All Forum Posts by: Account Closed

I've gotten a couple of yellow letters (Wake County). I called both and left a voicemail (my name, address of property, phone # and an invitation to discuss), but never heard back. I was not interested in selling, but I was interested in making contacts because I want to buy. 

I don't understand why some folks bother to spend money & time to send out these letters, but don't call back. Maybe they sent out too many at once and the volume of calls was too much? But maybe call me back two weeks later or a month later or two months later? Nope, didn't happen. 

In addition to the BP podcast, I also like Justin William's House Flipping HQ (he's all about systems and scaling and goes into details with his guests) & the Real Estate Guys (more macro and across different disciplines of investing).

On the non-REI side, I loved Serial (can't WAIT for season 2), Sword & Scale, How Stuff Works (learn SOOO much), Throwing Shade (so funny), some NPR and running podcasts (to stay motivated and keep learning!).

@David Shulski

Which part of Long Island? I have family in Massapequa and Rockville Centre. They all prefer more traditional finishes. Hardwoods are a must (but maybe you can put carpet in the bedrooms), granite, bright, clean. Nothing too out of the ordinary. Molding in dining room, at least. Go neutral with color. No surround sound needed. 

Do you want to post a few pictures so we have a better idea of what the current property looks like? If not, that's ok too. 

Good luck!

I think professional pictures are key. First impressions are important. Nowadays, with almost everything done online, pictures are what the potential buyers and renters see first when they search various sites. These professional pictures make a fantastic first impression and will get people calling and in the door.

Like @Dawn Brenengen , I agree @Trey Thomas does a wonderful job. He did one of mine a few months ago (just for my own records) and it looked tremendous. My broker really loves his work, as well. We just started a flip this week and will use him again when we're complete. 

@Frank Gucciardo

@Jonathan Twombly

good points, guys!

Check this blog out:

http://www.doorsixteen.com/category/my-homes/house...

Not sure if I can link to a blog (not my blog...I don't have one). Just thought it would be an good read for those interested. I am not compensated for linking. Mods - if I should not link, please feel free to delete the link.

@Jinyu D.

Different lenders have different requirements.

Some lenders I've spoken to view you as liable for the debt just because you are on title (even though the loan is not in your name).

Other lenders I've spoken to count the loans that are in your name only. Even if you are on title, they will not count as one of your mortgage slots.

You have to call/interview different lenders and see what their or their investors' requirements are. 

Best of luck!

@Alisha Mingus

Lease options are highly regulated in NC. Sub-tos, as well.

For LOs, please be sure to have the lease, option contract, purchase agreement and memorandum of option. If you are planning a sandwich, you need to wet close. 

Best practice would be to consult an attorney in NC. 

Do you know the condition of the property? Also, are you planning on using a PM, if you decide to keep it as a rental? If the appraisal is important to you, then you must get a new appraisal.

Why can't they sell? That's a big red flag. What is the feedback from the current agent? 

What is that square to the lower right side of the tub (half hidden by the vanity)?

If most comps have granite and stainless, then I would go for the same-ish. Get a lower-end granite with a regular edge. SS appliances are sometimes sold as packages that can be more affordable instead of buying piecemeal.

From the pics (can't see the entirety of the kitchen), maybe the range and fridge can be ok to keep, if you want to save some dough. Or if you decide on SS, then sell the existing appliances on Craigslist (every $100 bucks helps!).

Since the cabinets are solid wood, just paint the boxes and fronts. White is always safe. Get good primer. Maybe replace hardware too. If you want to get more fancy, add a crown. 

@Account Closed

Beautiful job! Fantastic transformation - the one you did in downtown a few months ago was wonderful too!