All Forum Posts by: Foster Algier

Zillow Instant Offer has been testing in the Orlando and Las Vegas markets for about 3 weeks. Have you come across any potential clients who were considering using their service? Have you been able to convince them to instead leverage your expertise to guide them with their property sale? What methods of customer retention working for you?!!

The National Association of Realtors® (NAR) offers the following background information:

• The Instant Offers program, announced in late May, is a pilot test limited to two markets, Orlando, Fla., and Las Vegas.
• As a publicly traded company that has yet to show a profit, Zillow will always be experimenting with ways to generate revenue as it must placate its shareholders. The company was not created to protect the interests of real estate professionals.
• NAR's mission has always been, and will remain focused on, Realtors' business success.
• Many years ago, as part of that mission, NAR aligned itself with realtor.com to ensure that at least one portal available to consumers would recognize and promote the true value that our members bring to the real estate transaction.
• NAR cannot sponsor or encourage a boycott of Zillow. It would be unlawful for NAR to discourage members from using any product or service provider. Those decisions are made independently by MLSs, brokers and agents.
• Likewise, it would be unlawful for local or state Realtor associations to encourage members to withhold listings or business from any third party, such as Zillow, or adopt policies that would preclude members from doing so.
• What NAR can do is the same thing it's always done in the face business models offered to consumers that sell homes without the use of a Realtor. It will undertake renewed efforts to remind the public, and to encourage and help members inform their clients and customers, of the value they bring to the real estate marketing and sales transaction. It will also continue to highlight the problems and risks sellers may encounter when trying to market and sell their home without using a Realtor.

We have an equity interest in this property and are selling the contract.

http://www.FACSOLD.com/

VISIT OUR WEBSITE and click on WHOLESALE PROPERTIES to see ALL of our properties. Join our email list to receive our daily property list! REALTORS PLEASE DO NOT CALL TO LIST THIS PROPERTY. THANK YOU!

Saffron Plum Lane, Orlando, FL 32828

INVESTMENT: $298,000

ARV: $375,000-400,000 +/-

Rehab: $0-Light +/-

3 Bedrooms 2 Bath

3,213 SqFt

Built: 2005

Construction: Block

HOA: $253/qtr

Off-Market property in the hot the Avalon Park area that needs little to no rehab to get back on the market. The house was repainted inside and out within the last year. The A/C unit is less than 5 years old and the roof seems to be in pretty good shape as well. This rehab would be minor cosmetics and upgrades as desired. The property is tenant occupied. Tenant pays $2,000/month and lease ends Aug. 31st.

This property is in the award-winning Avalon Park area of Orlando with ***HIGHLY RATED SCHOOLS***. It is conveniently located close to the main campus of UCF, Valencia, Research Parkway, Medical City, Lake Nona, and Burnham Institute. Avalon Park features community parks, swimming pools, tennis and basketball courts, banking, shopping, dining, fountains, waterways, top rated nationally recognized schools, and is a neighborhood designed with biking, jogging, and walking in mind.

This property is occupied...please do not disturb tenants. Call 407-668-4396 to schedule a viewing.

All properties require cash or a private/hard money loan in order to purchase. No conventional or FHA financing available unless otherwise indicated. All inspections must be completed prior to buyer signing the contract. Buyers will need to provide a $3,000 non-refundable deposit at time of contract. Seller will convey using an as-is contract, clear and marketable title with a warranty deed. All closings are with a licensed title company with Insurable Title.

Buyer will be responsible for all closing costs unless otherwise indicated.

Foster Algier

Broker - Gold Key - G.R.I.

FLA Real Estate Services

Everyone in the industry knows that the vast majority of FSBOs end up listing with an agent. Why FSBO is ineffective for most people doesn't matter. What matters is those are your potential listings! A few key changes in your approach to FSBOs will make the difference in adding another home to your inventory or walking away empty handed.

When a FSBO is talking to an agent/wholesaler, they want to know one thing: Do you have a buyer for my property? You’ve probably been taught to say yes. But how do you know before you’ve even started marketing a property?

When a FSBO asks if you have a buyer, consider answering: “I might, but I won't know without seeing your property first. I work with many buyers, and as an expert in this area, I pride myself on knowing the inventory, which includes your property. It turns out I’m going to be in your neighborhood tomorrow. Would you be offended if I stopped by to take a quick look to see if your house meets the needs of any of my current or future buyers?” Once you see the FSBO’s house, it’s important not to sell them on listing with you unless they approach the subject. The point of your walk through is not to land a listing; it’s to build rapport and know your inventory. Tell the FSBO that you will mention the house to some of your buyers who may be interested. Then say, “Regardless of whether my buyers are interested, you need to be aware of other listings in your neighborhood that are competing for buyers so you know what you’re up against. As an agent, I typically find out about new listings and other properties before the public does. Would it be OK if, from time to time when a property comes up that I think competes with yours, I contact you and let you know about it so you aren’t caught off guard?” Any serious seller will welcome having access to this kind of free information.

By getting a “yes” to that question, you just got permission to follow up regularly. Set up a reminder in your calendar and stay in touch!

What's your take on this report? Do you feel the inventory squeeze in your business?

"Orlando homes are selling at the quickest clip since the red-hot market of 2005," says ORRA President Bruce Elliott, Regal R.E. Professionals LLC. "Not only is the area's 2.30 months of supply statistic at its lowest point since September 2005, nearly 30% of those homes sold in May came under contract after less than eight days on the market."

Orlando home sales increased 14% in May compared to May of 2016 while the median price jumped 7%, reports the Orlando Regional REALTOR® Association (ORRA). Inventory continued its year-over-year slide and dropped by 16.8%, but a small relief was found in the 1% increase in the number of homes available in May compared to April.

Orlando’s overall median home price (all home types combined) is $218,000, which is 7.4% above the May 2016 median price of $203,000. Year-over-year increases in median price have been recorded for the past 70 consecutive months; as of May 2017, the overall median is 88.7% higher than it was back in July 2011.

We have an equity interest in this property and are selling the contract.

http://www.FACSOLD.com/

Please visit our website for more photos of these properties http://www.facsold.com/show_listing_details.php?prop_id=36334

VISIT OUR WEBSITE and click on WHOLESALE PROPERTIES to see ALL of our properties. Join our email list to receive our daily property list! REALTORS PLEASE DO NOT CALL TO LIST THIS PROPERTY. THANK YOU!

Vine Lane, Lakeland, FL

INVESTMENT: $93,000

ARV: $107,000 +/- Each

Rental Income: $2,700 +/- month

ARV Rehab: $30,000 +/- Each

3 Properties...each with 2 Bedrooms 1 Bath

936 / 984 / 1,067 SqFt

Built: 1955, 1958, 1966

Construction: Block

HOA: $0

These properties are located in an established neighborhood steps away from Lake Parker. Two of these homes have large fenced in yards. All three are convenient to major roadways for an easy commute. This package deal is the cheapest price per door at $31,000. Approximate ROI is $101,600 profit as a package for a flip. Buy & hold cash flow of $2,700 +/- monthly.

1 0 2 0 Vine Lane Lakeland, FL 33801 is the nicer of the three and will need less to get rent ready. Kitchen, bathroom, roof and fascia board, A/C, paint, flooring, and landscaping.

1 0 3 3 Vine Ln, Lakeland, FL 33801 Will need everything listed above plus windows, doors, and masonry work on the carport. Adding a bedroom to this home would help.

1 0 4 4 Vine Ln, Lakeland, FL 33801 will need a full rehab and there is plenty of room to add a third bedroom.

All properties require cash or a private/hard money loan in order to purchase. No conventional or FHA financing available unless otherwise indicated. All inspections must be completed prior to buyer signing the contract. Buyers will need to provide a $3,000 non-refundable deposit at time of contract. Seller will convey using an as-is contract, clear and marketable title with a warranty deed. All closings are with a licensed title company with Insurable Title.

Buyer will be responsible for all closing costs unless otherwise indicated.

Foster Algier

Broker - Gold Key - G.R.I.

FLA Real Estate Services

We have an equity interest in this property and are selling the contract.

http://www.FACSOLD.com/

VISIT OUR WEBSITE and click on WHOLESALE PROPERTIES to see ALL of our properties. Join our email list to receive our daily property list! REALTORS PLEASE DO NOT CALL TO LIST THIS PROPERTY. THANK YOU!

Strain Boulevard, Lakeland, FL 33815

INVESTMENT: $39,000

Rehab: $10,000-12,000 +/-

Rent: $750-850/month +/-

3 Bedrooms 2 Bath

1,015 SqFt

Built: 1957

Construction: Frame

HOA: $0/mo

Great income producing home, possible 2x1, with lots of potential, needing just a bit of TLC to make it a nice cash flowing home. Good size home with vaulted ceilings and spacious rooms on a large corner lot. The kitchen will need a bit of work, as well as bathrooms. Some drywall repairs, paint, and minor cosmetics needed. Tile floors throughout most of home appear to be in fairly good shape. Windows are original but seem good with window a/c units. The roof is older but no leaks are apparent. Electrical seems ok. Outside siding needs a good clean/paint, with some minor trim repairs. Yard only needs a basic clean up and trim...the fence is in good shape. There is an opportunity with the detached garage to rent it out separately with a light conversion, some painting, and cleaning.

This property is in a central location. McKee Academy of Technology school is a short 3 blocks away. Location is very close to other schools, shopping, and major highways. Downtown Lakeland is only a few minutes away. Lots of new development going on in the area.

All properties require cash or a private/hard money loan in order to purchase. No conventional or FHA financing available unless otherwise indicated. All inspections must be completed prior to buyer signing the contract. Buyers will need to provide a $3,000 non-refundable deposit at time of contract. Seller will convey using an as-is contract, clear and marketable title with a warranty deed. All closings are with a licensed title company with Insurable Title.

Buyer will be responsible for all closing costs unless otherwise indicated.

Foster Algier

Broker - Gold Key - G.R.I.

FLA Real Estate Services

ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, released its Q1 2017 U.S. Home Flipping Report last week, showing that 43,615 single family homes and condos were flipped nationwide in the first quarter of 2017. This reflects an 8% decrease from the previous quarter and a 6% decrease from a year ago to the lowest number of homes flipped since Q1 2015 - a two-year low.

Home flips in Q1 2017 accounted for 6.7% of all single family home and condo sales during the quarter, up from 5.8% in the previous quarter and unchanged from a year ago.

If you're in the business of wholesaling, does your experience reflect these changes?

We have an equity interest in this property and are selling the contract.

http://www.FACSOLD.com/

VISIT OUR WEBSITE and click on WHOLESALE PROPERTIES to see ALL of our properties. Join our email list to receive our daily property list! REALTORS PLEASE DO NOT CALL TO LIST THIS PROPERTY. THANK YOU!

S Carolina Ave, Avon Park, FL 33825

INVESTMENT: $25,000

ARV/Rent Rehab: $20,000+/-

Rent: $650-750 +/-

2 Bedrooms 1 Bath

600 SqFt

Built: 1950

Construction: Block

HOA: $0/mo

Off-Market and Inexpensive Avon Park 2/1 Block Cash Flow Rental. Rents in the area for a 2/1 go for around $650-750 +/-

Repairs:

Exterior Paint: $1,200

Replace window(6): $1,500

Replace Bathroom: $2,700

Interior Paint: $900

Upgrade plumbing: $2,800

Replace Kitchen: $5,200

Appliances(Refrigerator, stove, dishwasher, microwave): $1,897

Hot Water Heater: $550

Yard Landscaping: $1,500

Window Unit AC: $1,500

Heating/Electric: $2,000

TOTAL: $21,747

All properties require cash or a private/hard money loan in order to purchase. No conventional or FHA financing available unless otherwise indicated. All inspections must be completed prior to buyer signing the contract. Buyers will need to provide a $3,000 non-refundable deposit at time of contract. Seller will convey using an as-is contract, clear and marketable title with a warranty deed. All closings are with a licensed title company with Insurable Title.

Buyer will be responsible for all closing costs unless otherwise indicated.

Foster Algier

Broker - Gold Key - G.R.I.

FLA Real Estate Services

We have an equity interest in this property and are selling the contract.

http://www.FACSOLD.com/

VISIT OUR WEBSITE and click on WHOLESALE PROPERTIES to see ALL of our properties. Join our email list to receive our daily property list! REALTORS PLEASE DO NOT CALL TO LIST THIS PROPERTY. THANK YOU!

Shady Lane Drive, Orlando, FL 32804

INVESTMENT: $325,000

ARV: $225-260/SqFt +/-

ARV/Rent Rehab: $95/SqFt +/-

Rent: $1,700-1,900/month +/-

TBD Bedrooms TBD Bath

TBD SqFt

Built: TBD

Construction: TBD

HOA: $0/mo

The house sits on a large lot which is already in the process of being split. The seller has submitted plans to the City to tear down the house, split the lot, and build 2 new houses. The municipal planning board has agree to the split...they will recommend to the City Council to sign off on it at their next meeting on June 19, 2017.

The seller will hand over the plans for the 2 new houses and they are builders and they can handle the building aspect if you choose.

Single lots in College Park sell for $200-225K/lot +/-. With this deal you can own 2 lots for $325K!!.

All properties require cash or a private/hard money loan in order to purchase. No conventional or FHA financing available unless otherwise indicated. All inspections must be completed prior to buyer signing the contract. Buyers will need to provide a $3,000 non-refundable deposit at time of contract. Seller will convey using an as-is contract, clear and marketable title with a warranty deed. All closings are with a licensed title company with Insurable Title.

Buyer will be responsible for all closing costs unless otherwise indicated.

Foster Algier

Broker - Gold Key - G.R.I.

FLA Real Estate Services

S&P CoreLogic Case-Shiller recently released their National Home Price NSA Index which showed that home prices rose at 5.8% annually in March, representing a 33-month high. Their 10-City Composite posted a 5.2% annual increase and their 20-City Composite reported a year-over-year gain of 5.9%. Seattle, Portland, and Dallas reported the highest year-over-year gains among the 20 cities. Ten cities reported greater price increases in the year ending March 2017 versus the year ending February 2017.

What do you think? Are we racing toward another bubble/burst scenario? Or is this sustainable growth of property wealth??