All Forum Posts by: Scott Gordon

Yep, I am!

@Bud Gaffney haha I guess I am dumb or maybe asking the question incorrectly. I haven't found a way to find off market properties on the MLS that are non-owner occupied, owned by the same person for a certain number of years etc. I thought the MLS was only for properties listed for sale? And even then I didn't know you could search non-owner occupied etc.

@Joe Villeneuve you can find that info on the MLS?

For those that live in areas where their county websites lack significant information on properties in their area, what have you done to find a list of properties based on criteria you want (I.e. list of non-owner occupied properties that have been owned for 3+ years etc.)

Have you found sites like landgrid.com or others to do the trick?

A friend of mine reached out for help. His parents are in their 90’s and still live in their home but he is wanting to buy their home to take one thing off their plate. They owe $60k on the home and it’s worth ~$110k. What’s the best, legal way for him to do this? Can he just buy it for $60k to pay off their mortgage or will their be some sort of tax/financial implications for getting the home this way (I.e. if they go into a nursing home in the next year or so etc.)

@Richard Betz thanks for the response!

I tried asking him this but he wants cash Or mortgage to get him out of it altogether. Money is not an issue for him, he paid cash for it back in 2013 so he just wants the money from it and call it a day

Long story short, had an off market triplex fall into my lap from a friend of a friend. Had a horrible experience as a landlord and has been living in the place for 4 years with 2 units empty and already bought a new house so he’s paying double right now.

Asking $200k (willing to negotiate a little more)

Appraised for $230k in 2018 in current condition

$35k in renovations needed

ARV conservatively is $250k, more likely $275-285k.

Rents would be $2200-2500/month once fixed up

There’s a house in a neighborhood I’m interested in that’s listed for $138,000. It’s been totally flipped and would just need appliances to rent out.

Listed 60 days ago for $155k

Price dropped to $138k today (zestimate is $159k, not that that’s a perfect measure)

Average rent is $900-$1k

How could I user seller financing to make this deal work? I have the cash to finance normally but want to try and get a deal with my money out of it as much as possible.

Would love to connect with people who have experience with buying foreclosed homes or homes just before foreclosure! I found a house in the neighborhood across the street from me that's a great location. Both owners passed due to old age and it's been vacant since January 2021. I found the daughter through the obituary and contacted her on Facebook. She said it's about to foreclose for $100k. ARV is $200k and needs about 40-50k in work.

Curious if it would be better to wait for it to foreclose or try to offer before it hits foreclosure!

@Alexandra Hughes Pailet I'll be there! Everything is already booked :) I'll be coming with a friend who wants to get into real estate investing but has yet to pull the trigger. I bought my first SFH a few months ago and got it rented last month.

From outside of Pittsburgh PA and looking forward to meeting everyone in NO!