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All Forum Posts by: Craig Bowen

Craig Bowen has started 8 posts and replied 74 times.

Post: New Member from Evans, GA

Craig BowenPosted
  • Real Estate Agent
  • Cayce, SC
  • Posts 79
  • Votes 42

Welcome to BP Joel, you have found a great resource!

The people here can help you with anything you might run up against in this crazy bizz!  

Best of luck with your goals!!

Post: Getting Frustrated / Losing Hope!

Craig BowenPosted
  • Real Estate Agent
  • Cayce, SC
  • Posts 79
  • Votes 42

Hey Mike!

First of all, your realtor is right. It WILL happen eventually. Nothing works if you don't work it! And your strategy is solid but just naturally will take more time in a hot market. One thing you may ask your realtor is if his MLS supports Cloud Streams.

Most agents enter their client into their MLS and set them up for notifications when a house is listed that fits that clients criteria; price, area, schools, size, etc. The problem is the MLS may do a mass notification only several times a week, so, while these entries are just being posted, the notification you or you agent get may be a day old or even more.

Cloud Streams is a real time notification system.  The minute an agent lists his property, if it meets the client's criteria, an email is sent to him, any time of the day or night.  I recently used this system to find a home for one of my clients that was severely underpriced, in a great school district and the perfect size.  The sellers mother had passed, he did not live locally and just wanted to move the property.  

His agent listed the property about 8pm one evening, my client got an email about 8:30 pm and called me, we looked at the property very first thing the next morning, and made an offer that was accepted by noon that day.  When I talked to the selling agent during our negotiations he told me he had 3 or 4 other people looking that day so it's a pretty good bet we would have lost the opportunity.

Speed is of the essence in a hot market and nowadays especially with all the new investors out there. BTW, a lot of agents have access to the Cloud Streams program but have not taken advantage for one reason or another.  

Good luck and hang in Mike...you'll get one, then another and then you won't be able to keep up with it...just happens organically!

Post: Another house flipped

Craig BowenPosted
  • Real Estate Agent
  • Cayce, SC
  • Posts 79
  • Votes 42

Hey Matt!  

Well done and very happy for your success, or what appears to be eventual success.  I do have one concern, especially for newer investors reading this; why did you not know what you would list it for before you ever purchased the property?

In no other form of investing or leveraging is it more true that you make your money the day you buy it.  Impossible to do that if you don't already know the value.  Just saying!

But hey, we all step in one now and then!  Best of luck in the future!!

Post: When partnering with a contractor - what is a fair $ split?

Craig BowenPosted
  • Real Estate Agent
  • Cayce, SC
  • Posts 79
  • Votes 42
Originally posted by @Judah Alexander:

@Rick Mapes

Please think long and hard before you partner with anyone....just like marriage :)

 No truer words Rick!!

Post: Surrounding Columbia, SC Areas. Chapin, Irmo, Lexington

Craig BowenPosted
  • Real Estate Agent
  • Cayce, SC
  • Posts 79
  • Votes 42

Hey Alex,

Did they sell your folks place on K?  And is it for rent.  Have some good local renters that are being forced out by the current landlord who is selling.  Let me know!!

Post: Ideas for raising money quickly for next rental property?

Craig BowenPosted
  • Real Estate Agent
  • Cayce, SC
  • Posts 79
  • Votes 42

Hey Nick,

Agree with Jason and with Natalia.  The time you spend learning the market (something I'll bet pretty much everyone here has thought about at one time or another) can be spent driving for dollars, putting up bandit signs, stuffing envelopes...on and on... when you are starting out!  Find out who the movers and shakers are in your area and beat their doors down....and learn!

Do this with consistency, and I promise you, one day you will just step in it.  Happens all the time!  And stay active here.  Ask questions and meet some of your local BPers.  This is the smartest group of people I have ever met when it comes to RE investing!

Good luck sir and remember, the better prepared you are, the "luckier" you are!

Post: What are these beams called and how can I remove them?

Craig BowenPosted
  • Real Estate Agent
  • Cayce, SC
  • Posts 79
  • Votes 42

Hey Carrie,

Think twice about this.  I'd bet a house that the thickness of the stucco on both side of each piece of trim is not identical and most likely will have a raised edge of the color coat that will need to be knocked off once the trim is removed. It will be virtually impossible to match the surfaces.  You can certainly paint (make sure to use an elastomeric paint anytime you paint stucco) but if the surfaces are uneven, at some point in the day, the light will be just right and highlight a very uneven wall.  The only RIGHT way to do this is to remove it all and re-stucco.  

I would think that updating the colors and enhancing the landscaping would be money better spent!

Best of luck!  It looks like a great project!

Post: Newer investor moving to Phoenix, AZ!

Craig BowenPosted
  • Real Estate Agent
  • Cayce, SC
  • Posts 79
  • Votes 42

Best of luck William!  The West side is very hot right now...(no pun intended)...my old stompin grounds.  We miss AZ a lot!

Post: Contract agreement

Craig BowenPosted
  • Real Estate Agent
  • Cayce, SC
  • Posts 79
  • Votes 42

Hey that's great!!  Creativity is the benchmark of this bizz and you now have a mentor for a while.  Really good stuff there.  I hope others read your thread!

Post: Investor loan down payment

Craig BowenPosted
  • Real Estate Agent
  • Cayce, SC
  • Posts 79
  • Votes 42

Chris you are correct, and since i have not done it, I don't think of the HELOC as an option. Thanks for the correction...