All Forum Posts by: Tim Herman

The numbers do not make sense. After repair value is $400,000 but only need total of $63,000 to purchase and rehab. If true buy and flip it.

Do you own your own home or rent. If you rent house hack. You can buy up to 4 plex with 3.5% down rather than 25% down on a multifamily. Get your feet wet first.

If you have an address of a property you can look up the owner at the register of deeds. They will have a mailing address that can write to them. Might be able to find a phone number for them.

Here is what I found out about tax sales in Alabama. In Alabama, you can generally get your home back after a tax sale by redeeming it within three years of the sale date (Ala. Code § 40-10-120). It doesn't"t look like you own the property yet I don't know if you can recover any costs with fixing the property. Try to find an attorney in the area that specializes in real estate.

They are talking about title insurance, If you are purchasing a property you want to know that the person selling you the property actually owns the property. I buy with a buyers agent and use their preferred title company. If you are buying off market properties you can ask local real estate agents who they use. Good luck

Welcome to BP I have only been a member for a couple of months. I am getting ready to retire to Rapid City. Most of my investing took place years ago and I want to ramp up my real estate holdings. Hopefully see you in Rapid in the near future.

 I'll be back in April I'll message you and maybe we can meet up and talk real estate investing. Happy investing. Tim

 Sorry I didn't get back to you in a timely fashion but I listened to Michael Blank podcast and then went out to dinner. I like what Michael said about investing in multifamily units and have looked online but the returns are not what I would like. I plan to live in the Rapid City area but invest anywhere.  

 My daughter is a resident at Hershey, she bought a house here. Spending the winter months here until the spring and then going back home to North Dakota and getting my house ready for sale so I can move to South Dakota. I have looked at property here but can't find it cheap enough to cash flow. Hummelstown would be a good fit for renting to Med students or residents. My present Med students are wanting to renew for another 2 years. Trying to decide how much to increase their rent for the next two years. 

 Sorry about the last post Didn't write before I posted, My med rentals are in East Grand Forks MN. Med students know they are accepted by the end of February. New student orientation is end of March. I contact the admissions department and have them send out an email with my contact info. I schedule an open house during new student orientation and have them fill out applications. Usually do a closing walkthrough and new tenant walkthrough on the same day. I have even rented sight unseen. Collect my money up front for the deposit and collect first months rent on walkthrough.