All Forum Posts by: VAUGHN BLACK

@Ron S. Thanks for your feed back.  Shes not elderly  she in her early 50's and she lost her husband over a year ago. I'm a family therapist so I've been very sensitive about the situation and asked her to  have her adult daughter to join the conversation which she did. I've been  talking to the family about this situation over the last 7-8 months. I've suggested several other options all of which the family  declined like reaching out to family/ friends for support, refinancing  (existing loans interest rate is 2.6% with a payment of $554); cleaning it out and listing it with an agent; short sale. The family seems to just want to wash there hands of the property. I did find out that there are some other issues going on with the home like a crack in the foundation and liens on the home.

  Thanks for feedback. What would be a good margin?

Hi BP! I've been reading and watching investing pod cast on and off over the last couple of years and finally I'm ready to take some action. 

I found a home owner that is currently in the foreclosure process in PA. Her husband passed away just over a year ago and the mortgage had not been paid since just before his passing. She moved out of the home but all of her husbands things were left behind. She has no means of making payments and was advised by her attorney to just let the back take the property. Please let me know if this sounds like a good deal.

Is this a good structure.

- ARV is 137k - Needs $15k in repairs (the home was built in 1975 and had not been updated)

- the home owner owes about $90k after added fees as reflected in a notice she received earlier this week.

- Mortgage - Payments were $560 in the past.

I would like to take the property over using Sub-2 then possibly  update then us as a rental or sell as is to a whole seller. 

I offered her her $5K to part with property

Is this the correct strategy to use? Any suggestions would be appreciated.

Thanks in advance for your time and support!

Thanks great information 

@Inesa Tomaszewski @Corey Hostetler @Gerg H

Thank you all for your help. My agent wasn't the best help and seemed very confused. I had to set up all of the utilities and reschedule to have the home inspector and appraiser come back out.

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Hello BP,

I recently found what I hope to be my starter property. This is a HUD home in PA;is it normal for the buyer to have to pay an turn on utilizes for the home inspection? Also is it normal for the seller/bank not to allow me to turn on the water? Thank you for your time.

Good Job, I've been in this house growing up. Good work.

Hello Jonathan, 

I've been reading at listening to bigger pocket for about the same as you. I just made an offer on my first property in Lebanon. I'm  looking for duplexes, triplexes, between Lebanon and Harrisburg. Good luck. 

Very helpful I'm in the same boat; trying to crunch numbers.