All Forum Posts by: Tyler H.

George are you a salesperson or broker? I could not find your number.

FYI - Your site and all advertisements should have your DRE# on it....

No, during the "owner occupied" period when HUD will only sell to owner occupied buyers, BEFORE they open it up for investors.

The original offer was submitted through the HUD site. Once notified from the agent regarding the highest and best offer, we were told to sign the "multiple offer procedure form" and return that VIA EMAIL with any changes to offer.

So we did raise the offer.... But it was only sent to agent (perhaps to keep things concealed?)

The initial offer was submitted online. For the "highest and best", we were instructed to send to the agent via email..... Agree that the final sales price could have been lower than the offer they "accepted".

So last November I submitted an offer for a client on a HUD home, during initial owner occupied period. The home was listed @ $200K. Our submitted NET offer was slightly above asking price (conventional financing).... We received a highest and best, in which my buyer raised to $15K over asking. We did not win.....

I just stumbled across the sales history and what do you know? It was sold for asking price, $200K!!!

So who has any ideas? From what I have read, HUD will go with the highest NET.

Only 2 things I could observe, from outside, was;
1. HUD agent double ended deal... Would love to think this wasn't the deciding factor.... But hey it is money!
2. Accepted offer was Cash..... Would make sense (maybe, 15K!) for a private seller, but is contrary to what I have read about how the HUD process is supposed to work.

Looking for any ideas or suggestions,...

I have a client who is thinking about selling his small portfolio. I thought I would throw this out there and see if there was any interest in the community.

The portfolio consists of 2 houses in Lancaster, Ca. and one in Stevenson Ranch, Ca. All are occupied by long term tenants. Breakdown;

1. Stevenson Ranch - High end area. 2 Story 3+3 1750 Sqft.
Valued @ $650K - $3000/mt Gross Rent

2. West Lancaster - Good Location. Section 8  tenant. 3+2 1750 Sqft.
Valued @ $300K - $1650/mt Gross Rent

3. East Lancaster - OK location. Section 8 tenant. 4+2.5 1800 Sqft.
Valued @ $220K - $1750/mt Gross Rent

All 3 valued @ $1,170,000. 

Most of the Section8 income is direct deposited.

If you or anyone you know might be interested please drop me a message.

Thanks!

I have an 9 acre lot in a prime location in Simi Valley..... I have done a lot of research and here is the skinny..

The goal: Create tract map and subdivide into 8-9 custom home lots

The problem: Lot is affected by "hillside performance standards". Needs tentative and final tract map, road cut in, utilities run. I have been told costs could run as such:
$60K for tentative tract map
up to $100K for Environmental Impact Report (WTF?!?)
up to $60K in city entitlements
$90-120K for final tract map and engineering

Seems like an awful lot considering no physical alteration to the lot are included in estimates....

Estimated value of each lot would be minimum $250K.... So there is profit to be made.

Any civil engineers or developers out there want to do a JV or similar?

Advise or suggestions appreciated!

As a Realtor that actively gives my buyers a 1% rebate, let me break it down to you like this..... MOST Realtors will tell you rebates either don't exist, you get what you pay for, agents would be crazy to offer it, bla bla blah. If you are one of the few top performing agents making millions per year, OF COARSE your not going to discount your services. Now for the rest of us....

87% of Realtors fail, mostly because they have no new business. We have all heard of 2/3 of something is better than 100% of nothing? I decided to redirect my marketing budget and essentially allocate it to the rebate. Since I have started giving my rebate, my referral business has increased dramatically, and its an easy sell for me when Im going up against "the other agent" who says "rebates dont exist!" 

Just closed on a $500K condo, gave the buyer over $4K towards closing costs! 

As to your question, I would not expect more than 1% rebate; It will be credited towards closing costs and on your HUD1 statement. I dont think any agents want to show 30-40 properties, but with the internet and tools available you usually dont need to actually view that many.

I would offer to help, but you are a bit too far for me to drive :)

You can see it here

I have listed an 8.9 Acre parcel in Simi Valley with amazing views over looking the valley. Its currently listed at only $450K, but I have not been able to connect with a developer who would entertain the project. The property has been owned by my family for a long time, so I have a vested interest in either getting it sold, or coming up with a creative business venture utilizing the land.

SO what's the problem? The property slopes up a hill, and Simi Valley decided to create the "Hillside Performance Standards" that regulates that you cant build on grades over 20%..... We dont have a survey, but I would guess that less than 50% of the lot is sloping over 20%. Secondly, there needs to have a road graded and paved off for access. (road runs along side of lot).

So Im thinking a developer could probably build 8-9 custom home lots... (havent found him yet) There is a nearby development (big sky) with large tract homes that sell for $800-1M, so custom 1 Acre lots would have a premium.

Other than that, what are your creative ideas? Anyone have experience with "hillside performance standards"? 

Grow a crop? Camp Grounds? Park? Oh wait, I like this one.... Zip Lines.... We'll utilize that slope :)

I main cell carrier would be Verizon, Sprint, T-Mobile, or one of the many that ride on top of their networks like MetroPCS or Boost. I have come across no "business professionals" that are using VOIP for their cellular line. VOIP has many benefits, but primarily is reduced cost in an office environment for long distance.

Any fraudster can go online and get a anonymous VOIP phone number to hide their identity... This is why is raises a "Red flag". If you are a real bank or lender, you would probably at least have an office #, verifiable address, cell #, and online presence.

And for "putting money in the deal", NO! Not in the sense that Botros, and all Fraudsters, expect you to pay up front fees. With the exception of a few items like appraisal, most would agree to NEVER pay ANYTHING up front! Yes, this would be another red flag!