All Forum Posts by: Greg Grant

I've been using Mathieu Accounting for years.  He was able to straighten out a mess for me that was caused by another accountant years ago and I've used him ever since.

Here's his site - http://www.mathieucpa.com/

He is in Oakland Park, but most of the time I email him or discuss things over the phone.

@Simone Kelly

I have a few questions.

-What is in the backyard?  There appears to be some kind of structure.  

-Is it a separate rental building?  

-If so, is it legal?  

-And does that account for the 3/2, or is the main house a 3/2?

-Do you have any pictures?

@Zana Blue

DOM = Days On market 

How long a house takes to sell after being listed

@David Midgett

Thanks David.  That explained it very well. 

I've been using the 70% rule simply as a guideline to see what is 'reasonable".  I just wasn't sure if there was something I was missing in regards to what they bought it back for.

Probably a newb question, but it's been running through my head alot.

When I am searching properties I pull up various sites to gain information on the property and one of those I use is zillow.  Not for any specific reason, just because I have noticed different sites can have different advantages.

Anyways, when I pull up a foreclosed property on zillow it will say a brief history of the owner being in default, notice being given, then the bank taking possesion of the property.

When the bank takes possession, it will say something like:

12/30/15 - The lender, XYZ BANK, assumed this property for $90,100 during foreclosure proceedings and now owns it.

#1 - Now does that mean the bank is "out of pocket" $90,100 and/or that is what the previous owner had left on their mortgage?

#2 - Is that where I should start with my offers to buy the property?

#3 - Or is there a rule of thumb that applies here?

I fully understand that with other investors involved the price could go higher than my starting price/offer.  I'm just trying to seeing what a fair and realistic starting point would be.

Because what I've seen is that the bank will have the same property listed for $160,000, when comps fully remodeled (by an investor) sell for $165,000.  And the house needs an easy $20-30k.  

So I've been thinking that this is the bank trying to maximize their income by overpricing it hoping to get a potential new owner to pay just under retail or catch a newbie investor in order to make some money back from deals they lost on.

What Robin said is great advice.  

In addition to that go to the Education tab at the top of the page and use those resources instead of paying someone else for the same education.  There are many videos, blogs, and even a complete course for you to learn from.

As a bonus to get her out, maybe offer to pay for a moving company to move her belongings for her (within a certain area, not cross country).  

On the slim chance of them being legit (even though they aren't acting that way by refusing access to you), perhaps that would help motivate them to get out.

I'm looking for some suggestions/referrals for contractors in South Florida that I can use for a flip.

Preferably someone that has connections for everything that may come up (plumbing, a/c, stucco, roofing, etc..

I am mainly working in the Broward area.

Just sent you a message

Underwater "financially", well that depends on many factors.  Underwater in regards to flooding, people have been saying that for decades.  Just like 20 years ago, California was suppose to physically separate from the mainland US.

Like it was said above, we have a large canal system down here to compensate for any threat of flooding.  I've seen the same stories of how the oceans are going to cover 70% of Florida, but like I said they have been saying that for years and when their timelines are proven wrong, they just add 15-20 years to them.