All Forum Posts by: Doug W.

Thanks for the clarifications @Account Closed.

Have you been to any local REIA meetings? If you have one near you maybe you should consider reaching out to the group's organizer and saying "Hey. Is there anyone in this group who you think would be interested in partnering on this deal?" Of the 4 local REIA's I'm active with they all have organizers who seem to know all of the regular attendees. My assumption would be that he/she could help make a connection and give you that extra layer of a quasi background check.

@Account Closed Just so we're clear....... you're looking for a partner with capital but also with experience? It might help if we know what kind of experience you want this partner to have. 

Is the duct work all rigid? If any of it is flexible ductwork you will probably tear it apart if you run a plumber's snake through it. 

I GC'd my first flip. I had some bad subs but some great ones, too. When you find a good one make sure to ask if they know of other subs. For example, my electrician knew that I was looking to have major HVAC work done and he asked if I wanted the number of a guy he knew. The HVAC guy was awesome! And since they both had reputations to keep up they didn't want to let each other down. My painter recommended a floor guy. The builder knew a plumber. Etc. etc. 

Just wanted to close the loop on this. There were 9 offers in total and I was not the winner. It was a bank sale so there was no negotiation on pricing.

I'm going to keep this property address on a "see what the outcome is" Excel sheet that I have and assuming that it wasn't a retail buyer that purchased it I will try to go to the open house if there ever is one. I might also look up who the purchaser is and if it's an investor I might be tempted to ask if he/she will give me a tour at some point. 

Thanks again for the advice. You all made me feel much more comfortable when it came to making an offer on this property. 

Who hired the appraiser? You or the person who sold it to you?

Can you please post the address or a Zillow link so that we can see the listing the same way that a prospective buyer would be seeing it if they were looking in your area? 

So did the spammers have any input on yellow letters? Maybe they have a strong opinion on bird dogging vs. wholesaling? 

When my first flip was on the market my agent called and asked "did you tell a woman that you would rent the house to her????" I was like "nope". Turns out that this woman found my house, with photos from the listing, advertised as For Rent on CraigsList. She emailed back and forth with the supposed owner and he told her that he was out of town and had no way to letting her into the home but that she should drive by. She did and loved it. Being smart she called my agent thanks to her name and number being on the for sale sign. It turns out that the scammer wanted her to wire him money as a deposit for this "too good too be true" deal. 

Good eye @Steve Babiak. I am comfortable with what options exist related to the probable asbestos in the tiles. For now I am more concerned with the walls given that I have no experience with that issue.

I do kind of like the green tint in those floor tiles. Hah! 

Good idea @Christopher B. Thanks! 

Thanks for all the replies, feedback, and suggestions. I also spoke to my agent and she said that she has represented buyers and sellers for homes with similar structural repairs and that an engineer's report as been enough to make the purchase and sales happen. I am going ahead and making an offer on the house. I'll let you know if I end up getting it.