If you don't mind fixing up rough properties, we have found good opportunities in southern Virginia, we do a lot of renovate and hold in the Martinsville area

SITUATION: SOLD the home under a LEASE OPTION (or it could be even a WRAP AROUND Mortgage (or Deed of Trust) type of sale.They PAY US (on our LEASE or the Wrap Around Note) and We pay the underlying 1st lien lender (serviced by Shellpoint)PROBLEM:The Value of the property has gone up a lot.

The deal fell apart, and not only did we lose the $5,000 assignment fee, but we also lost the $5,000 we had loaned to the sellers, who admitted they knew about the second loan but never disclosed it to us.When we asked the sellers to return the money, they told us it was already spent on Christmas presents and moving expenses, with no intention of repaying us.This experience was a painful wake-up call.

Here are the numbers:Purchase - $70KRehab  - $50KARV - $180KCash out refinance - will get 100% of my investment back or pocket up to $15KProblem - I am estimating that my monthly cash flow will be about $100 a month.

There are some platforms where you will need a channel manager those costs vary by who end up choosing.

Look me up on google and let’s schedule a time to chat more about it.

Preamble:  We don't announce that we are the owners, we don't hide it, but it never comes up.  

Always looking to partner up but you have to be able to get into the water with me.

Hi there from another Pittsburgher,Yes you'll want to get an appraisal done now, specifically so you can figure out what your stepped up basis is and then that way your brothers and you know you all got a fair deal.Second, take a good look at what you need to do to rent it versus what you would like to do. 

@James McGovern - when it’s clear they aren’t or can’t pay then our motivation is to get them out as soon as possible to get the unit rented to a better paying tenant.We serve them with a NTQ.We offer them cash for keys (the equivalent of our attorney’s cost, which is about $1500) on a tight window of time.We explain how bad having an eviction on their record is for them.Still, only about 30% take us up on it often citing that $1500 isn’t enough moving money.