All Forum Posts by: Terrance Merck

Thanks for input Ray. I will contact tax office.

Thanks for input Ray. I will contact tax office.

I currently have my eye on a vacant 5 unit apartment that I hold like to fix and rent. It has been vacant for several years  due to the untimely demise of the owner. The property is behind a couple years in taxes. I have contacted family members of property but have been unable to locate the deed holder. Family members have informed me that the person believed to have inherited the property (previous owner daughter) is unable to Manage and/or keep property up. I have tried direct mail and code calling and have been unsuccessful in making contact with daughter because the property she was living in has been condemned by the city and this is her mailing address. The county tax office still has property listed with deasesed and there is no deed on file. I thought about paying the taxes but I am not familiar enough with process. In short I am looking for any strategy that can put me in position to acquire this property. All input is appreciated. 

Congratulations! That is solid news. Thanks for sharing!

My team currently has and investment property in Ohio under contract that we are looking to convert into 48 unit apartment units. 

Acquisition is $500,000 and it will cost roughly $5500000 for construction and upgrades. we are seeking alternates ways to assist with financing project. Any input concerning traditional lending experiences, hard money and private money is welcome. 

Thanks Sean Roland for your perspective and Adam Schneider for providing insight and solutions. 

Thanks all. I agree that he may not be familiar with process. He is willing to pay full amount just unwilling to commit to contract. 

I wholesale property in North Carolina. I recently placed a 4 bed 1 bath under contract. A real estate agent responded to my advertisement and agreed to buy property. I explained to him that I currently have property under contract and that I am wholesaling property. I sent him a copy of my purchase and sell agreement along with assignment contract for his review and signature. He informs me that he does not think contracts are assignable nor transferrable and would rather use NC standard purchase and sale contract and deal directly with seller excluding me from deal with a verbal agreement from seller to pay anything above agreed sell price. I have used same contracts in the past with success and no problems. My question is are sell and agreement contracts assignable and transferrable in NC? I am almost certain I am correct but would welcome insight and advice from all. 

Thank you

Thanks Dawn attorney completed title search in 3 weeks a few more particulars to hash out. I will definitely keep Brian Elam in mind. I do attend REI meetings in area. Deal Makers is pretty awesome. Eric F. It is a cash deal and thanks for inPut and advice.

Thanks Charles Smith. I figured that this was unusually long. Does anyone know of credible real estate attorney in Winston Salem area who is familiar with wholesale process?