Two things - Posted by Ted
Posted by Ted on December 31, 2000 at 18:12:39:
I have two things to post about…first, I wanted to let everyone know about my first deal…townhouse in Baltimore city in an area of mostly owner occupied homes. I picked it up for $12,350 and used a hard money lender who financed 100% of sales price. FMV after rehab is 45-50k and I already have a buyer lined up. Needs about 7-10k in repairs. Second, I was talking to a seller of an apartment building about a possible l/o and he brought up the fact that the insurance (although I would be paying for it) would be in his name and ultimately he would be responsible for anything that happened on the property and open to a civil law suit. Anybody got any ideas on how to handle this in the future so the seller can be more comfortable with it. Any help is greatly appreciated.
Good luck to all in the New Year!