All Forum Posts by: Wendell Butler

@Michael Noto That's pretty cool, so that could at least get me to close and get the deal faster rather than having someone swoop under me and take it that doesn't care about the tenants, but still allow me to not restart the whole process again. 

Was it easy to do if the seller cooperated? This seller seems very cooperative. 

@Nathan Gesner Yeah that's what I was thinking in my head common sense wise, but I could not find anything online regarding it. Appreciate your response! 

This seller wants to sell because of the tenants issues, so I think the best approach is have the evictions that are almost done be complete, then close, and make a contingency with that.

Bump

Hello everyone!

I have a couple questions regarding purchasing a property while some of the current tenants are in the process of being evicted. This is a property in Connecticut, just to specify the state, but I was wondering how this transfers over to the new owner?

Say I purchased the property when an eviction is going on, would it immediately restart now that I am the owner and I would have to restart the process? Or does the prior owner finish the case through court regarding it? Can he close with a current eviction occurring?

Please let me know what would happen and what avenues you would take in this situation. Would you take over the tenants evictions for a deal and start evicting yourself or make the old owner finish them? Kind of a weird predicament, but I feel I will run into this again!

If anyone has experience regarding this let me know!

Hello everyone!

I remember coming across a recommendation for a website on here where I could search up and filter to specific properties with % mortgage paid off (LTV), multifamilies, age of owners etc. Anyone have any idea what that site is that I am thinking of?

I am looking to start mailing out to specific areas/owners that may be more interested in my offers, but trying to simplify it as much as possible. The site was awesome when I was on it a few months ago, but I forgot to save it... silly me.

Let me know, appreciate it!!

Hello!

I acquired a multifamily property that I rehabbed and I am now house hacking. It is on a double lot and now I am in the process of subdividing the lot to be able to build another duplex right next to my current duplex. Does anyone have experience doing something like this? What is the timeline/cost of everything from surveying/planning/permits/hearings etc.? I live in Worcester, MA so it may be more expensive than other places, but I just want an idea if anyone has experience.

Also if anyone has experience with construction loans as well I would love to hear about that! I currently am using a VA loan for my property I live at, but I am looking to possibly refinance into a conventional loan, then use a VA construction loan to build the home next door and move into it.

Thank you!

@Jose Betancourt if that’s at the hangover pub I’ll be presenting there! So I’ll see you there!

@Brian J Allen Is an excellent realtor in the Worcester area!

@Niyi Oyeniyi Our team over at Envoy has experience doing these loans as well. If you have questions reach out to me anytime!

Hey everyone!

My name is Wendell and I am 26 years old. Just purchased my first multifamily property in Worcester, MA and I am currently doing a good amount of rehab work to it. Going to move in early June and house hack it while I start investing in other opportunities. I am interested in doing some BRRRR with single family as well as continue investing in multifamily. My goal is to get into commercial eventually and keep on growing. I am also a newly license Loan Officer. Interested to meet you all and network!