All Forum Posts by: Edward Hooks

Trying to put an offer together for a BANK OWNED Property in Castle Rock.
Public Trustee Sale December -2011 WELLS FARGO takes Title
January 2012 WELLS FARGO transfers Title to FANNIE MAE

June 2012 - Occupants still there, and allowed Scheduled House Showing.

Bank Counter Terms say they WONT GUARANTEE POSSESSION on Closing Date!

Whats Going on here?

Not sure Time Matters that much, but you do want to refresh the ad within the Craigslist Posting limits so Browsers are not diving too deep to find you.

My last post to craigslist on Thursday at 10:35pm had a great contact by 11:36, but as Mike says content is king.

I should NOTE, that I am not disrespecting the MLS, per se, but MetroLIST in Denver DOES NOT SUPPORT RENTALS - Do a Realtor.com search for Rentals in Denver and you get Zipppppoooo.

Like Greg we have a MAIN Site at ineedthishome.com where we do Youtube videos from up to 200 photos AND we maintain move properties from Featured (available) to Currently Unavailable with Lease Rate and Expected back to market date.

We capture quite a few tenant prospects that like us at showings of properties that are not exactly right - and frequently have a list of folks in mind when we are interviewing New Landlords.

As you may recall from the Awesome Conference Marketing Panel, We Lease and Manage Great Homes and are creating Raving Fans on both sides of the Leasing Table.

WE use VFLyer.com to develop the Ad Content, and blast it out to Rentals.com plus Hotpads.com, Zillow.com, Trulia.com and others but Our current trend for Ringing The Phone on SFH's DENVER AREA:
Rents above $1500/mo RENTALS.com,below $1500 CRAIGSLIST

This one scares me "I almost never received a total month's rent for my property. "

I would ask for a few (min 3) CURRENT Real References to interview, and be prepared with real questions about quality of Tenants and some of the allegations such as Keys-remotes stories.

Trust-but-Verify,Verify,Verify

Josh your $2000.00 would have been better spend on a trip to the Bigger Pockets Conference in Denver last week.

One of the speakers at the conference that is active here and twitter you may want to follow is @TahaniA - she is an Agent that focused on Investors. I picked up her all-profits-to-charity book recently released and find it interesting as an Agent focused on Property Management her in Colorado.

My Plan
Commercial Liability Umbrella
Small ($100k) each Structure
RENTERS Insurance Requirement + Landlord Named In Policy

An LLC offers little protection unless you are making individual Companies for Each Property, in addition expanding overhead, accounting I believe the veil will be pierced anyway if enough money is involved.

Delivering Safe and Code Compliant product is the starting point, or no amount of Premium Payments will return anything.

ED O and ANDY are both right on. The Dodd-Frank manipulations to Appraisal Landscape with Management Companies being created to slash appraisal fees is a disservice to both the Practitioner AND the BUYER - but is IS allowing BANKS to have a new PROFIT CENTER...

I recommend taking the R E License route. You at least will have a couple of Points more Discount from your Commissions on the BUY!

You will also get deep enough into Appraisal Methodology to Understand How the numbers are derived - which is what you want to know for the SELL.

At the Conference Last Week Kevin Amolsch presented his perspective on HML (Google his name with PINE ). IF I understood him correctly, An interesting twist in his model I found was that as part of his HML process he gets REFI pre qualified to know if the deal will fly once rehabbed.

I would check in with him, I am sure he would be happy to speak to you even if you are not in Colorado or Minnesota where he is licensed.

I'm inclined to agree completely with Michael, however; (always a however right) -After experiencing D.Scott Smith Presentation (Forecasting Demand) at the Awesome First Ever BiggerPockets Conference...
I would look for Future Demand Clues to see if there is a reason ALL OF THESE DEALS are hitting you at once.