All Forum Posts by: Kelsey Bunker

@Anson Young its an unusual situation, we are at the point where we can file for the deed but because it's been abandoned so long, there are tons of liens from the city (yard, trash, broken windows) and we have had a hard time getting funded because that title will take 6-12 months to come through. We need a minimum of 20k to settle the current liens and get the property to a point where it will stop getting fined. I think I can negotiate some of these liens down but those convos won't start until the deed is filed for.

@Markeilsha R. I've learned quite a bit about these "Zombie" homes while researching this one! Every state is Very different and they don't seem to make it easy.

@Cameron Sharp I like the way you think. Can I ask you another question? We were initially thinking of a 70/30 split (us/them) They will be bringing about 80% of the funds needed for rehab and are only interested in funding if they can do some of the work, thus the split. Do you think the return on investment plays any part? Most rehabs won't yield anywhere near the return we are offering or is that non factor... We want it to be enticing because 100% of nothing is nothing so any part of this deal will be a great start for us.

First off, Thank you all for the great tips and warm welcome!

@Anson Young I'd love to come to the meet-ups! I have a conflict this month with one of my community events but I will keep an eye out for the next one!

@Theresa W. Local key words are set, Thanks! Looks like we have the same idea of fun :) I thought I may be all alone in that until now!

@Joseph Konrad So far, so good on friendliness! My 1st question hasn't gotten many replies, any suggestions? (Better keywords, More/Less Detail, Catchier subject)

@Paul Timmins Looks like I've got tons of great things to read up on (and listen to), Thanks!

@Jeremy Baker I'm very excited, I love hearing success stories as well as the lessons learned!

@Micki M. I too have that thought, for me Real Estate investing comes much more naturally than the stock market, maybe I just feel more comfortable in this realm :)

@Dmitriy Fomichenko Thank you for the recommendations, Now I can properly thank everyone.

Hi, I'm Kelsey and I was born and raised in Denver, Colorado; currently residing in Lakewood. I became interested in Real Estate with the purchase of my first home 10 years ago but was too young and scared to jump in then. Fast forward to now, My husband and I have been in Real Estate for almost 2 years and we love it. BP comes up quite often in my searches so I figured this would be a great place to help us in expanding ourselves from associate brokers to flippers & possibly property management. Looking forward to being a part of the Bigger Pockets community!

My husband and I have been in Real Estate for almost 2 years now. We would like to get started in flipping/rentals but we don't have a ton of money for down payments/renovations. We think we've found a great way to start but the odd situation has quite a few hurdles.

There is a property across from my mother's house that has been abandoned for 10ish years. Basically the home has no mortgage and the owner on title passed away 20+ years ago. There are lots of Liens on the property, upwards of 20k and the home does need a lot of work. That being said, we have a very strong market in Colorado so the ARV will be 150k-170k. Best case scenario would be finding a lender but we do all of the work. We would repay the loan as soon as the title becomes marketable.

We can't get a traditional loan because there is no title to loan against and same goes for "Hard Money Loans". We've been told by the treasury department that we can file for the treasurer's deed once the rest of the Tax liens are paid off as we've attempted to purchase the senior tax holders lien for years with no response.

We have spoken with a current client who is a small time flipper that is considering partnering with us (Lending 50k and splitting work). What splits would be fair for this situation considering the high profits?

Thanks in advance for any and all advice!