All Forum Posts by: Timothy Johnson

What's up BP'ers

Just looking to see who's open for coffee and to chat about large multi-family investing. If this is you hit me up.

Thanks!

Also before I go into contract should I run a title search to make sure nothing else is pending that I havent found?

Good point I have not followed back up with him abt it but I will today. Yes saw your reply - yep but I was just looking to have less sharks in the water to compete against on this one :)

Yes except neither of those are applicable. The home owner filed for bankrupcty a few years ago but since the property stayed in his name the taxes begin to pile up as he has moved out of state. And has said he does not care what happpens to the property. But don't wanna sign a contract of sell.

Ok BP - I have a question.

I'm looking into a property that has back taxes on it. The owner has moved out of state and wants nothing to do with it. Is it possible that I could pay what's owed in the back taxes and take over owership of the property without him signing a contract?

Thanks in advance!

@Coral Hernandez yeah good pointers thanks!

@Mikael Winkler, cool thanks for sharing! Can you forward me there contact info and or the person you spoke with.

Also thats a little crazy they send out an inspector for each completed item. As that could be a lot of trips to make if you're doing several things to the project.

Wow @Kyle Altenau, thanks very much for the infomation!

Ok BP, so I wanna reach out to a few hard money lenders to have my money in place once I start getting properties. But want to make sure I was asking the right questions when vetting the HML. So far here are the questions I have come up with.

1. What are your requirements

2. How much do they lend (full ARV or a %)

3. What are your interest rates and do you have any points

4. If I go over the rehab timeline, how much additional would that be

5. Once approved, when would funds be available and would it be full agreed amt.

If I'm missing any additional questions (which I'm sure I am) PLEASE let me know!

Thanks