All Forum Posts by: Chris Cooper

HI Josh, welcome! There is a really active REI group in Chicago from which to learn from. @Brie Schmidt leads a group that meets in the Western 'burbs once month. Be sure to set a keyword alert for "Chicago meetup" so you can catch any news. Here is a post about one tomorrow!
 https://www.biggerpockets.com/forums/521/topics/18...

Good luck!

Chris

Ok, know I understand where you are coming from. Thanks for the follow up

Hi @Larry Turowski 

Your comment: "It might still be less than what is owed, but won't be enough for you to make a profit."

But then below that, "Find an investor (go to your local real estate investment association) who can help you with the short sale process. Offer them a cut of the deal"

Can you expand this thought? If there isn't enough to make a profit for one person, how will there be enough profit for two?

Thank you. 

Congrats! Much success going forward, best of luck!!

Have they found a home already? If not, offer that you will allow them to break the terms so long as you will be making the same or more rental income than if they had fulfilled terms of the lease they signed, and when you do - they can receive get their deposit back. Which may go a way towards helping them decorate their new home or whatever. 

Also you should request they work with you, i.e. keep the house in showable condition (clean, animals put away, whatever) for when you are showing prospective tenants. Make that a condition of them getting any deposits back.  Make that as incentive to getting their security deposit back and they are more apt to work with you, hopefully.

Good luck - let us know how it shakes out!

Hi Tonia, 

We did read about a few hacks. One we are using is to use 4 milk crates and an air mattress with a bedspread for a bed (and a do not use sign!). Much easier to store and was less expense.

It does go both ways out here, searching the MLS there are a good mix of both staged and vacant. Majority have furniture, but they are clearly lived in by the amount of items in the house vs few items to "sell the vision".

We are leaning towards minimal staging, which will help by giving us a place to sit and talk to buyers (we hope!) during a open houses we'll hold. 

Just looked up your town, you are way up North in Wisconsin!

Thanks for the input and have a good weekend!

Chris

Thanks Marc, 

thanks for the insight and good idea on negotiating with them for repeat biz. Def worth having that conversation if we can find a reasonable one. 

Thats true about making the rooms seem bigger if vacant. We are thinking that some small things, i.e a queen bed in a MBR vs King, a loveseat vs a sectional, etc - to give the impression of how things good fit would give it more the lived in home. Its all opinion-based though, because like you said, @Michael Connor , we don't have that crystal ball to what is the final push for a buyer to make the offer. 

The good thing is finding stuff that is cheap and decent on Craigslist is pretty easy, and we can offer it with the home is someone happens to like it, or we can take the stuff to use for our next flip, so the cost would be spread between a few homes, (ideally). 

Good stuff Cal and Michael, thanks for sharing!

Morning all, happy Friday!

We are getting ready to list a home and have been reading a few RE blogs and thought I would ask those that have been there, done that. 

What is your experience/opinion on staging a home before listing it?

Staging the home with a few pieces of furniture & home decos certainly makes the home look more "homey" (especially for the MLS photos) and staging can help a buyer visualize their items being in the house. But on the other side, does it make more sense to leave it empty and let a buyer see it as a blank slate?

Probably not a cut and dry/black and white answer - just curious on your opinions on the subject.

Thanks for sharing any of your thoughts!

Chris

Thanks, Jon. I do hear what you are saying - I've certainly been to many auctions where the bid is just that - way to high. I've never looked for a personal home via auction, but you are right - can't fall in love with it as there are soo many unknowns. It sure would be great if it works out, but I know many pieces have to happen for it to happen. Figure I may as well be prepared, just on the one in million chance it all does! 

Thank you for the reply and insight, much appreciated. 

Chris