All Forum Posts by: Renee Pie

I have a seller that has a 2900 sq ft house in rough shape. 4br/3ba.

He's priced out the repairs at 45K if he does it mostly himself. He's imagining a REALLY nice house when he's done. I'm figuring 60K for a pro to do the rehab to a GOOD house at the end. (Haven't had an estimate done yet)

Comps in the area are right at 200K. My on-the-safe-side number is 180K when it's finished.

Rents are 1000-1300 in the area.

He managed to get the state to assess it, as-is at 65K.

He's asking 50K.
He bought it in March for 35K from HUD.

I'm happy to hand this off for a birdDog fee. Or, woud I be a fool to not get it under contract and wholesale it?

Great! Thanks for the info!

I have a potential seller that bought a HUD home 6 months ago. He tells me they messed up the paperwork and it is no longer considered a HUD home, so he is not required to live in it for the required 1 yr. Is there a way to verify if he's clear to sell it?

Thanks!

I've been reading and reading and reading about strategies and all things REI. I've learned about preforclosure and subject-tos, etc.

But, I've also learned that Maryland has squirrely laws about such things.

As a MD investor, what should I be aware of? What is different about our state laws vs. most states? At what point should I step away from a seller's foreclosure situation?

In terms of subject-tos, how are banks reacting to these now days? What if a seller includes it in a bankruptcy?

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