All Forum Posts by: Todd Sullivan

Hello all!

I have an opportunity to buy a house, which looks very promising for a good profit. However, i have found out the property has a buried oil tank, which immediately makes me worried. 

Go with my gut and pass, or dive in?

Thank you all for your input!  I’m brand new to investing, and trying to figure out a strategy to follow is tough with so many options out there. Again, thank you all!

Thank you for the replies!  This is of great help. I really, truly appreciate it. 

Hello All!

I am trying to find out strategies to finding foreclosures and short sales outside of the mls. Has anyone had good experience with RedX?  I called my local County Clerk and they said they don’t compile a list. The Records Dept isn’t of much help either. They occasionally put a list out for tax liens, but that’s it. 

Thanks all in advance!

Hello All!

I have found Subject-To investing to be particularly interesting, and with what the market likely will see from Covid-related foreclosures, I think there will be a landslide of opportunities for this investing strategy, correct?  I like the fact that this strategy saves someone from a foreclosure, while costing a good amount less to invest and time to get the deal.

I've been doing a good amount of reading on the subject, and I'm looking to really understand it fully.  I've interviewed an attorney who has experience in the process, which from what I've read is step #1.  What does the usual investment incur?  If you do cash for keys, what's a fair dollar amount?  Are there any experienced investors that have a good amount of experience in this that I might be able to ask some more detailed questions?  Any particular caveats I should know, other than if a bank calls the note due? 

Thank you all for your time!

@Blaine Brown

We are looking there for a few reasons.  My wife's parent just bought a house in Millsboro, so it will keep my step-son closer to his grandparents and he might be part fish.  We can't keep the kid out of the water!  He loves the ocean.  I'm a scuba diver and he wants to get into diving as well and Delaware/Maryland seem like pretty decent areas for ocean activities.

Hey all!

I'm curious to know your take on places like Delaware and other mid Atlantic states vs deep south states as to where people are moving to.

I live in NY and we have seen a mas exodus over the last couple of years.  From what I'm hearing, most people are going to states like Florida, the Carolinas and even Texas.

My question here is if states like Delaware and Maryland are good investment states?  What are people in those markets seeing or foreseeing in the next few years?  My family is considering making the move to Delaware or Maryland in the next 5 years or so, and I'm trying to form a plan to get investments started there in the near future (visiting down there once or twice a year on average) until we move down there.

Any insight from people who may have done something similar would be hugely helpful!

Thank you!!

@Lee Ripma

Okay!  That's makes perfect sense.  And yeah, I can see the upside to that vs a house in such poor shape you have to finance the whole thing.  Thanks for the info!

@Lee Ripma

Please forgive me, this may be a whole other thread (I don't mean to hijack the thread), but what is Stabilized value add?

Thanks in advance.

Hello all!

This is my first post on Bigger Pockets, and am very glad to be here! I am new to investing and have a ton of questions and am constantly looking for more information so I can fully wrap my head around the world of real estate investing. My target is to utilize the BRRRR strategy and find distressed properties to build equity since I work full time in a different field as recommended in the Greene book.

While looking for houses in my local market, I've seen a few houses that need work and I'm looking for guidelines or a playbook of sorts on what rehab projects are best to add equity to a house.  Obviously, updating a kitchen or bathrooms are big and doing projects like a needed roof to protect your investment are key, but what about room layout?  Say, for example, you have a small 3 bed/1 bath house and the rooms are very small.  Would it be best to make it a larger 2 bedroom 1 bath or 1 and 1/2 bath depending on layout?  What layouts show the best value for equity, etc.?

Thanks everyone!!