Where are you Looking? (by Ray-N-Pa [PA]) Feb 23, 2021 3:02 PM|
Where are you Looking? (by NE [PA]) Feb 23, 2021 3:09 PM
Where are you Looking? (by RentsDue [MA]) Feb 23, 2021 3:26 PM
Where are you Looking? (by Ken [NY]) Feb 23, 2021 4:09 PM
Where are you Looking? (by WMh [NC]) Feb 23, 2021 4:14 PM
Where are you Looking? (by Dave [MO]) Feb 23, 2021 4:42 PM
Where are you Looking? (by GKARL [PA]) Feb 23, 2021 5:44 PM
Where are you Looking? (by 6x6 [TN]) Feb 23, 2021 7:26 PM
Where are you Looking? (by Deanna [TX]) Feb 23, 2021 7:27 PM
Where are you Looking? (by gevans [SC]) Feb 24, 2021 7:00 AM
Where are you Looking? (by BRAD 20,000 [IN]) Feb 26, 2021 1:07 AM
Click here to reply to this discussion.
Click Here to send this discussion to a friend
Where are you Looking? (by Ray-N-Pa [PA]) Posted on: Feb 23, 2021 3:02 PM
Where are you looking for your next deal at?
NE mentioned that he was hoping to pick up a place so he has a project to work on. I can appreciate that thought process. I am not so much concerned about the geographic area that anyone is looking at. A spot on a map is a spot on the map.
I am interested in learning what niche fields you are looking for in finding your next slice of the American Dream .
As for me:
In December I got the deed for a house off the judicial auction. I also gained one deadweight hold over - the BF of the previous owner. Still working with an attorney to get rid of freeloader
I also have a couple of parcels of land that I am buying from the tax sale list where my offer was challenged - so there will be a two party auction in March for those two lots.
I have an offer on an estate for house. The basement is wet now even with the ground being frozen so I am less than excited about this one. Spring will probably be rather sloppy in that basement. I am thinking french drains can dry things out, but getting the price right in this market is a challenge
There is a mixed use building that might have been an old gas station back 70-90 years back. I am still trying to answers back from the state on that place, but it comes with five apartments too. This would be a nice replacement for a 1031 I have going on. The big question - what to do in a small village with a former small mom and pop grocery store.
I have been using my own direct mail list for specific target groups. It has been better than my bandit signs since COVID
What do you have going on?
Where are you Looking? (by NE [PA]) Posted on: Feb 23, 2021 3:09 PM
Ray, I have nothing going on construction-wise. It drives me nuts because I like to see results.
Home schooling the kids and buying some stocks is all I'm working on at the moment.
I am wondering where to put my investment energy. I just cannot see a forward path in RE at the moment. --70.44.xxx.xx
Where are you Looking? (by RentsDue [MA]) Posted on: Feb 23, 2021 3:26 PM
New build is on hold until spring due to material prices. --174.242.xxx.xxx
Where are you Looking? (by Ken [NY]) Posted on: Feb 23, 2021 4:09 PM
just closed on a single family,as soon as former owner leaves i will get it cleaned out and listed without doing anything to it,i got that one from my mailing list for unpaid taxes about to be foreclosed.Closing another one next week,got that one from a facebook ad,my broker has 2 people who want to see it at double what i paid for it.I have 3 guys finishing a place that was a referral,hopefully list it in a few weeks and get a quick sale.I have never been so slow with no foreclosure auctions happening right now. I am still doing mailings and will probably get another place soon from mailings.I dont do any of the physical work so hopefully i can start getting calls from sellers soon when the weather breaks otherwise when i can i will start fishing and canoeing regularly once the ice goes out --72.231.xxx.xxx
Where are you Looking? (by WMh [NC]) Posted on: Feb 23, 2021 4:14 PM
We are holding off on buying and he is working on the two ADUs we have in our back pocket. Also he is teaching himself to build kitchen cabinets (good ones) for our son's kitchen remodel. Mastering the door style DIL wants is tough so we'll see.
I took over the Admin of a FB group for people looking for local housing. Must be crazy. But I'm kicking off the ignorant and profanity-laden jerks and warning people about being civil and polite and receiving some thanks for that, so thanks to you, Jeffrey, for teaching me about leading a group. Not there yet but I *do* have a head start on the poor woman who was leading it. --50.82.xxx.xxx
Where are you Looking? (by Dave [MO]) Posted on: Feb 23, 2021 4:42 PM
Closed on one today, off market deal. A handyman I know tossed the deal my way and he will get a finders fee.
Tuff, RE market right now, if your buying. The selling is the easy part now. --173.47.xxx.xx
Where are you Looking? (by GKARL [PA]) Posted on: Feb 23, 2021 5:44 PM
I'm working on my seven unit conversion. This is the place where I'm converting office space into four apartments. Doing the framing now and hope to go in with electrical and plumbing within the month. This is a good sized project and won't finish until late spring/early summer --209.122.xx.xxx
Where are you Looking? (by 6x6 [TN]) Posted on: Feb 23, 2021 7:26 PM
Learning mode. --73.120.xx.xxx
Where are you Looking? (by Deanna [TX]) Posted on: Feb 23, 2021 7:27 PM
I've got enough projects in my pockets that will keep me busy for the next three or four years.
One is a house that we picked up back in 2016, and has been working, but we needed to tear out the ceilings throughout. They had originally been put up with finishing nails, and after 70 years, the ceilings were starting to rethink things. We got it empty in October, and I'd thought end-of-February would be a reasonable goal, but there have been some delays with the electrician and the handyguy, so it's not progressing as swiftly as I'd like.
One is a 2/1 we picked up at tax sale in the fall of 2019. We got two neighboring properties at the same time; we'd thought this one would be the easy one, or we could possibly work on them in tandem, but then we discovered some major issues. Its neighbor started working back in April of 2020, and this one should be wrapped up summer of 2021.
One is a 2/1 on the edge of town that we picked up from a burned-out landlord back in 2016. Originally, her husband, who had a great attachment to this particular house, was going to personally spearhead the renovation, and we'd supply the materials. But he had heart trouble, so that plan fell through. Everything else I got from them was pretty much a matter of build-a-new-house-inside-the-old-house, so I kept kicking this one down the road in favor of easier projects. Then a violent felon decided it would be the perfect hiding place... so oops, let's prioritize that a smidge more. :) I've got windows on order for it, which should arrive in March, and have been on the roofers' schedule since before Christmas... still waiting... winter weather throughout Jan and Feb has shot their schedule to pieces. I hope to get that one finished by Thanksgiving, but it should see some major forward momentum after Spring Break.
I picked up a duplex, with an ADU in the back yard, this past fall. The former owner's six-month right of redemption expires in April, so in theory, I should be able to safely start serious work on it in May, except my plate is already full. By the time all's said and done, I hope to convert the backyard ADU into a duplex as well, and have four more 1/1's at work. That's on the schedule after I get the first three taken care of. It's not difficult, but it's everything x4, so we'll see how my budget stretches to handle it, and if I can do all four in tandem, or if it doesn't work out like that.
After that, I've got my big old Victorian that I bought for $4k in a fit of pique back in 2017. I've been improving bits and pieces of the roof and structural issues in the meantime, but the hardest (most expensive and complicated) part is whipping the exterior into shape. That will easily take 6-8 months if I focus, and much longer if I try to juggle something else along with it.
After that, I've got the bottom of the barrel--- a house which ought to really be a tear-down, except two different maps seem to have it zoned two different ways. It was getting in the way of a little old lady's Medicaid, so we bought it from her for $500, and probably overpaid... :P One big problem is that her husband had been a plumber, and her kids were all would-be handymen, and the house looks like it's been renovated by hooligans. (Work done flat-out wrong, what little decent stuff probably needs to be torn out due to having been done out of order, etc, etc, etc.)
If I ever get to that one, it really is TEOTWAWKI.
In the meantime, I'm also looking at picking up a 3/1 house with a 1/1 garage apartment in the backyard (four-way inheritance) (discussions have been in the works since November, but seems to finally have the last out-of-town heir on board) and am looking at a few places at the upcoming tax sale. (One has been pulled; I'm hoping the two others get pulled, too, so I can congratulate myself on my willpower.)
So, we're fortunate in that we can acquire projects for the project queue so that there's never any question of what comes next. Because in addition to all the growth--- there's still the necessity of solidifying and maintaining that which we already possess. --137.118.xx.xxx
Where are you Looking? (by gevans [SC]) Posted on: Feb 24, 2021 7:00 AM
Property prices are just insane. Almost NOTHING listed on MLS, it's the strongest seller's market I have ever seen.
We typically look for fixers, that junkyard dog in a neighborhood of pedigreed pups. LOL Good bones, bad everything else. We have made plenty in sweat equity over the years.
Most of our stable has come from foreclosures, HUD, and auctions. A few from private homeowners we found on our own. Only two from the MLS.
We have only purchased ONE ready to rent house, and we got it for half what it was worth. Rented it in two days, that was sweet! --69.80.xx.xx
Where are you Looking? (by BRAD 20,000 [IN]) Posted on: Feb 26, 2021 1:07 AM
I am only buying inside my Roth. I donít need any more rents that are taxed normally. My goal is to replace my regular rent income with tax free income.
I can pay more than my usual low prices because NO INCOME TAXES. Plus those are keepers.
SUBJECT TO has been the easiest growth. I donít want the debt but the larger cash flow means quicker payoffs.
Click Here to send this discussion to a friend
Report discussion to Webmaster