All Forum Posts by: Jeffrey Hotz

Why would you look at others!? 

Sorry, cheap plug really 😜

Not an LLC, and partnership where 1 member is in OH, so that wasn't the case.

My post was simply an observation about what I feel was happen in my situation.  Maybe doesn't relate, and I'm certainly not an attorney. 

Probably that your attorney has a financial interest in you creating an entity in CA. I had a recent situation similar to your where I established a partnership between myself and someone in OH. Attorney wanted it to be an IL Corp and said if I decided on OH he would have to refer me to someone he knows there. Made my BS meter go off big time. Isn't it interesting that the best option for you is what puts the largest $$ in their pocket. I don't ever believe anything anyone ever says in this industry.

That house has been on market for 80some days at 25k, so not ARV. Needs gut remodel. Not a deal

Anna, I have an option for you. I know they don't lend in Cleveland (cuyahoga county) but sure Columbus is ok. I often am able to find property where I can cash out refinance after rent rehab with almost no seasoning. I like to stay under 65% leveraged, and have a few assumptions I use in order to know it's sold cash flow on the back end. It's a strategy I've used now for a few years and have a few lenders that will lend under 75% based on ARV, 30 year am. Message me and I can share contact.

Stephen Cole "steve buys ugly houses" is absolutely trademark infringement.

@Rob Orazi those signs on the side of the road are called Bandit signs and illegal, if they says "we buy Ugly Houses" on them it's trademark infringement.  HomeVestors of America, Inc. corporation behind the "We Buy Ugly Houses" brand does not put bandit signs up, and I agree they are unprofessional.  We have full billboards and national TV advertising, plus an exceptional direct mail program.  We're a top 50 franchise company and have bought and sold over 75000 homes on the past 10 years.

I am a franchise HomeVestors of America the "We Buy Ugly Houses" guys and can say that the term "Ugly" works, unfortunately you have to be a franchise to use it.  Were a 786 office national presence and our legal department does strongly enforce and protect that brand.

Don't use "Ugly" 

Yea, you have to be carful there, a larger home doesn't mean higher value ppsq. Sometimes you can find homes that have sold above the average sqft and figure how much the ppsq should be above the average, then calculate out. So for example it may be that 1000sqft homes sell around 100 a sqft, but 2000sqft homes sell for 125 a sqft. The additional 1000sft is only worth $25 a sqft. Makes sense? I'd always go conservative on something like that and never assume an increase in value based on the additional size. I can run some figures if you want, let you know what I think. Message me with address.

If your planning on keeping as rental, ARV doesn't make a difference. What is the projected rent amount and taxes? Contact me and we can chat more if you want.