All Forum Posts by: Tim Wilkinson

Hello Community,

I know of a couple properties that have mortgagors in default for a long time. Sometimes they are staying years without paying a payment. In Maine recently, I know a man who lived almost five years in his home without making a payment. 

My question is this:

Can a short sale offer be made directly to the bank without including the delinquent owner? Or do all short sales have to have the delinquent mortgagor included for ethical reasons? I only hear about short sales being initiated by the bank and an agent that specializes in them. 

Is it possible to avoid this whole process with an offer to the mortgagee?

there are lots of suburban towns you might find are more in the middle. Framingham and Marlboro typically have multis that are not dumps, yet don't break the bank. 

ARV on above property = parcel 1: $650,000

Parcel 2: approved building lot: $300,000

I have a home run flip opportunity to present to the right parties with non-compete, non-disclosure agreement. 

Property is not on market. 

It will be subdividable with town approval of a deeded right-of-way (driveway to access second parcel)

This area has a great absorption rate, as there are only 9 homes on the market, and 27 have sold recently (sellers market). 

All expenses discussed with serious parties.

Total investment will be over $500,000 + can be under $150,000 using HML.

Terms negotiable.

Regards

I have a home run flip opportunity to present to the right parties with non-compete, non-disclosure agreement. 

Property is not on market. 

It will be subdividable with town approval of a deeded right-of-way (driveway to access second parcel)

This area has a great absorption rate, as there are only 9 homes on the market, and 27 have sold recently (sellers market). 

All expenses discussed with serious parties.

Total investment will be over $500,000 + can be under $150,000 using HML.

Terms negotiable.

Regards

Brockton has tons of inventory. Also, Fall River/ North Attleboro, etc. may have what you are looking for. Ask someone from there about the neighborhoods, but those have your best chance at a great cap rate. Best of luck.

common area is perfect for it. I agree with Roy. Sheet vinyl or hardwood in the unit. 

Hello all,

I am hoping to get in contact with a buy and hold investor that is looking for properties in upstate SC. I have a SFR that is looking to have an "at cost" subject-to mortgage done. The home is 2/1, 1350ft approx.

More details when we chat. 

Cheers!

thanks, @ Michael Paris:

They have 1 acre requirement with 150' of frontage. I understand that I am still at the mercy of the town to approve such a plan. 

Same in MA. If he gets mail there, and has any bills with that address, you'd have to evict same as the others.