All Forum Posts by: Sara Passaro

If you are a wholesaler in Pittsburgh, and have a Title company you love to work with, please comment with the name of the company. Tell me a little about why you love to work with them, and believe they are the best. Thanks in advance!

Thank you! I checked they are all still in the name of his LLC. Sounds like good news. I am meeting with him tomorrow to see the properties and call the bank where the mortgages were held and the tax collection agency to find out exactly what is owed so I can formulate my offer/negotiate some on the back taxes

@Account Closed It was Chapter 7, discharged 10-18-2011. What does this mean for the seller and I? he doesn't want to sell them, he wants to give them to me. I realize IF I can do this, I'll have to pay the overdue taxes or at least a portion of them. 

@Rick Pozos thank you for your advice as well!

@Mike M. Thank you! This is very helpful, having the right questions to ask. I appreciate you taking the time to respond.

Need some advice...I have a "seller" who owns 17 SFH, he only wants to keep the 7 that are currently rented out. He had at one point owned 50 houses but stopped talking care of them. He has sold most of them a while ago.

I use “seller” loosely because he literally told me he is trying to give them away. He can't sell them because he filed for bankruptcy. He just wants rid of them. He wants to give someone else a great opportunity to make money he told me.

He still owns the properties because of the bankruptcy, but they all have back taxes. There are about 10 or so sitting vacant, the county/city/schools are getting no taxes and haven't for a few years. He told me he would go with me to negotiate them down. I would essentially just need to pay the delinquent taxes.

They are in a hot zip code area for Pittsburgh, not high home values but good for rentals. $800 or so a month. They all need a significant amount of work as far as I can tell from talking to him and looking online. (copper pipes, roofs, furnace, windows, paint, carpet, kitchen/bath updates the whole 9)

I am so new (haven't closed a deal yet!) and we want to start acquiring rentals by the BRRR strategy. I have no idea what I'm doing really.... but this seems like a great deal. Is it? What am I missing here, can anyone tell me the catch involved with this bankruptcy/delinquent tax situation?

If you were me just starting out (assuming I can get these properties) would you wholesale them all, find a private lender to fix them up, refinance, and hold them all with tenants, or do some of both? What kind of paperwork is even required for this type of transaction since it’s not a “sale” of property?