All Forum Posts by: Andrew Moore

Thanks everyone!

I've mentioned to him that his pool of buyers will be much smaller if he leaves it in there. Really, if he took it to market, his secret is blown.

I've thought of a consultant to give a valuation as well. Also suggested he just pull it out and sell it off or move it, but no go. I believe that he is basing his price on future earnings as well, which is not the business I want to be in. Hours in a basement, not my thing.

This county's legislation, as proposed would allow this to be legal for a licensed grower- because it's indoor, with a seperate entrance. However, I doubt the installation (electric) is up to code.

Anyway, I'm trying to bring him back to the table today. It'd be a perfect home to build up, renovate and operate my business from.

Everything's negotiable until it's not, right? I'll keep pushing and update. 

Thanks again for the insights and well wishes. I really want to wrap this one up and turn it into a stellar home! ...all the potential is there.

Best,

A.

Ok, folks.. Off market 3/1, lots of rehab upside 80K. But the seller has a non-operating grow room in the finished basement he wants a side 30K for. (Hard not to laugh, but he sees the value there and considers the two, one and the same).

And it's been there for 10years. I want to buy the home (apples) but he wants to sell the business (oranges) too. Even with questionable legality aside (Siskiyou co ca), he'd have to account for depreciation, etc.

But I Dont even want to go there.. see his 80Kand raise him 10K?

What about an appraisal/inspection? Code? Plant hydro tomatoes?

Frustrating, he owns it free and clear, its vacant, I want to live in and rehab it. Re-fi out asap and see a 50K gain.

Ideas? Thank you folks, A.

As it turns out a storm had thrown some water up the eaves of the metal roof, that was not correctly installed. Minor, but showed through the edges of one wall.

Seller wants a home run at 100K to walk away, but I know cash would talk him down. He's owns it free and clear, as well as a few other in town. But knows he'll have to file a claim on the current insurance to bolt down that roof and check sheetrock. 

Upside to be done, exterior cosmetics, new front deck/stairs, and then put in a staircase (like so many homes of the same construction in this town) and finish the the large attic with livable space (possible second bath up there). ARV @ current comps 160K, but would recommend renting for a year or two for the market to catch up and the large project close by to develop.

I see it all there, but I'm still working on getting my private funding in place to move on things. And then another one pops up.  I love the hunt.

Good Sunday All! It's a great day to be in Real Estate... Here's to you!

Also major S.F. dollars coming in on a 'green' deveoplment project right there. And two ready vacant / distressed homes right behind the one i want to wrap up tomorrow. If cash is needed, ill make that bird fly.

...being totally objective, not employing emotion whatsoever...

@J. Scott,

Hi, I'm a fan. :)

Curb appeal would go along way with this on. I'm not so worried about the price as the second BDRM would be an office write off/right off.

Though I Dont know the buyers needs or what I'd need to do inside, it'd solve plenty of problems by just being back on the grid and in town.

It is a FSBO, and unlisted/off market except for a sign out front. And its being lived in by the couple I rented an office from. Seems timely and fortuitous..

A hearty hello to the great nebulous mind that is BP.

Currently I live on the south side of Mt. Shasta at 5000', completely off grid, all to my design.

This takes up an incredible amount of time to keep all systems running. It's time to get off of this mountain and get to work.

Work- though I have a pretty extensive background in RE, from management of highrises in S.F. to working for a Master Appraiser in Sacramento, more management and asst positions in Seattle, multi-mill prospectus writing, and I've flipped two homes in Portland to a decent success. All that said, I've been studying to be a home inspector in my fine state of CA- and I've just been picked up by Home Inspectors of America. My LLC is filed, am insured and am moments away from Nachi and CREIA certs as well.

Back to getting off of this mountain, so I can get to work... There is a family in the nearest town, whose members I've employed here on my property, and I've also rented an office from. One of the brothers has a small 2/1 for sale at $100k, and he owns it free and clear. I have no real down, but could borrow against this property I own, or hard money, or he could finance the whole thing at a strong rate and I could re-fi as soon as the note matures and in the meantime build equity (could use some lovin' + color) and refi asap with a conventional note. And on and on.

I meet them (as I've said, they know me (and I was always early with my rent, so that's history)) tomorrow at 10:15, at the property. No, I've not seen the inside yet, but I have comped it out and some of those classic (1914) 2/1s have cruised around at $175K.

Insights???

I need this house...

Thanks a mill!,

ADM

Hello most fantastic BP family! I know, I know, I know I should have a prof-pic, but the upload button doesn't like my Xoom tablet, or its the other way round... As soon as I switch computers, its on its way.

First, a super huge thanks to this site and all the great contributors. I wish I'd found you all years ago. With all of the helpful info up for offer, Im sure, yes certain, i wouldnt have taken the REI hiatais I did, but that's okay ~ I'm on it now...

Also, I'd like to say that the podcasts are absolutely epic. So much stellar information! Alas, sadly, there are only so many hours in a day... 

In closing, I'd just like to reiderate how impressed I am with this site, podcasts and community. Its obvious I've found my like minds! :-) 

Happy, happy holiday season to you all ~ and may each of us, and our teams, be well positioned, focused and oh, so, ready to make 2015 our best year ever!

Sincerely, your friend, in Spirit and Action,

Andrew D. Moore