All Forum Posts by: Account Closed

@Matt Rothwell

I would think Zillow would get the most hits. Of course, CL, as well. 

Make sure to take crisp, well-lit pictures that show the layout - they go a long way. I don't understand pictures where they stand in the middle of a bedroom and shoot the corner of the room. 

Definitely mention ITB and even spell it out. Some people might search "beltline" or "inside beltline" or "west raleigh" or "southwest raleigh". Stress proximity to NCSU and other known amenities, transportation options, parking availability, etc.

@Dawn Brenengen is the expert on this, so maybe she will have some great tips!

Best of luck!

@Russell Brazil

If it's priced correctly and shows well, there must be something(s) that is preventing an offer from coming in. 

Maybe the feedback you've gotten are not 100% honest or the feedback was lazy and lacking in detail? Perhaps ask for further details on the feedback? Have the showings slowed down now that it's 18 dom?

Maybe link the listing here (if that is ok to do, not sure) and get some feedback not just from agents, but from the general crowd and see if any house-hunters have any feedback?

Best of luck!

@Candace Berry

Beautiful home and great location!

When I looked through the pictures, my first thoughts were "beautiful!, tasteful!". When I got to the kitchen, I paused and scrolled back and forth a few times. I feel the kitchen is likely the 1st or 2nd room to sell a house and I thought this kitchen was a bit small for this house and the layout could flow better. The range is great, but maybe something bigger/wider for this house, more burners. Ceiling height cabinets will be great, as well.

Consider more staging, so the house feels like a home when the potential buyers walk in? At this price point, that might be worthwhile. 

Also, even though some people say they no longer prefer the open concept, the majority still love open concept. If going for the historical layout, then the entire house should match that - but the house in general feels traditional, not historical, to me. Not a bad thing, as traditional style appeals to a broad audience, which is what most investors want.

Great job and best of luck!

I think it depends on the market, who you are talking to and what you are trying to achieve.

In markets here in Brooklyn (think Williamsburg, Bushwick, etc.) Queens (LIC, etc.) - you will likely do better dressed more "hip". No suits - that's a different market (unless we're talking Thom Browne suits). If you want to connect with the hipsters, you might want to present as someone that can talk organic elephant poo coffee, etc.

If you're doing business in the bankers' areas or where old money is, then go ahead and where the bespoken suit and shoes. 

Any other areas where the clientele is not as specific, then a well-fitted suit or blazer never hurts!

@Carl L DeCesare

Congratulations! I agree - you have to get out and talk to people. Raleigh is an incredibly robust market. I love to hear fellow investors helping each other - pay it forward! We can all do more when we work together!

NYTimes article focuses mainly on Midwest (particularly Ohio) and South and how some investors are selling distressed properties to lower income people, who don't necessarily understand what they are getting into. 

Interesting read. 

Thoughts?

Link below:

Market for Fixer-Uppers Traps Low-Income Buyers

@George Torres

In NYC, coops are generally less than condos and SFRs, for a number of reasons, some of which @Matt R.pointed to. LA might be different, though. I suggest taking another look at the comps or maybe enlist a broker for a professional opinion.

Some things to consider for yourself and for your end buyer:

1. Is the coop in a good financial position? No one wants to buy into a dud.

2. How much is the monthly maintenance fee?

3. What are the requirements of the board? One might be able to get a loan with 20% down, but a lot of coops require 25-35% down.

4. Is the board easy, ok or difficult? 

5. What are the board's reserve requirements? Some boards might require 1-2 years of maintenance + mortgage, etc. after closing.

6. Flip tax?

7. Upcoming assessments?

Coops are somewhat of a different animal. Do some more research, particularly on that coop you are interested in. Some buildings have certain reputations, good or bad.

Best of luck!

You can take a loan out for either:

- 50% of your account balance UP TO

- 50k

Usually pay back within 5 years max, payments starting soon after loan is taken out. If you leave your job, you will need to pay entire balance back.

Rates are pretty good, probably around 4-4.25% right now.

@J Scott

@Chris Martin

We closed on a Wake County property (Raleigh) in September. The closing was at 11am, they submitted electronically, we circled back to the lawyer's office at 2pm to get the keys (we can only get the keys after recording). So, electronic submissions can be relatively quick. 

When we close with traveling notary, though, we usually close at night, then we hear back from the attorney the following afternoon that it's recorded.

Curbed - Austin

I am not in the Austin market, although I have friends that have moved there for work in tech (they all love it and no one wants to come back to NYC). 

Just thought this might make a good & quick read. It's a crazy hot market over there!