All Forum Posts by: Robert Smith

@ Say Teoh 

Thanks for the info, I'll see what I can dig up there. 

@Jay Hinrichs . Thanks for taking the time to comment. You hit is right on the head, no surprise there. I have not dealt with it personally but know a couple guys who have experienced the joys of another investor buying redemption rights. 

I haven't been able to contact either of the heirs via phone or mail. My theory is they either A) don't care to have anything to do with the property whatsoever so they don't care to contact me or B) have already talked to another investor and sold their position which they wouldn't have any reason to talk to me then either. I'm going to continue trying with different approaches to see if we can get them to respond. Eventually they've got to get annoyed with me calling all the time right?

Cheers!

@Mike Garland be careful what you read about other people estimating costs on rehabs. I think you are probably on the better end of the labor prices but I know that a true $15k flip in my area is extremely rare. Costs can vary drastically from one geographic area to the another. I would love to be able to help you with estimating the costs once your GC gets them to you but I don't think prices in my market are going to be anywhere close to yours. Even still it wouldn't hurt to post the big line item prices and see what people think. 

As already mentioned, remember, everyone wants to create the most income for themselves via your pockets so be careful. Make sure you visit the site regularly, and don't give the GCba bunch of money for startup costs!

Best of luck!

Hi,

   I'm hoping someone can shed some light on the right to redemption laws in Oregon. I have read several posts here that cover it well but I have a specific question I am not clear on. It is very possibly a simple answer but I'm sure there is someone more experienced that can tell me definitively if I've got the right idea. There is a property coming up for auction later this month in Portland that we are interested in but I'm nervous about buying something that someone else has the right of redemption to. The original debtor is deceased and the property has gone to two heirs. My assumption is that both the inheritors (they are siblings in this case) would have to sign in order to give up the right to redemption, if an investor were to approach them about it. It seems self explanatory but I don't want to miss something and find out about it on the back end. I haven't had any luck contacting wither heirs but have only been trying for a couple days. 

I'm hoping I can catch the attention of some of the gurus that chimed in on other's local posts. Thanks.