limit is six months, may or may not be enforced; depends on your neighbors mostly. you will not be able to get electricity with out a building permit for the permanent structure; may be hard to get water too.... more
base flood elevation is at least 17' above sea level in waveland- you can download the FIRM from FEMA to see the elevations,as well as the flood zone designations. In the Pine Ridge area you will need to elevate.... more
For about $50 you can open a LLC (Limited Liability Corp) at the Secretary of State. It takes about 5 minutes to go online and get a tax ID for it if you need it. (Or you can create a Trust to purchase it through.) By naming them something other than your name, you make your offer under the company name and you can designate who can sign documents as a member. (How legible is your signature?) This is how a lot of investors purchase rental property ect. because it limits personal liability if someone sues them. Just a thought.... more
Well, obviously, you talk to people with gutted houses.
The question I suppose you're asking is: How do you find them?
A few may be listed on the MLS. Try "handman special" and similar terminology.
A lot are in foreclosure. What happened is that someone tried to rehab a home. They got partway through, then ran out of money. When those come back on the market, they'll be in the MLS, too. But then you're buying from the bank, not from the seller.
Contact hard money lenders. They'll have made loans on some of the rehabs. When the rehabber ran out of money and couldn't repay the loan, the hard money lenders foreclosed. Because the hard money lender lent at about 65% of after repair value, you should be able to get some for a good price. In fact, if you have rehabbing skills, the hard money lender might lend you the money to continue the rehab.
Also, check your local court dockets for contractors suing homeowners for non-payment. In some cases--as with the rehabs mentioned above--it's possible the homeowners ran out of cash for the renovation or rehab. In this case, contact the homeowner.
Does the house meet the current requirements for elevation? On October 15, 2009, the elevation requirements changed. A gutted 2,000 sq ft house that meets the elevation requirement to be rebuilt should be worth approximately $45-65,000, depending on it's condition. Call me at 228-586-1411 if I can be of further assistance.... more