Category Archives: Commercial Real Estate

In-a-Hurry Loan to Cover the Gap

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There are several reasons why a fix-n-flip investor might want to secure a fast loan to cover a gap. A gap loan, as the name implies, is a loan that bridges a span of time. It helps you gain control of a property quickly even if you are still scrambling to get all your paperwork done for a full rehabilitation loan.

A Buyer in a Hurry
At some time or other, you might face a seller in a hurry. One situation that puts a seller in a hurry is foreclosure. Many property owners in this situation are in denial so they wait until the last week or so, or even days, before the foreclosure sale to act on saving their credit. To save their credit, they must pay the bank all they owe on the mortgage right now. The house might actually be worth much more than what they owe if they have been paying on the loan a long time or put a large payment down on it. But, a foreclosure on their record will ruin their credit. So, for them, it is better to sell at a discount and survive to buy another house another day.

In this scenario, an owner in foreclosure has agreed to sell the property to you at a steep discount, but they need to close the deal quickly. You, the investor, want to buy this property and you make an offer. However, the competition is extremely stiff, and another investor is sitting in the wings waiting to obtain the property. Your offer locks up control of the property temporarily. You need to move quickly to secure a loan. Normally the loan process takes a minimum of 7 working days and typically takes 10-15 working days.

A Nonrefundable Deposit

Another reason you might need funding in a hurry is that you have stumbled upon a wholesale purchase with a tight deadline to close, perhaps 2 to 5 days. The property is ideal for your purposes and you want to make an offer. However, if you don’t get the deal closed by the deadline, you will lose the nonrefundable deposit you are required to put down and control of the property you are seeking.

 

mind_the_gap

Getting Control of the Property

Here is where obtaining a gap loan is useful. A gap loan allows you to purchase the property as is while you are in the process of obtaining a rehab loan. The gap loan can be secured in 2 to 3 days typically. Your strategy is to obtain control of the property through this gap loan, begin paperwork to refinance the loan immediately and eventually complete the rehab and offer the property for sale.

REI Capital Resources has funds available for fix-n-flip loans with terms up to 6 to 9 months with a minimum of 3 months.

Fix-n-Flip Option 2

E-mail or call for more information on minimum and maximum loan amounts, interest rates, terms, and fees for specific project. I can help you with first liens only and these loans are limited to the Austin, DFW, Houston, and San Antonio Metro areas.

Pat St.Cin

Patrick@reicapital.cash

512-213-2271

Austin, Texas

Out-of-Doors Real Estate Investing

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By 2024, the US Bureau of Labor Statistics employment projections program projects that there will be over 15,000,000 outdoor jobs in leisure and hospitality and almost 7,000 jobs in construction by the same year.

This statistic does not include the self-employed real estate investor, but it does tell us that there will continue to be a market for leisure and hospitality in the coming years. By that I mean vacation rentals and resort investments. If you crave fresh air, sunshine, and open spaces? Then the best thing to do is to craft your own job outdoors using your skills in investing, real estate, marketing, and hospitality.

Logically, the first outdoor work that comes to mind is the construction work required when you buy a property to fix-n-flip or fix-n-rent. You think of the remodeling, painting, deck building, landscaping, and the lifting, digging, and tugging that is required.

However, as a real estate investor, you can be a passive investor or an active investor, as active as you want to be. You can buy and operate a resort as an investment and as an occupation, one where you have rooms or cabins to rent out after they are remodeled, providing yourself with social opportunities and occasions to play out of doors.

Resort Ownership on the Water
Resort ownership on the ocean or a lake would give you opportunities rent property out for days or weeks and to spend time outdoors with your guests:
take your guest out on the water in a boat as a fishing guide
take your guests on a picture-taking tour around the lake shore
visit with guests around the community fire pit telling stories in the evening
rent out canoes, bikes, and games
teach guests to swim, kayak, water ski, or snorkel
be a life guard at your own pool
keep the grounds clean and mowed
provide your own landscape service.

Resort Ownership in the Woods
Resort ownership in the woods comes with the opportunity to rent cabins or rooms by the day or the week with time to spend outdoors with your guests:
guide trips for your guests fishing on nearby lakes or streams
lead float trips
lead hikes
teach conservation or outdoor cooking or snow skiing
prune trees
maintain trails
repair cabins

Dude Ranch or Hunting Resort Ownership
Dude ranch or hunting resort ownership would provide a different set of opportunities for the combination of vacation rental ownership and outdoor work:
take care of the animals on the ranch, horses and cows
breeding animals for sale or to increase your own herd
teach horseback riding,
guiding hunts or fishing trips
guiding horseback trips
building blinds and fences
build ponds
restore habitat in streams or forests
socialize with guests
being the grill master for guests’ meals.

An outdoor career has its pros and cons, among the pros are lots of fresh air and exercise that will keep you in shape. Among the cons are weather, schedules, and dangers. Many outdoor and leisure and hospitality workers are on the job early and work weekends and holidays. They may work all summer and be off most of the winter or work all winter and be off in the summer. You will most likely have to perform your tasks in heat, cold, rain, and wind. And, many outdoor jobs are physically demanding, requiring lifting, digging, and bending.

close up photo of man cooking meat

I am still focused on funding your success and I have more tools to work with. ILS built its reputation on finding private funding for investors for quick turn purchases and difficult situations. This is still true for REI Capital Resources.

Contact me at
Patrick@REICapital.cash
512-213-2271

Commercial Real Estate: Warehouses & Fulfillment

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Malls on our Minds

Although the malls built in the 1970s are no longer thriving, they still have locations that can be reformed for commercial use. According to a Wall Street Journal video on May 6, 2019, Amazon is buying up malls because they are located in good commercial locations with access to massive spaces for building and parking, population centers for labor, and highways for shipping. In addition, the infrastructure is already in place. Amazon has bought Randall Park Mall in Cleveland, OH and Euclid Mall in Euclid, OH for fulfillment centers.

Although online purchasing is taking a toll on brick and mortar establishments and causing mall closures, many creative uses for the buildings and parking have been devised: data centers, microlofts (in providence Rhode Island), office space, film studios, charter schools, resorts, medical centers, and self-storage units.

With online purchasing comes the need for warehouses. Take a lesson from Amazon and when you are looking at commercial real estate to purchase, fix and flip or fix and rent, look for these 4 features of the location:

  1. Big space, massive space
  2. Residential areas nearby for the people who will work in the building
  3. Nearby highways with good access on and off
  4. Infrastructure already in place.

Let me know if you have found any deals this month that you know you can turn around and resell with enthusiasm. I hope that I can be of help to you this month.

I can be reached at
Patrick@REICapital.cash
512-213-2271
Austin, Texas

References

WSJ.com, commercial real estate, video.

Mall image: Alina Zienowicz Ala z [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0/)%5D

Old Malls: Transformed in Texas

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While studying what is being done with abandoned malls around the country, I ran into the April 2, article in Dallas News by Steve Brown about plans for the struggling, not dead, Collin Creek Mall in Plano, along Highway 75. The mall is being redeveloped into a mixed-use village centered around a crystal lagoon.  The plans support dense property usage in the area with office space, multi-family apartments, single-family homes, senior-living units, a hotel, restaurants, retail space, a park and hiking trails with all the parking underground sharing the location where the mall is now. The developer, Centurion American, will begin construction in July 2019. Entertainment will be a big component of the project.


Crystal Lagoon & Real Estate Strategy

Wondering what a crystal lagoon is, I visited their website, crystal-lagoons.com, and found that the crystal lagoon is a water amenity that will increase the value of the surrounding real estate and allow higher rents to be charged for office space, hotels, and apartments because it actually brings the beach or water-front to the neighborhood, no matter where the neighborhood is in the world. Although it was developed first for private use, the public access lagoon model allows communities to be developed around the water feature. According to crystal-lagoons.com, the technology claims to make an unviable project viable. Remaking the land where old malls are located, in the middle of suburbs, into new communities for a long time has been a potentially unviable project. It is good to see that this concept can reform and reuse these massive abandoned spaces in our cities.

Sustainability

The crystal lagoons advertise that they are sustainable, using less chemicals, less energy than conventional pool filtration systems, and less water than parks and golf course, yet providing water as crystalline as swimming pools and tropical lagoons. They use any type of water, salt, fresh, or brackish and control evaporation with a film cover system and by capturing rainwater that falls.

Safe, Smooth, and Clean Water

Even along the coast of an ocean, the crystal lagoon concept offers a safe and controlled environment for water sports and beach activities.

Master-Planned Communities around Lagoons

Here in Texas, there are a couple of communities that include a crystal lagoon as part of their planned amenities. Like the Collins Creek Mall replacement project, these are master-planned communities where entertainment, shopping, and employment can be found within minutes of home.

One of these communities is Windsong Ranch in Prosper, Texas.  Another community, Lago Mar, is a 2,033-acre master planned community located along Interstate 45 in Texas City. The 12-acre Lago Mar crystal lagoon is opening in 2020. The entertainment district features multiple beaches, a floating obstacle course, a swim bar, a 10,000-square-foot beach club, and restaurants on the boardwalk. 

Balmoral in Houston is a 750-acre new home community in the West Lake area of Houston that offers Texas’ first crystal clear lagoon surrounded by glistening white sand beaches. The lagoon encompassed 2 acres of sparkling blue water that is 8 feet at its deepest and 3 feet in the swimming areas.

As you are considering investing in real estate, think about amenities like these. Are there any crystal lagoons, walking trails, fishing lakes, or theatres, near the property you are considering. These entertainment amenities affect the value of property and the amount of rent you can charge.

Focused on Funding Your Success

I can be reached at
Patrick@REICapital.cash
512-213-2271
Austin, Texas

Image credit: Azwar Thaufeeq [CC BY 3.0 (https://creativecommons.org/licenses/by/3.0)%5D

Life Science Space Rentals

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Austin

Texas has not been on the list of the top life Science research hubs, but it could be according to an article by Chris Davis of KXAN, a post on the Austincc.edu website.

Central Texas has a need and it is something commercail real estate investors can help with. Central Texas needs for wet lab space for a growing life science industry. One example of the possibilities is the Austin Community College’s (ACC’s), Austin BioScience Incubator (ABI), a State-of-the-Art facility that leases space and equipment to start-up life science companies. The ABI is booming with 16 companies leasing space. Three companies have moved on, outgrown the facility.

Science/Business Incubator

This science business incubator was born out of an approximate 9,500 sf renovation of the iconic Highland Mall in Central Austin, TX. According to its website, the facility features 4,000 sf of wet labs, two ISO I clean rooms, open workspace, conference space, and support offices. Member companies have access to core laboratories and instrumentation.

Mission

The ACC Bioscience Incubator aims to expand on previous successes by establishing a permanent wet lab facility and business incubator to accelerate Central Texas’ biotechnology economy while training a skilled workforce

Austin Community College

The Austin Area Life Science economy was spurred to new growth by the University of Texas at Austin’s Dell Medical School. Austin is now home to more than 240 bioscience companies, according to the Austin Chamber of Commerce, employing 15, 000 workers.

Growing Industry

The life science business is not likely to go anywhere but up in the future. Life science industries involve everything about life including health care for an aging population and DNA research, as well as pharmaceutical research, tissue fabrication, sanitation and food safety, genetics for preventing disease, and nanotechnology for medical devices, computer modeling, and imaging technologies.  This industry has been adding jobs since 2000, 5 times faster than the US economy, according to a report by Cushman and Wakefield published in January 2019.

Adaptable Space

This is an interesting type of real estate to look at for an investment. The key factors in investing in commercial real estate to renovate and rent to life science businesses is that the space needs to have both office space and wet lab space. It needs to be efficient and adaptable space for housing imaging technologies, clean rooms, collaboration, and storage, preferably near universities and cultural amenities to attract and retain scientific talent.

white baby mouse

Photo by Pixabay on Pexels.com

REI Capital Resources is a funding source for SFR Fix-n-Flip, Fix-to-Rent, and Refinance projects as well as larger commercial projects such as office buildings, 5-40 door multi-family buildings, and many others. These programs vary wide and far throughout the gamut of lending. Call or e-mail for more information.

Patrick St.Cin
W – 512-213-2271
Patrick@REICapital.cash
Info@REICapital.cash

References

Life Sciences: Limited Supply, Increasing Demand Driving Increased Real Estate Costs, 1/31;2019, ww.cushmanwakefield.com/en/news/2019/01/life-sciences-report

Life Science Space Continues to Be in High Demand with Low Vacancies and Rising Rents, National Real Estate Investor, Patricia Kirk, April 22, 2019.

Where scientific breakthroughs happen: Three trends shaping labs of the future JLL , Mike Romer, Chicago, February 15, 2018

“Focused on Funding Your Success”

A Family of Land Websites to Admire

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I recently stumbled onto a family of fascinating websites for those of us who love land.   Whether you are interested in a vacation rental or garlic farming, solar farming or raising timber, hunting quail, or building a deer hunting preserve, this family of sites has much to offer those with land on their minds.

agriculture barn clouds cloudy

The first one I discovered was landflip.com because I was thinking about investing in vacant or rural land.  Land Flip lists the best vacant and rural land available.  So, if you  are looking for hunting land with a cabin, 100 acres in Sierra Blanca, or a poultry farm in Arkansas.  This is the site to visit.  And it is a beautiful site with property descriptions and lots of gorgeous land photos in its galleries.

The sibling in the family is lotflip.com.  Here is the site to go to if you are looking for commercial sites and land. Some of the same properties appeared here as on Landflip.com, like the poultry farm and the land in Sierra Blanca, but they were joined by industrial sites in New Jersey and housing sites in Northern Arizona.

The middle child in the family is farmflip.com, a site that features just what it promises, farms, but with much variety. Here you can find that horse farm in Wyoming, hobby farms, a working cattle ranch in Sabine County Texas, and timber tracts in Florida.

Auctionflip.com is the next site, and it features upcoming auctions, including galleries showcasing fenced land in Kansas, residential development land for auction in Indiana, a home on 15 acres in Platte County, Missouri, and a log home and bed & breakfast lodge with 52+ acres in Houston being auctions on April 27th at 10 am. The property includes a barn, a shop, horse stalls, feed room, chicken coop, dog kennels, and 2 ponds. This could be an interesting investment for the right person.

If your dream involves commerce, hard work, and land, and if you are looking for a piece of urban or rural land to perform on, the not-so-little brother in the family of websites is the one to visit, commercialflip.com.  I think this site had my favorite unique commercial opportunity, a trading post with 34 cabins in Gunnison County, Colorado, right in the heart of the Rocky Mountains. As a kid, I always dreamed of my family owning a trading post of bar in the mountains.  This would have been the place.  The site also featured a gallery of other commercial opportunities, like a Lake Michigan vacation home, a river ranch with cabins in Missouri,  and a family restaurant and motel in Michigan.

Finally, the daddy and the mommy site of the family, as far as I am concerned, where you can learn all about land is landthink.com This is where the blogs, articles, facts, and opinions live.  Here you find information to use and admire about topics like

  • the unique gourmet crops that will make money for a farm,
  • when to get into debt for land and when not to,
  • how to get a timber appraisal,
  • how to organize a community garden, and
  • how to clear land.

I am not sure but this might be my last post. I am off to plant garlic and willow trees.

Not really. But, I do recommend studying these websites for information and possible deals for your next investment, maybe a vacation rental.

Give me a call or send an e-mail and share with me your plans and needs, and I’ll see what lending solution I can generate for you.

Patrick St.Cin
W – 512-213-2271
Patrick@REICapital.cash
Info@REICapital.cash

 

 

 

 

Commercial Real Estate

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Most of our fix-n-flip projects have involved residential real estate, but commercial property can also be bought and renovated as an investment with our lending tools.

The commercial market requires some scrutiny to find the best, less risky, options for your investment.

Commercial real estate is property that is used exclusively for business purposes and property that is leased out to provide a workspace rather than living space. Investopedia

According to the “2019 U. S. Commercial Real Estate Market Outlook,” by CBRE, the outlook is good for all four major commercial real estate asset types: office, retail, industrial, and multifamily and three of our Texas towns, Houston, Fort Worth, and Dallas, are on their chart of the Top-10 Markets for Annual Rent Growth over the next 5 years.

On the other hand, JP Morgan is more cautious and expects more modest growth in the commercial real estate market. In their 2019 Commercial Real Estate Outlook by Alfred Brooks, they point out certain areas that are riskier than others and some that still look like good investments.

Together the two investment experts expect 6 situations to influence the market.

  • Online Consumption of All But Food: As more of today’s shoppers move online, traditional brick and mortar real estate stores and malls will be risky investments, except for traditional grocery stores, which have not yet been affected by online competition. JPMorgan
  • Online Goods Need Storage: While trade wars and possible recession affect the value of industrial property, the expansion of e-commerce creates more demand for industrial buildings that can be repurposed to store and distribute goods sold online. JPMorgan
  • More Jobs than Workers: Strong demand for modern and efficient office spaces with lots of amenities, driven by employers in their effort to keep employees in a competitive labor market will keep this market healthy as long as the spaces themselves and lease structures are flexible. CBRE
  • Upscale versus Modest Housing: Upscale multifamily housing has been overbuilt in many markets, but housing shortages still exist in affordable housing in the Class B and Class C units that cater to renters. This shortage of affordable housing makes more modest multifamily housing an attractive investment. JPMorgan & CBRE
  • Preference for Urban Living: Young people continue to live in the city and are willing to trade square footage to avoid a long commute and live where they work and play. Their preference has kept the multifamily housing market healthy. JP Morgan
  • Interest Rates: What can I say about interest rates other than interest rates affect everything, and the Fed looks like they might be raising interest rates and are unlikely to lower them unless there is a financial crisis. This situation makes this a good time to consider buying commercial real estate so you can lock in a lower rate. JP Morgan

REI Capital Resources is a funding source for large commercial projects such as office buildings, 5-40 door multi-family buildings, and many others. These programs vary wide and far throughout the gamut of lending. Call or e-mail for more information.

apartment apartment building architecture building

Photo by Expect Best on Pexels.com

Patrick St.Cin
W – 512-213-2271
Patrick@REICapital.cash
Info@REICapital.cash

 
References
Brooks, Alred R. JP Morgan 2019 Commercial Real Estate Outlook http://www.jpmorgan.com
https://www.jpmorgan.com/commercial-banking/insights/2019-commercial-real-estate-outlook

Chen, James, Investopedia Commercial Real Estate Definition, April 2019. https://www.investopedia.com/terms/c/commercialrealestate.asp

CBRE, 2019 U.S. Real Estate Market Outlook. https://www.cbre.us/research-and-reports

ILS is Now REI Capital Resources

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“Focused on Funding Your Success”

Formerly Investor’s Lending Source. New name, new products, same management

Hard Money Lending

REI Capital Resources is a funding source for SFR Fix-n-Flip, Fix-to-Rent, and Refinance projects as well as larger commercial projects such as office buildings, 5-40 door multi-family buildings, and many others.  These programs vary wide and far throughout the gamut of lending. Call or e-mail for more information.

Long-Term Rental Financing

REI Capital Resources is instrumental in finding conventional non-conforming lenders for investors using their business entities and, also non-entity, personal holdings, as a method to purchase, refinance, and cash-out of rental properties.  These loans are geared toward single-family residence properties with up to 4 doors for a given property.  Portfolio loans are also available. Earn money continually from your rental property. You can get there from here with a fix-to-rent loan.

Short-Term Rental (Vacation or AirBnB) Lending

As the lending industry adapts to the market place, REI Capital Resources is adapting too and is now able to provide funding for the short-term vacation rental market.

You Can Get There From Here

REI Capital Resources built its reputation on finding private funding for investors for quick turn purchases and difficult situations.  This is still true today.

Give me a call or send an e-mail and share with me your plans and needs, and I’ll see what lending solution I can generate for you.

Patrick St.Cin

W – 512-213-2271
Patrick@REICapital.cash

How to Use a Hard Money Loan to Get Your Real Estate Property Ready to Sell

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How Much Money Do You Need?

There are some basic things you need to know before you can get a hard money loan. First, you need to know how much you need to borrow and how much collateral you have. You begin by finding out how much your real property (house or apartment complex) is worth as is.1 Note the words “as is.” You can get this information from a real estate appraiser. Then you ask them to make a second estimate about how much more the property will be worth if obvious repairs are made.

IMG_00003652Next, get a remodeling contractor to give you a bid on the repairs and a plan or time frame the repairs will take. You might want to get several bids and choose the one that looks best to you.

How Much Collateral Do You Have?

Second, find out how much you owe on the property. The difference between the amount you owe and the appraised value of the property is your equity. It is the equity that will determine how much the lender will lend you.2 Compare the amount of the cost of the repairs to your equity after the repair is make. If your equity is larger than the repairs, you might be able to make a profit after paying off the loan.

IMG_00003655

The amount of money you need to borrow is the amount the repairs will cost plus a cushion of maybe 15 percent. The amount of collateral you can offer the lender is the equity in the real property. If the equity value of the real property is larger than the amount it will take to fix the property up, you have collateral to get a hard money loan.

Who Are the Lenders?

Hard money loans are typically issued by private investors (individuals or groups) lending their own money to borrowers with real property. The real property is their protection for making the loan and will be taken if the loan is not repaid. The primary basis for making a hard money loan is the liquidation value of the collateral backing the note.3  While the bank on the street corner will check basically everything before issuing a loan, including your credit scores, your income, the stability of your income, any missed payments, the amount of outstanding credit you have, and how the internal revenue service feels about you, the hard money lender will be are more interested in the value of your collateral than in your credit history. The hard money lender will determine the value of the property by getting an independent appraisal.

How Much Will It Cost Me?

Interest rates on a hard money loan will start at about 7.7 percent.1 The rate will depend on several things, including the liquidity of the asset. If the house you are repairing is in a bad neighborhood, it might be hard to sell even after it is remodeled and thus the interest rate on the loan will be higher. Broker fees also apply if a broker helped you find the funding source.

IMG_00003705_edit

The broker offers personal service to the borrower and administrative service to the lender. They give advice, do the paperwork, and make the phone calls involved in the transaction. They will also have the day-to-day experience and contacts to find the best rates for you. They then pass on the completed application to the lender.

Summary

In summary, if you are in a bad credit situation, have equity in real property you own, anticipate a project that will not take too long, and need money quickly, the hard money loan is probably for you.

If you find a deal, give me a call for a quick closing fix-n-flip rehabilitation loan. You can e-mail too.

Patrick@InvestorsLendingSource.com

Austin, Texas

512-213-2271

References

1. Hard Money Loans: A Complete Guide. California Hard Money Direct. Available at https://californiahardmoneydirect.net/2017/04/21/hard-money-loans-guide/. Retrieved November 2018.

2. Justine Pritchard, Hard Money Basics, How Hard Money Loans Work. Available online at https://www.thebalance.com/hard-money-basics-315413. Updated October 31, 2018. Accessed November 2018.

3. Wikipedia. Hard Money Loan. Available online at https://en.wikipedia.org/wiki/Hard_money_loan/. Accessed November 16, 2018.

 

 

 

Finding Houses to Buy and Owners to Sell — Strategy #2

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When you are looking for properties to buy and owners that are ready to sell, the internet is your number 1 detective tool even when you are looking for local properties. Your second most valuable tool in this search for houses to buy and owners ready to see, is your phone. I’m sure you use these everyday already, but just in case you have not considered all they can do for you, I’ll run through my list here.

For Sale By Owner

First search Craigslist ads (for example, houston.craigslist.org, austin.cragslist.org, sanmarcos.craigslist.org) local online newspapers, and even real estate sites like Zillow.com where you can find properties offered by owners. You can wing it too by typing into your browser window, every combination of key words with locations that you can think of related to houses that might need work and owners that might be ready to sell like with a location:

  • Fixer upper housing
  • houses for sale
  • must sell house
  • house for sale that needs work
  • vacant house for sale
  • real estate by owner
  • seller financing
  • FSBO (for sale by owner)
  • motivated seller

14_06_02_Property_For_Sale_Sign_Mamaroneck_NY

Properties Being Sold for Taxes

You might also want to look at government and auction websites where you might find houses for sale and motivated sellers. Some of these include:

 Probate Properties

Probate properties for sale are another possible place to find a deal. Probate properties are owned by the estate of a deceased homeowner and are often sold below market value to property investors and potential homebuyers. The process of purchasing these properties can take anywhere from 6 month to several years.

You can find these properties from a real estate agent that might be hired by the estate executor to disperse the property of the deceased. You can also find them with probate lawyers. You can also contact the local court directly and ask for a list of all probate cases filed within the previous six months. There is probably an online docket you can check as well (for example, http://www.traviscountytx.gov). Contact the attorney for the estate or the executor. This information should be on the docket sheet maintained by the court.

Contact each representative directly and ask for information on the status of the property, how they are handling the sale, and whether an asking price has been established. If the executor is motivated to sell, they may negotiate with you directly if the court has already approved the asking price.

Some estate properties sell at public auctions which are advertised. These however often sell at or above the market value of the property.

If you make an offer, you will have to put 10% down and be aware the court will have to approve the selling price. For more information about buying probate properties see https://www.wikihow.com/Buy-Probate-Properties.

After you have accumulated a list of houses, you need to start calling and setting up appointments to visit the property and discuss the purchase. Don’t forget to request an inspection. When you have a price, give me a call for a loan. You can e-mail too.

Pat St. Cin

Patrick@InvestorsLendingSource.com

512-213-2271

Austin, Texas

References: https://www.wikihow.com/Buy-Probate-Properties.