All Forum Posts by: Scott Freer

very interested. Is there a lease option?

Get with me with locations I may be interested in some B/H deals.

It's not going to kill the deal if it is a DEAL. He will come to you in the future for more deals. What do you think they think you are? I'm sure they are aware.

I was just checking this outfit out because a friend wanted to see if it was for real. Here is the skinny from factual Philadelphia (where I live) tax records.

http://property.phila.gov/?p=882850900

That would be great.

In a nutshell, I separated from my wife for two years then we filed a no fault divorce through a friend to save cash 6 months ago. There was no distribution of assets, no child support or visitation issues addressed we handle it on our own. Here’s the trouble, the house is in my name.

She decided she wanted to move so she decided to stop paying the mortgage for eight months to save up for the big move so she is behind by $13,000 ($1,600 a month escrow included. Yes I owe taxes too). The house is valued at $140,000 and she owes $160,00 due to a refi. We have owned the house for 15 years and we have gone from Country wide to Green tree and now Ditech.

What the heck do I do to get out of this mess? I’ve been on the other end of this as a buyer, but I don’t need a degree to see this is a short sale situation. I know less than nothing about short sales. Please help.

Thanks Mike. I'm an avid loopnet and city feet watcher. I still can't find a sweetheart deal. I appreciate your help. I own a bit of commercial/retail props in Philadelphia and I may be able to use your expertise. 

I am looking for a partner or finances for a fully rented 13 unit medical office building. The owner is willing to work with creative financing. 

The building gross income is $268,881 a year with P&I of $100,000 and gross NOI of $109,000 it would cash flow at $59,000 a year plus 5% VA ROI would be $45,000.

Any interest in an equity position?

Hey BP gang. I am looking for 5 to 6 office multiplexs. Each can have 4 to 15 offices. I work in / with a 5 location medical practice in Delco. Bucks and Philadelphia. The idea is to stop hemorrhaging from rent every month and get buildings for ourselves. Even if we don't make a dime, the lack of rent payments will increase our revenue in the 6 figures.

The other problem is lack of liquidity. We are not liquid enough for large down payments and are hoping to find creative financing. We are looking to move pretty quickly but agents are not always helpful with lease options or equity partnerships and deals of that nature. We don't have an agent ourselves but are not adverse to it under the right circumstances. Any help would be greatly appreciated. 

If you own a home and have equity a HELOC is the way to go. Never use loans, you start paying them back at inception. Lines of credit are there if you need them and for how much you need. Loans also have pre-payment penalties. Refi the properties to pay back the HELOC, go at it again.