All Forum Posts by: Antonio Lombardo

You need to reach out to your local REIA coordinator. They have email addresses for every member and will let you blast a mass email to them.

Get an agent to pull public record for you (or title company) for all recent cash purchases in your area - there's a good chance some of them are investors. You can call 411 and get their phone numbers or mail them a letter, but you don't have the luxury of much time..

In a pinch if sellers wont let you back out of the deal you could throw a sign in the front yard.

Call every family member & friend you know that MAY qualify for a mortgage.

How bad do you want the deal?

It looks to me like you're probably ok with this one.

You will be making a "low" offer so make a lot of them and hold your ground. Once you feel confident you have a strong buyers list you can loosen up a little bit on your offers.

Double dip w/ listing agent every time, even if your licensed.

Best of luck!

In Michigan, build costs range from $100/sqft to $130/sqft. I know your labor and supply costs are both higher but $150/sqft should be very reasonable.

I tied up a home in Birmingham, MI and plan to add square footage and renovate for sale. House has 890sqft basement so I figured I could yield 1,800 sqft going straight up. The cost I estimate for this is $130,000.

The GC recommends building out the back of the house on slab to increase livable square footage to yield 3,000+ sqft. His estimated cost is $180,000.

If you've had experience building out, does this sound reasonable? Obviously my margins are significantly better over 3,000 sqft (retail sale comps $200 to $250/sqft).

You have a lot of options. I always like eye-catching neutral colors. I'm not a decorating pro though.

Sherwin usually offers a color consultation for free if you purchase $50 in paint.

I've also hired women that work at Home Depot to pick out color and inventory. Best bet is to have your staging person or cabinet person help with color/supply. Find someone with a good eye!

I often price in uncertainty in my offers. The more uncertainty, the wider the margin.

I just had a vacancy come up on a rental in an area that calls for a tight budget. I like to have the best houses in the market and was wondering if anyone has explored inexpensive, unusual back splash options for the kitchen?

There's wallpaper behind the counter top now and I'd prefer go right over it. Funny how a new Formica counter top can be just as expensive as a 50 sqft back splash!

If you're having a hard time getting rentals to work, you'll have an even harder time finding a good flip. Where are you two looking for your inventory?

Thanks Will!

Brandon, thanks for the tips. Site has come a long way since I first started using BP!

I'm 26 and purchased 2 high-end condos cash. I'm glad I did this because I bought REO assets at just the right time and make a killing cash-on-cash, all cash! I also don't have the potential stress leverage can bring. I'm now seriously considering liquidation to purchase a multi-unit with the stability of multiple tenants, property management, and building a lot more equity.

Still hunting for that right deal worth trading the loss of sleep that will come with it.