do single family flips, I have considered looking for a 6-10 unit building and using my capital as down payment. 

The two HELOCs are in my partner's name. The cash is mine. 

I am not working right now as I am trying to put together a deal and plan to PM renovations. Though it is the last thing I want to do, I have considered returning to a W2 job just for the sake of being able to pass approval for a loan.

Besides Hard-money Lending, what are my other options for financing? Lets assume I would be spending 700k-1.3 Mil on the 10 unit.

 Yes Sir, this will be a mock trial of sorts

 See you there

 http://oprs.co.monmouth.nj.us/Oprs/index.aspx

I entered the address on the consolidated record search on the home page to find the owner. Then entered the owner's name in the property records link (which you sent me). 

Lets use 306 Deal Ave in Neptune, New Jersey as a sample. The owner name PLUMMER, CHRISTOPHER N SR 

Upon entering it in the property records, there are documents of mortgages aggreement and pending foreclosure (LIS PEDENS). 

I found this property on the sheriff site. I will be attending an auction Monday for practice. How would you use the info provided form the record search?

Patrice is my mothers name, great name. 

So I have been using the consolidated records section of this site for searching.I can't find any leins, mortgage info, or back tax info on these foreclosed properties. It just has assesed value and ownership info.

What do I use for instrument number, book number and page number? How would you utilize this site effectively?

 Thanks,

Pat

Free method for doing title search and checking liens/back taxes?

Are there any foreclosure auctions in the Detroit area?

A lot of Detroit contractors flake out, or refuse to come into the metro area. You can try to poach some from the suburbs.

How do you guys feel about Hamtramck?

Does anybody here do commercial flips or renovations? I believe it may be a good niche for myself. I would consider doing my own renovations, and potentially get licensed as a contractor and find my own clients.

I want to take distressed industrial/commercial spaces, and convert them into storefronts or creative spaces for small businesses, cowering spaces, artists, musicians.

I have worked in construction, civil engineering, and interior design so I can value-engineer the property to maximize the profits through flips. If I decided to hold onto it then I have considered opening my own retail business, renting the remaining space as storefronts, renting parking spaces etc. (I am envisioning converting an auto-garage with 4 bay doors into 4 stores with a new facade)

During the rehab I would be using the space for my own personal projects so the holding costs would not be a total waste. I pay rent for a personal workshop which I want to leave.

Please let me know your thoughts and any information to get me started. This is probably a high risk and specific niche for a beginner like myself.