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All Forum Posts by: Kevin Torrence

Kevin Torrence has started 3 posts and replied 17 times.

Post: No buyer... Should I cancel this deal??

Kevin TorrencePosted
  • Real Estate Investor
  • Texarkana, AR
  • Posts 18
  • Votes 3

Marlena place an ad in the largest newspaper in your area. Example:

Handyman Special! Must see 3bd/2ba 2car garage Won't last long, my loss is your gain. Call Now for details 555-5555

Make sure to answer your phone, do not use voice mail.

Post: House vandalized day before closing. Earnest money?

Kevin TorrencePosted
  • Real Estate Investor
  • Texarkana, AR
  • Posts 18
  • Votes 3

Hi Rob, Let me guess the seller got over exuberant on the carton of smokes you gave him and burned his house down. Didn't he get the message - Smoking can be hazardous to your wealth.

Post: House vandalized day before closing. Earnest money?

Kevin TorrencePosted
  • Real Estate Investor
  • Texarkana, AR
  • Posts 18
  • Votes 3

Hi Kathy, unfortunately I didn't interview the neighbors until after the vandalism. But thankfully, I got a second chance before going to closing. You're right, you can learn a lot from knocking on the neighbors door. This lady nearly talked my ears off about her neighborhood.

Post: House vandalized day before closing. Earnest money?

Kevin TorrencePosted
  • Real Estate Investor
  • Texarkana, AR
  • Posts 18
  • Votes 3

Thanks for the response guys. My agent is also the listing agent. She said she will contact fannie mae tomorrow to see if they will refund the earnest money but she doesnt think they will. Fannie mae is also paying a bonus to her for also being both the listing and buying agent. I think she has her chickens counted before the eggs hatch. I also knocked on the next door neighbors house to see if they heard or saw anything and she let loose how the house was a dope house. The police kicked in the front door and arrested the previous owner. Needless to say I now will interview neighbors before I offer on anymore vacant homes. I also just reviewed my contract and paragraph 23. Risk of Loss, states I have the option to terminate contract due to vandalism and receive my earnest money back, so I will be more demanding tomorrow morning.

Post: House vandalized day before closing. Earnest money?

Kevin TorrencePosted
  • Real Estate Investor
  • Texarkana, AR
  • Posts 18
  • Votes 3

Met with my realtor today to do a final walk thru before closing on a fannie mae foreclosure tomorrow. To our dismay, house has been vandalized with spray paint of gang signs on the interior walls and the back door kicked in. I asked the realtor could I get earnest money back(1000) under these conditions and she said no.
Anybody got any advice? I would like to try and contact fannie mae directly and plead my case.

Post: US Credit Downgraded from AAA to AA+

Kevin TorrencePosted
  • Real Estate Investor
  • Texarkana, AR
  • Posts 18
  • Votes 3

Dow jones currently down 287 points.
Congress currently pointing fingers at each other.
My wisdom to exit the stock market years ago and invest in myself, Priceless!

Post: US Credit Downgraded from AAA to AA+

Kevin TorrencePosted
  • Real Estate Investor
  • Texarkana, AR
  • Posts 18
  • Votes 3

Just maybe, just maybe the public will finally show OUTRAGE for the political nonsense of congress and the president. This damage was entirely self inflicted by congress. I am patiently waiting for ABC, NBC, or CBS to lead off their newscasts with someone grabbing the neck of a congressperson.

Post: US Credit Downgraded from AAA to AA+

Kevin TorrencePosted
  • Real Estate Investor
  • Texarkana, AR
  • Posts 18
  • Votes 3

S&P's downgrade was in no small part a reaction to the "political party first, country second" mentality from congress. Poll after poll consistently showed that the vast majority of Americans wanted a balanced approach to dealing with the debt ceiling. Both spending cuts and revenue(tax)increases. So where is the outrage from the public? For congress to behave this way and then go on vacation is beyond belief to me. Part of me is glad to see S&P flex its muscle and put a check on this type of behavior. Until the general public learns to intelligently elect and hold accountable their representatives we all will continue to react to our Kings and Queens of the U.S. congress.

Post: Information overload

Kevin TorrencePosted
  • Real Estate Investor
  • Texarkana, AR
  • Posts 18
  • Votes 3

Antoine, the answer is no. This is what stops people: hanging around negative people, ignorance/low skillset, lack of capital, no determination, low self esteem, fear, and lack of ambition are just a few traits that stop people from doing their first deal.

Post: What Is The Most Valuable Lesson You Have Learned In RE Investing?

Kevin TorrencePosted
  • Real Estate Investor
  • Texarkana, AR
  • Posts 18
  • Votes 3

Hey Don, LOL, good point. Which brings me to my advice. Take time to enjoy life, after all that is the bottom line reason most of us choose to be rei's.