All Forum Posts by: Account Closed

@derek B. 

Thats where I have pulled all of my information thus far. Went back, there was just notices from a code compliance officer saying an exterior inspection was done and an inside inspection is required but no correspondence from the owner.. I think i'm going to start skip tracing since I got nothing of detail so far.

@Chris Martin I definitely need to dig up more info I'm aware of that, and I would def. get a title check done before ever making a deal.  But I'll have to recheck the notices on the door for a trustee notice. I'm going back today so I'll keep it updated. Hopefully I can find the trustee in charge of this. Also what is a BK? I'm aware of a probate.

Thanks guys

Thanks @stevebabiak

Thanks for the info guys I'll see what I can dig up. As far as tax lien foreclosures go, does anyone know how that all works in NC (how long it takes til the county forecloses due to unpaid taxes?) I'm in the triad area, around Greensboro guilford county.

So I was driving for dollars and found a distressed property in a great neighborhood! Problem is I can't find the owner. The house is obviously vacant old newspapers, overgrown brush, city violations in door, etc. I looked at county records but the owners address is the same as the mailing address. No alternate mailing address. How do I contact the owner?? Also I looked up the tax bill and they haven't payed their property taxes since 2006. They owe 26,000 dollars in back taxes!! It's in a really desirable neighborhood and I figure the ARV is around $180,000. I expect this property is paid for since the deed is from 1981. How should I approach this? How long till a tax foreclosure takes place in NC? Please help!

Thanks

@jerredsleeth 

 Thanks that's what I've been reading, I just didn't know if they had a specific rule. I feel like my numbers are pretty strong to move on and get a cash out down the road!

@jerredsleeth 

 Thanks that's what I've been reading, I just didn't know if they had a specific rule. I feel like my numbers are pretty strong to move on and get a cash out down the road!

Hey guys,

I am looking at buying a Condo and have a question on refinance after the initial purchase. What is the seasoning requirements for a conventional loan. My plan is to purchase conventional then do a cash out refi because it is undervalued (also it is a short sale) Everyone think this is a good deal? When can i get my refi cash out? should be about $20,000 ?

The numbers 

-Based on 4 other comps within the same building complex all the same bed/bath & square footage that have sold from 70,000-80,000 within the last 3-6 months

Asking Price- 55,000

Purchase Price- 50,000 

Market Value- 70,000

Water,sewer,gas,garbage- included in HOA & electric paid by tenant

Hey guys, 

I got a deal, which would be my first- a foreclosure which has some equity, just needs some tlc. I made an offer with FHA financing because I plan to live in one unit but the offer got denied because the seller doesn't want to have complications going through FHA. I need a low money down option to buy this property. So I was thinking about hard money, I'm curious as to what kind of average holding costs/ etc I'm going to be looking at if I buy the property at 90,000. I expect the property needs about $10,000-15,000 in repairs and expect the ARV to be conservative around 150,000. What would my avg holding costs be?

Hey guys, 

I'm under contract with my first duplex! Now I just need to start structuring my business. What should my first step be? Starting an LLC for my business?