All Forum Posts by: Shequann Burrwell

so in essance they most likely they will have no choice but to move out then?

this lead came in to my email today just wondering what can be done to help them.

(My family and I are in need of 350k or so to purchase the home that we have been renting for about 3years. Our stay here has been great but our landlord seems to have ' opted out' of paying his mortgage and we just learned that the home is now fully owned by Freddie Mac, and they'd like us to buy or move out soon.

I would purchase the home personally, I just can't do so yet. While I have a good job/income and generally good credit, I do have a short sale on my record from our prior home. Because it closed within the last 3years, I am unable to get a mortgage. So, I am looking for options and a friend suggested I try here

i believe that Freddie Mac values the home for about 360k but the market value of the home is about $450k if it were to go out for sale via a realtor. The home is a 3 bedroom 1.5 bath expanded cape with a garage/basement underneath. The property is about 1/3 acre and is pretty flat. Entire property is in great shape and needs little to no work. It is in a really nice neighborhood and is surrounded by well maintained homes.

This could be a great investment opportunity for someone with the right resources. I'd like to borrow the money to purchase the home, and we could refi in about 2 years to cash you out. I guess I am open to ideas as to the cost of such financing.... Monthly payment plus bonus at end of the period? We were previously renting for 2300 monthly and I handled all maintenance, so that could be part of the agreement. Also, the personal loan would be backed by the home.)

I was thinking a hard money loan since they are looking to refi in 2 years any way. this is all dependant on their credit and down payment amount but looks like a great lead for a hard money lender. feel free to chime i think i can learn something from this.

7 buildings (76 units total) all located in the Norfolk apartment community *rehab & reposition *Value add

After rehab you can refinance all your initial down payment out! ZERO actual cash investment and it will still cash flow well!!

Google map overview of area:

- 2003 Landing (20 units) *recent fire, half vacant, dated interio rs, low rent
- 4004 Newport (8 units) *2 units gutted, drainage issue, dated interiors, low rent
- 4305 Newport (6 units) * fully occupied, in "decent condition", low rent
- 4303 Newport (6 units) * fully occupied, in "decent condition", low rent
- 4913 Cawood (6 units) *fully occupied, in "decent condition", low rent
- 4919 Cawood (12 units) * completely vacant, total rehab required
- 4307 Norbrook (18 units) *in need of several cosmetic rehab elements, low rent

Asking price $1.5M *can get for $1.3M*

I have several recent sales comps ($35k - $40K per door appraisal value). have rent rolls from june available as well a repair budgets

Seeking a buyer for a probate deal that i have owner is looking to cover the mortgage plus a little more.

21 Russo Dr Hopewell NY

Single Family, ranch style home

3 Bed 1.5 Bath, 1,400 sq ft , 1.1acres

Finished basement, Fireplace, Located in nice neighborhood on cul-de-sac. Probate has been vacant a few months, updates are needed. Has new oil tank and gutters.

ARV = $275,000

As-is = $200,000

Renovation = $30,000 (contractor estamate)

asking $170,000

21 Russo Dr Hopewell NY

Single Family, ranch style home

3 Bed 1.5 Bath, 1,400 sqft , 1.1acres

Finished basement, fireplace, located in nice neighborhood on col-de-sac. Probate has been vacant a few months, updates are needed. Has new oil tank and gutters.

ARV = $275,000

As-is = $200,000

Renovation = $30,000

asking $170,000

I have a buy and hold property in Poughkeepsie NY. Owner needs to sell due to divorce and wanting to move out of state for a job offer. Under contract for $181,900 asking $186,000. price has been dropped $20000 to $169000 asking $174,000 thats including assignment fee. It's a 3 family house 3 floors full basement with 2 car garage. Need no major work at all. Apt are as follows 1st floor is a 2 bed room already rented for $1100 a month with its own porch. 2nd floor is a 3 bedroom with hardwood floors. 3rd floor is is a 1 bed room with carpet. updated appliances in each. first and second floor have own private porches. In a great part of the city right by the post office and around the corner from city hall and the police station. taxes are around $4300 a year. new furnace and hot water heater last year and roof 5 years ago. went and saw the house today and it really is in excellent shape and ready for a new owner for buy and hold.

The property doesn't need any work beside whatever changes the new owner would make. the 2 bedroom pulls in $1100 a month. the owner lived in the 3 bedroom but is currently moving out. i estimate you can get $1400-$1500 on the 3 bedroom and another $800-$900 on the one bedroom. i was also thinking you can rent each room separately to college students for $700 a room. marist college and the culinary are less than a mile away from the house, with vassar college and dutchess community college with in the city as well. there is a lot of room for profit in this home either way you go with it. safe neighborhood and great neighbors close to entertainment and the local post office as well as the hudson walkway and river. both hospital are a few minutes away along with the malls and good selection of gyms and restaurants and churches.

actually im looking to wholesale it. the property doesn't need any work beside whatever changes the new owner would make. the 2 bedroom pulls in 1100 a month. the owner lived in the 3 bedroom but is currently moving out. i estimate you can get 1400-1500 on the 3 bedroom and another 800-900 on the one bedroom. i was also thinking you can rent each room separately to college students for $700 a room. marist college and the culinary are less than a mile away from the house, with vassar college and dutchess community college with in the city as well. there is a lot of room for profit in this home either way you go with it. safe neighborhood and great neighbors close to entertainment and the local post office as well as the hudson walkway and river. both hospital are a few minutes away along with the malls and good selection of gyms and restaurants and churches.

Under contract for 181900 asking 186,000. It's a 3 family house 3 floors full basement with 2 car garage. Need no major work at all. Apt are as follows 1st floor is a 2 bed room already rented for 1100 a month with its own porch. 2nd floor is a 3 bedroom with hardwood floors. 3rd floor is is a 1 bed room with carpet. updated appliances in each. first and second floor have own private porches. In a great part of the city right by the post office and around the corner from city hall and the police station. taxes are around 4300 a year. new furnace and hot water heater last year and roof 5 years ago. went and saw the house today and it really is in excellent shape and ready for a new owner for buy and hold. house is in really good shape inside and out. any other details I need to add I think its a great deal what about you all?

I have a buy and hold property in Poughkeepsie NY. Owner needs to sell due to divorce and wanting to move out of state for a job offer. Under contract for 18,900 asking 186,000. It's a 3 family house 3 floors full basement with 2 car garage. Need no major work at all. Apt are as follows 1st floor is a 2 bed room already rented for 1100 a month with its own porch. 2nd floor is a 3 bedroom with hardwood floors. 3rd floor is is a 1 bed room with carpet. updated appliances in each. first and second floor have own private porches. In a great part of the city right by the post office and around the corner from city hall and the police station. taxes are around 4300 a year. new furnace and hot water heater last year and roof 5 years ago. went and saw the house today and it really is in excellent shape and ready for a new owner for buy and hold.

I have a buy and hold property in Poughkeepsie NY. Owner needs to sell due to divorce and wanting to move out of state for a job offer. Under contract for 181,900 asking 186,000. It's a 3 family house 3 floors full basement with 2 car garage. Need no major work at all. Apt are as follows 1st floor is a 2 bed room already rented for 1100 a month with its own pourch. 2nd floor is a 3 bedroom with hardwood floors.