All Forum Posts by: James Tobin

@Greg H. @Mark Ferguson are pool sales just them selling a group of homes all together?  And would that go through a broker?  Just curious...

@Jacobo B. that's what happens to the majority of them here as well.

@Bryan H. that makes sense and I actually got a chuckle that I didn't think of it that way! I definitely keep an eye on it and thanks for the reply. Is this something that's fairly common with HUD? I guess I shouldn't think the government is going to be any more efficient than a bank...

There's a house in my area I've had my eye on that's been vacant for just over a year now and has never been listed. When I researched the tax information, the owner is listed as HUD, with the previous owner last paying taxes in 2012.

So this is not an REO correct? I'm assuming that if it were bank owned, the bank would be listed as the owner (this one shows the Secretary of Housing & Urban Development as owner).

And is there any way to make an offer on this house since it's unlisted? If it's truly an REO, most of the discussions here led me to believe that until it's listed by an REO agent, there's little chance of getting a reply directly from the bank. But if it's a HUD home is there a way to make an offer since it's never been listed...at least not since I've been watching it?

Thanks! 

Congrats!  Looks like it's in great shape; just find a tenant and go.  Can't get much more turnkey than that!  You say you shopped around at BP first but ultimately did the deal yourself.  If you don't mind, how did you finance it?  

@Doug W. congrats on getting the first one under your belt.  as a newbie that's been reading and absorbing as much as I can, I can relate to doing busy work and convincing myself I'm making strides...

What finally got you in the game?

@Katie Neason thank you very much!

@J Scott in your ROI section, how do you get to the annualized return? Conceptually I understand what it represents, I just can't figure out how to figure out that percentage...and everything I've googled isn't specific to real estate investing and uses a formula that projects beyond one year. But I love how clean this and clear this is.

@Mike H. That is such an amazing strategy. Really creative, thanks for sharing. Do you use the same HM lender for all your deals? And was it difficult to find someone that would finance 100% plus rehab costs? 

@Wendell De Guzman as many have said before, thank you for posting each week.  As a newbie, this has been soo informative and I've learned so much.  I'm sure I'm not the only one who will be sad to see these updates go!  Thank you again!