All Forum Posts by: Brian Ploszay

It overreaches, for sure.

Wholesaling in my state received some new laws last year.  Long over due, as wholesaling was a lightly regulated business.  Funny, I am calling for regulation.  I found wholesalers to be the least professional group in my business.  The complaints would make this post too long.  That being said, I've bought a couple of properties from them over the years from a very ethical wholesaler.  So if you find a property, go for it.  Please ignore their ARVs which usually are fictitious.

Realtor is actually a trade designation.  You have to belong to your local association of Realtors to call yourself one.   Outside being a Realtor, they are generally called brokers.  I value any broker who brings me an exclusive, especially off market deal.  If an apartment broker calls me with a building he is listing, I work with him, but realize that his agency duties are really to the seller.  Really to make a fee and not provide valuable consulting advice.   When selling a property, if I find a great investor broker who brings me a good price, I happily pay their commission.

The answer is:  It depends.  For commercial properties, especially local banks, having an established records and previous banking relationships can help you achieve that.  More often, banks want the borrower to contribute some actual equity from the purchase price.  

Provide more details, if you'd like.

Carpets rarely age well with rentals.  I would go with the planks.  They can always buy sectional carpets on their own.  

I know you feel horrible for what has happened, but take the (small) loss and don't look back.  In real estate, lots of good things happen.  As well as bad things.

I always do final walkthroughs before a closing.  No sooner than the day before.  (I take a one day risk.  If you represent a client, it is preferable to go the day of closing).

Very common in parts of Texas from my understanding.  For a rental property, the solution is a bit easier.

If you fix it, you won't have to disclose this issue.  I am assuming it is a single unit rental.  In my state, you have to disclose issues that you know.  

Else, you disclose this issue and sell it.  Generally, you will scare off potential buyers and limit your buying pool, and perhaps price by not fixing it.

The transaction costs of flipping would most likely make that deal close to break even.

Zillow certainly can't easily tell if one house got remodelled and another one is a wreck.  That being said, the algorithm is getting better.  For me, I'd retire if I'd get Zillow valuations for some of my properties.