All Forum Posts by: Blake Novotney

A good agent can be a make or break for the whole deal, and how much that deal is in your favor with the agent really fighting for you. The best way to find one in my opinion is to go to the other local investors in whatever area you are buying and ask for a couple of recommendations. They will have already proven themselves to others.

Shouldn't matter to them you are using a HELOC, people use them all the time these days for down payments on other properties as long as you still qualify. Is your plan to flip the foreclosure house? You likely don't want to hold that HELOC for long like a mortgage as the carrying cost will be significantly higher if your plan is to keep it.

 I love Florida and its beaches, St Pete might be my all-time favorite place on Earth I used to live there, but, I thought there were some pretty serious rental restrictions there? 

 Asheville, Black Mountain, or somewhere else close to Deals Gap (Tail of the Dragon) which is a famous route known for its crazy twisty roads are all areas I'm looking. 

 Maybe some others here could also chime in to share their experiences with mountain STRs in the off-season because I am in a beach town so my market stays occupied year-round easily as well. I really want to purchase a mountain property (Western NC) but I have no idea what to expect there in the  November-March months.

 I love FB, I feel like there is so much gold on there for real estate leads!

I'm so sorry this happened to you! It sounds like an unfortunate reminder to trust your gut... I have a very good friend who just went through something similar and Airbnb did not investigate the case further. I hope filing that police report on your end will force them to take action, and give you a favorable outcome!

Great write-up, and glad you got it closed! Working with lenders (or anyone for that matter) that just don't care about the transaction as a whole is incredibly frustrating. How did you come across this lead, I saw you mentioned bringing it current, were they in pre-forclosure?

Have to agree with Michael above on scoring great stuff used, as I've had great luck on Facebook marketplace. I have gotten all kinds of things from a $7000 couch for $150 that always had a cover on it, to dining sets and decor. People are usually selling furniture because they need to get rid of it, so deals are always to be had. Just look for quality construction, made out of real solid wood, etc.

Easily the most important are the kitchen and bathrooms. Look on Zillow for how the highest sold comps in the area were finished, try to keep yours on par with something similar or better. I think it goes without saying that increasing SF if possible in an unfinished area would be a huge value-add as well, but also depends on the subject property and what is already there. In my area a lot of people will add a 1/2 bath and bigger closets to some of the old and smaller historic houses, which is what gets them more money from buyers here.

Best of luck!