All Forum Posts by: Gary Marcotte

@Cinthya Jones

Hi Cinthya, the product I used was professional grade and worked great.  If you'd like the info you can shoot me a message in my inbox and I'll give you the contact info.

@Ethan Bruland

Sorry Ethan for the delay in responding.  I don't know if you've closed on your property or dealt with the urine issue.  If you still need info, shoot me a message in my inbox and I will hook you up with the contact info.  The product I used was professional grade and worked great.

 Kim, I haven't reached out to him yet.

Thank you Ann. I appreciate the referral. 

Does anyone have a CPA they would be willing to recommend that is experienced in areas of Real Estate tax law?  I am in the Northern MA/Southern NH area.

Thanks

Yup, cutting back on your ARV from 70% to 65% might be a good idea if you think the market will decline by 5% in the next few months. There are so many other factors to consider - from personal risk tolerance to your market conditions in Montreal to how you are leveraged currently.

I've heard of some rehabbers slicing their margins down to 15-20% in certain markets here in the U.S. We are having a terrible time with "over priced" REO inventory and banks not budging too much off their asking prices, even when they have been on the market for 6 months. Going too thin on your margin can be troublesome if you are not dead on with your numbers going in to the deal though.

Risk/reward!!!  Go for it!

Thanks all.  I will be removing all flooring, carpet, tile etc... so I will check the sub-floor, baseboards, lower sections of drywall etc for visual staining.  This will make it easier to apply Kilz using a sprayer.  I just want to avoid "masking" the smell.  I want to eliminate the bacteria causing the odor.

I have a HUD home under contract and when I did my initial walk-thru there was a heavy pet odor in the house. Not just musty dog smell but a stronger one, like urine. Not sure if it is dog or cat or both. I believe it to be all the way through to the sub-floor (plywood). Was wondering if anyone has a remedy or experienced any trial and error ways of getting rid of it? I'd like to avoid a costly "professional" cleaning if possible and/or a lot of trial and error of my own.

Any help would be greatly appreciated.

@Heather C. 

Yes that must be frustrating for you. I get frustrated on a weekly basis dealing with banks. True example - I offered $175k on a REO back in Oct 2013. Bank didn't take it. I checked back on the offer every couple weeks for about 2 months and then gave up. I came across the same listing in April 2014 (6 mths later) and it had been sold for....guess what price??? If you said $175k you would be absolutely correct. I was pretty irritated. This is not an isolated example either. Banks can sit on properties for a very long time, they have deeper pockets than I do.

Thanks for weighing in.

@Heather C. 

Are you responsible for the BPO Heather?  Correct me if I'm wrong but doesn't this play a large part in determining the asking price for the bank?  I mean I understand if the BPO comes in at $40k and the bank is looking to recoup $80k, then there has to be a meeting somewhere in the middle, I would assume?

Also, let me know if maybe I should start a thread on it's own regarding this topic.  I don't want to hijack Edwards thread.