All Forum Posts by: Sven D.
Sven D. has started 5 posts and replied 17 times.
Post: South Hillsboro and the surrounding areas
- Portland, OR
- Posts 17
- Votes 1
@Jeffrey Wannberg in your experience how important is it to be within city limits when searching for coastal vacation rentals? When you say "just south" of Lincoln City, do you mean outside the city itself? Have you found it's important to be close to grocery stores or are renters still happy to rent outside the city and making a trip to the grocery store / casino. How happy have you been with property management companies in the area?
Post: Forming an LLC to hold land
- Portland, OR
- Posts 17
- Votes 1
Hi all,
I found a piece of land for sale for a good price at auction that allows financing. Thing is, I don't want to do anything to the land right now other than demo the house and fence the lot for later until I'm ready to build town homes a few years down the road. Would forming an LLC help protect me from liability in case somebody was squatting on the lot and ended up hurting themselves or something? What sort of insurance do I need for vacant land? I am a resident of Oregon where it looks like it is very simple and cheap to form.
Post: Is it wrong to utilize multiple agents?
- Portland, OR
- Posts 17
- Votes 1
I appreciate the feedback thanks.
Post: Is it wrong to utilize multiple agents?
- Portland, OR
- Posts 17
- Votes 1
Does it generate resentment if I have multiple agents searching and sending me listings? I would never take a listing sent to me by one agent and bring it to another one to close with, but I still don't want to develop a bad reputation for myself locally. Thoughts?
Post: Can I put an offer in on a foreclosure before the auction?
- Portland, OR
- Posts 17
- Votes 1
@Ben W. Thanks for your reply. My plan is to go knock on his door and ask if he wants to sell. If he answers yes, I plan to investigate his financial situation/house condition and see if there is a win/win for both of us.
Post: Can I put an offer in on a foreclosure before the auction?
- Portland, OR
- Posts 17
- Votes 1
Originally posted by @Ben W.:
You definitely need to know what position the liens are in and other items that could be impactful. Title searches and/or the proper due diligence are pennies compared to the amount you are thinking of investing here. Remember the saying Uncle Ebenezer used: treat it as a business and it will pay like a business; treat it as a hobby and it will pay like a hobby.
Also, this info on foreclosures does come up earlier than just a few weeks before the sale. If you find this form of investing interesting, take the time to get the info earlier (it is public, but you may have to subscribe to a court paper). Research the opportunities and reach out to investors and banks. I have purchased pptys pre foreclosure by simply bringing payments current. Another twist on that is the lease option. Another angle is the outright short sale, but that may take more time (and is not one of my favorites because I have to actually pay $ for the house rather than using a no or low money down technique.
Until you do the research, you really do not know the whole story.
Happy investing.
If a property is in pre foreclosure with an outstanding balance of ~$80,000 + fees and interest, can I knock on the owners door and offer them an amount, say $120,000 and go through a normal sale? Or is that only possible if their back payments are made? Is there any way to protect the back payments or are you only able to hope that they don't walk off with your money and back out of the sale?
Is it safe to assume that documentation that was entered at the county office that day hasn't been available to other investors before that day? Or do other agencies or organisations get a first pass look at upcoming pre foreclosures?