All Forum Posts by: Account Closed

just like it ha

so, im doing a rehab and the buyer asked me to sheetrock the ceiling as part of the renovation...no problem right?  as we are demoing the drop a huge piece of plaster and ceiling come crashing down.  it was hanging by a thread...if someone was in there at the wrong time they could have been hurt.  moral of the story when buying a home with a drop ceiling, get on a ladder and look under those tiles, see what you have in there...

met with a potential client a couple weeks ago...basement was getting wet and they were scared to death that the fix was going to cost them thousands of dollars.  after touring the home and trouble shooting, i noticed the gutters were draining too close to the home.  i moved the gutters for them (for free) as the land graded down acceptably.  after a very we weekend, the basement stayed dry...

a wet basement can be costly to fix but sometimes it isn't...the right trouble shooter can look at the gutters and the land and sometimes come up with a simple fix for a big problem....

@Seyi A. Looks like a drainage issue to me. I am repairing a basement right now for an owner in a row home in Philadelphia. It's a 4-5 day project. Involves digging a trench around the basement floor and addding drainage on a downward slope from accumulation to drainage. For us this job is about 8k. But I should say it's highly variable! Good luck!

i worked as a real estate lender for 15 years.  fighting the appraisal is truly an uphill battle and if you do happen to get a higher valuation from a new appraisal the results of both appraisals will likely be averaged.  options have been stated above...lower price obv works as well as having the buyer put more down.  since 2008 the appraisals have been very conservative.  wish you luck.

can we get some details on the deal?  would love to hear more about it....price, size etc, does it need work?

i would not recommend trying to manage a project of this type on your own.  lots of coordination and organization necessary here.  a contractor and dedicated project manager, with existing relationships could prove crucial to the success of this project and by success i mean on time and on budget.  that shouldn't discourage you though if you can see it it will happen, best of luck!

hi david...relationships with local banks can be beneficial when looking to purchase properties wholesale.  Banks will have positions such as "asset recovery officer". "chief workout officer" or a specified "credit officer" who will be in charge of liquidating properties secured as collateral for loans that have not performed.  These individuals are often responsible for packaging up properties for sale and seeing that sale through.  

A relationship with a lender is key. Request a list of the Banks REO (real estate owned) properties and start there. i am currently working a deal to purchase 40 properties owned by a local bank.

Hope this helps and feel free to dm me.