All Forum Posts by: Greg Brown

Thanks Julie, for the tips

What are your thoughts on self designing home renovations for resale vs working with a professional designer?  It seems simple enough to just look at pictures of recently sold comps in your market and emulate what you see either on your own or with a contractor.  Though looks can be deceiving as always.  

Hi BP,

Getting started with my first purchase and it is a short sale. It's been on the market for over 200 days. A deal fell through and now it's back on the market. I wish I could find out why the last deal fell through. Bank approved price of 145k. After reading some BP posts, I concluded that bank approved price doesn't mean much, so I offered 140K. My realtor said that increasing my EMD doesn't make my offer any more appealing. The seller accepted and now the waiting game begins. The property is 1650 sq ft 3bd, 2ba next to a military base. Interestingly, the current owner has a bunch of things still in the house. You can tell they left in a hurry. It's kind of sad.

The place is in decent shape inside and out, it's been sitting without utilities for over 100 days which is a concern to be evaluated during inspection, if I make it there. The goal is to live in and remodel for 6+ months then sell for 175-185k which should be doable given the comps.  I've read that Chase implemented a 30 day short sale evaluation policy as of late 2015.  Has anyone seen that to be accurate?  

Awesome job @Matt Jones  How far off was the purchase price from the homepath asking price?  I'm assuming you did not purchase during the firstlook phase?

Thanks @Jack Butala, @jay.  This forum is so robust I've been able to search and answer every question I've had so far, even pretty timing specific questions.

Hello BP! Long time lurker here and I finally took the plunge to join and start my REI journey. I've been building my knowledge of the industry for a solid year now, minored in RE in college and am looking forward to the mountain of new learning opportunities. Moving from NYC back to my small hometown in the florida panhandle and plan to execute a 1 year live in REO flip or hold the property as a rental. This site is such a wealth of information and I would like to Thank every contributor. Soon I hope to know enough to contribute as well.