All Forum Posts by: Tommiesha Purnell

The scary thing is the fact that they even felt the need to make a whole bill behind this situation. Think about it has this ever happened before. Its something they are not telling us.

They owe thirty two hundred from last years taxes. I have reached out to them about selling waiting to here back just not sure which direction to go it will take about 40000 to fix it thats even if it does have foundation issues. After repair value would be around 110 and some change. Train of thought is if I go about it this way then it would gaurentee a return because Im not buying the property for them Im only doing the repairs which would leave a 30000 dollar profit. Granted it would only be 15 thousand. But if I did buy the property for lets say 35 thousand plus the repairs of 40 thousand which will be in a hard money loan. So without calculating the interest and nothing left to spare I would be 75 in the whole which would leave me with 35 thousand. Which I know obviously sounds better but if they bought it to invest then I'm wondering if it would be best to offer to help finish up the project and split the profits, but before I even allow those words to come out of my mouth Im trying to see how logical does that sound.

So here is the scenario: I was doing my driving for dollars in a pretty good neighborhood close to downtown in appleton. When I came across a completely stripped house it has a deck in the back and on zillow it was discribed as a 4 bedroom 1 bath house and was built in the late 1800s . I checked online and seen it was last sold last feb for 45000. Now on this particular day it had just snowed outside and someone had been over to shovel the snow. Which leads me to believe the owners are still highly involved. It looks like they started taking it down and realized they were way over there heads. So this is what Im thinking the neighborhood value is on the lower hundreds side( alot of older homes in this specific area most properties are rented out). So I could either offer to buy it for them 35000 minus the 32000 they owe in taxes. Or I could offer to let them in on a deal since I assume thats what there attentions were anyway. 0r I could offer the funds for the repair and we split the profit. The only problem with that is its obviously a huge project complete renovation and Im pretty new to investing. Which brings me to my other thought which was to bring on a experienced investor but still hold my stake by supplying the funds. Please let me know what you think. 

Thank you so much for your response. I figure if I get my investing business off the ground then I can double back and get my real estate license. I was told there is a lot of requirements as far as a realtor job goes and I don't want to be trying to get 2 separate business off the ground at once. I came from a completely different side of the work force which was health care, so everything a literal 360.Where do you go for your list sourcing?

What are your search criteria for Equifax

Thanks for your reply. Do you know where wholesalers usually get there contracts from?

I am new to the investing scene and I'm running into the same problem no matter where I look or maybe I'm not looking at the right things. I don't understand how do I come up with the arv without using MLS and be confident in those numbers. I have used realtor and Zillow which by the way leaves me more confused then I was before I started. Does anyone have suggestions, please and thank you.