OfflineI found a property in a nother state That the owners are wanting to sell They had been doing a rehab and ran out of money Is there away to find out what they owe with out going threw the property owner or LA.
Bill
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FOUND A PROPERTY
Posted on: Tue, 08/18/2009 - 01:08
FOUND A PROPERTY
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- by cathunter10@tularosa.net
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Ok guys and gales I called the court house there is nothing recorded,so If I make a offer do I put in a contingense Or just wait for title commpany To take care of any problems.
Bill
If the price makes sense and its a positive cash flow I would go ahead and let the title co make sure it is clean. That is what you pay them for.
You are doing a great job! Finding great deals is exciting! I want you to really find out about the area itself before you are to invest any money into a deal. First we want to look for buyers in the area. Do some test marketing to find out if there are buyers for this type of property, and the price range. You might find out that people are only interested in renting.
If this is the case, are you prepared to rent this home out to individuals and does it cashflow? These are a few things that you should take into consideration to determine if something is a "good buy".
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Sounds like it could be a good deal. You just want to ensure you complete your due diligence work up until the day of closing the sale. If contractors have done work on the property and have not received payment from the current owner they could be in the process of getting a lien on the property. Just something to consider. I hope the deal works out for you, keep us posted. Believe and Achieve!
- Joe
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Hello,
After I read the success stories in DG YTTREP's new book, I was motivated again to act, especially with Stacy and Joe Jurek's Deal Recipe #4. The different is the REO I am looking at has an offer on the table already and I don't have credit or money to go through conventional financing. I want to hold property for rental, especially I already have renters firmed for this area. The property may have great value in rezoning possibility. Other lot on the same street is zoned commercial but because it is in a different county line that is desirable.
Do you know anyone who can cash purchase this property than will agreed to owner finance the purchased price at fixed rate for 3 years with 40 years term? This is almost like having a rental but the profit is in earning interest plus will receive $2000 when I refinance?
Or if anyone have any suggestions I would greatly appreciated.
List: $174,900
This is my second time on the website. Also this is my second attempt at buying an investment property, previous one was a loss 5 years ago. I am stir to action due to DG encouragements and everyone on this website and stories in the books.
Time sensitive case. Other offer been since Fri.Mar.19,2010
Thank you.
coco d.