All Forum Posts by: Dustin Verley

I will definitely make an effort to be there. Thanks for sharing.

@James Masotti I’m on board if you have something coming up. Will also do my best to flex my schedule at work in an effort to attend if there was a conflict.

Keep me posted...

Bob Mazza According to a piece on Forbes I just read, it was proposed. However, in the conference bill (the reconciled version of the tax reform between both version, or in other words, the final bill) — both Senate and House agreed to make NO changes to the exclusion of gain from the sale of your home provision. In other words, they aren’t changing the provision. So you should still be good in February when you sell. Source: Forbes (website), Article: It's Beginning To Look A Lot Like Tax Reform: Here's What's In The Final Version

I second @James Masotti - may have better results via DelREIA's FB group. Good luck.

An FHA203(k) loan is always a viable option, however, keep in mind that this type of loan is best for owner-occupied properties. The FHA203(k) loan isn't sufficient if you're fixing up the property as an investment property. In that case, you will need to explore other options such as an HML or private lenders.

As mentioned, a couple things are for sure:

- There ISN'T a magic equation for calculating an ARV... this is mainly dictated by your local market. For instance, the adjustment value of a bedroom/bathroom scheme in one market isn't the same as another. This is where you have to mainly learn your market

- It's the most wise to use SOLD properties as opposed to LISTED properties. However, I, myself, typically look at listed properties to get an accurate understanding of how long a property has been on the market before it sold at a particular price. You could have a comp that sold for $200k and a comp that has sold for $150k, with the latter being sold in 2-3 weeks, and the preceding being on the market for 6 months (overpriced??)

- Best individuals I have found to get an understanding of the adjustment prices could be other investors at your local REIA meet up, fellow real estate agent, appraiser, etc. The market is ever-changing and so, although to me, it seems the adjusting numbers don't fluctuate dramatically, they could change with passing time.

Just a few pieces of input I wanted to put out there.

Good luck in your ventures.

Verify with Joseph Scorese but DIG Delaware Groupnis the fourth Tuesday of every month in Newark at The Green Turtle off of Rt 1 (I believe it is)

I couldn't agree with @Aaron K. any more, most of the books I've read, and from the mass amounts of research I've put in to understanding flips points towards two things: (a) Calculate based on numbers you are familiar with (ex: $X for a new kitchen, or calculate based on an average per-square-foot cost), and, (b) Understand that each area has it's own, respective, cost for improvements based on your location.

Not sure if this is what you're looking for, however, I believe that in Kent County, Delaware, the interest for a tax redemption is 15%.

Citing the following: "The original owner of the property has approximately 60 days to redeem their property. If the original owner does redeem their property, the buyer will receive their money back plus 15% of their bid. Within this 60 day period, the buyer will only hear from the Kent County Sheriff’s Office if the property is redeemed or if the sale has been overturned by the court."

Source: 

http://www.co.kent.de.us/media/866432/EDITED-Kent-...

Nice details... do you typically invest in the Dundalk or Essex areas? My older brother used to reside in these areas of Baltimore, one was a bit of a challenging neighborhood,, the other was decent, but still had some flaws. Can't remember which was which but was curious if the two neighborhoods still have the same issues.