All Forum Posts by: Scott S.

There is a good chance I'll be moving to Tucson for a job promotion in the near future. Problem is I know very little of the area. If there are members living in Tucson who could help me learn about the market I'd sincerely appreciate your help.

Thank you!

Hello All, I recently looked at a short sale single family and thought the circumstances warrant discussion. The home owner hired both a realtor and a negotiator, the rub is that the buyer has to pay the costs of the negotiator. These costs seem excessive to me. On a home that is worth around $100k, the costs are as follows: Debt Management Fee - $6000 Document Review by Attorney - $1000 If sale delayed due to buyer not providing documents timely - $250 If Buyer cancels Agreement for any reason other than failed inspection or contingencies - $500 These are all costs outside the real estate transaction, so doing a conventional loan will require that I pay 20%, closing costs, etc,and the negotiator fees. Has anyone had experience dealing with a seller hired negotiator for a short sale? Thanks in advance!

Thank you all!

I live in Arlington VA but own rentals in Central Oregon. I pay a property management firm 8% of rent and am very happy with the service they provide and their rates. I let them fix all issues up to a pre-agreed price and anything over that amount requires they call me. I had planned on only keeping them onboard until I moved back but I may consider keeping them long term.

Hello, I purchased a view lot at the bottom of the market and would now like to sell it and put the proceeds into a rental property. Does anyone have a book or other resources they would recommend to a 1031 newby? Thank you in advance!

Thank you all for the warm welcome.

Scott

Although I joined a few months ago and visit the site frequently I haven't introduced myself. I certainly appreciate the BP resources and really enjoy the member articles. My situation is probably somewhat unique, I'm in my early 50's and am looking at retiring from my current employer in 4 years. I will receive a pension but it's not enough to live on comfortably. I would like to become a real estate broker at that time. I currently own my primary residence and have purchased/financed one rental single family that is returning over 10% per anum. I also own a view lot that I plan on selling in a year or two and rolling the proceeds into 3 or 4 more single family homes. I currently have offers on two single family short sales which I'm waiting to close on. One has shown very little movement over the last 7 months but the other should close soon. My goal is to pick up 5 to 7 properties in the next 4 years to creat a new cash stream and utilize to augment my retirement annuity. Scott