All Forum Posts by: Jason K.

There is no room for expansion. There are other remodels for sale in the neighborhood that have better baths but are listed for more than I would be. I'd be the cheapest house in the neighborhood right now. What do you think?

From your experience, do you avoid deals with small master baths AND small master closets?

I haven't done a flip without nice master features and am concerned that this will be the deal breaker for most wives or couples. (one sink/toilet/shower-tub) Even though I'm replacing hardware/countertops and tub/tub surround, I'm thinking the size alone will be a deterrant.

Everything else about the house checks out fine budget wise/ARV/etc and the home has great curb appeal. Just that dang master bath and closet!

To clarify, this is a two story home all bedrooms up. Carpet will be upstairs and I'm trying to decide exactly what I'm using downstairs. Approx 900 sq ft. I plan on using tile in at least the kitchen, breakfast nook, half bath, but wanted to put wood in hallway, formal, and living. What do you think? Should I just go all tile?

I agree. But who is to know what my buyer is looking for. Wouldn't you want the more valuable flooring, even if the neighbors were using carpet and tile? Why not offer a more valuable property for the same price, when I can?

I'm trying to decide dark bamboo floors or dark hardwood floors (same price per sq/ft)...

I'm in Houston, so humidity does play a factor. Which would you go with?

Suggestions? I'm not a big fan of laminate.

The target neighborhood does not have heavy evidence of a trend of wood floors through recent comps, but I think this addition would make for a quicker sale due to the fact. It does fit the budget. ARV = 130k

Thanks!

Not at all. I either have the listing, or the purchase contract. I don't sit around on a listing, waiting to pounce on my client with a contract written out for 30% of my listed price. After their decision, that's IT. That's a ridiculous proposition. Cmon man, seriously? Who are you watching?

My allegiance is to my client if they choose to list with me, do not misunderstand me.

If you want to blow it out of proportion, or you've been sold snake oil more than once, I am very sorry. You've got it twisted this time I think, my man.

I'm not a broker, I'm a realtor. Per your advice, you'll suggest I shouldn't become a broker because I will assume more responsibility. Ha.

If you aren't looking for trouble, you normally don't find it.

Thanks Scott, that's a great point! A few years ago, when the market started to collapse, I found my niche in representing investors and offered them a discount listing opportunity for the sell. After awhile, I realized I was making peanuts compared to the profits they were making. I slowly began to make the transition, and I thank this site for alot of FREE great info. I guess this a testimonial for Josh's article!

Best wishes.

I still haven't mastered the advanced quote reply so here..

"When wholesaling, I separate myself from the seller (FSBO) and recommend they use a listing agent. If they choose not to, then I have them sign an acknowledgement stating I otherwise STRONGLY encouraged them to do so. "

From this -- I'm assuming you a licensed? If not, why do you choose to do this? You're there to help the seller and make a profit yourself. Why give them other alternatives, barring you are not licensed?

There are many investors with licenses. It's common. You rep yourself in the buy, and pay half commish when you sell. It's a smart idea.

Sure there are endless scenarios that COULD play out, that's life. I don't necessarily feel we need to expand on the negatives, when the positives are much stronger. You can pick at anything and turn it into a negative.

But like you said, all it takes is one time, so you have be ready for it, and accountable at all times. And when you're in RE school, you're brainwashed that over and over.

Your last line says it best. "Better safe, than sorry."

You better have your ducks in a row if you want to carry a license and flip for a profit! And most of us do, we aren't all that bad! :)

If you want to seem like a sneaky, clever agent trying to turn a profit on a vulnerable seller, then yes you probably will be questioned and looked at. If you present yourself as a professional with solutions, you are respected. Make it how you want, you're in control. I prefer the latter.

Scott, great insight. I have a few points here that I'd like to pitch in about agents wholesaling..

A few things of note:

*When going into an appointment (FSBOs), I know that I can either walk out with a listing or a purchase contract. I explain both, and break down fees associated with listing it @ "highest and best price" vs. buying it now. I can't go in and list a property at a steep discount, because I'm not doing my due diligence to the seller. If they need to sell NOW, well they have that option too. I show proof of funds and explain and/or assigns and also follow up in an email that they DO understand everything so I don't have an "ignorant seller" , so I've got documentation. I file away. Document & Disclose.

They don't really care if it's you or Joe Schmo from Kentucky that closes on the property, as long as it closes. . they usually are not alarmed with the and/or assigns tag. I've got more cards to play because I have a license. If they'd rather "try" to list it first to "see", well more power to them and good luck. I'm happy to be your realtor.

*If B isn't in the transaction at all, the seller may never sell the property @ all. Who's to know?

*your quote -- "When B is an agent, encouraging the listing agent......" -- Yes, if B the agent encourages the listing agent to get this deal done because she will get double commission, then obviously a line has been crossed. If B strictly notifies LA about a "possible" dual agency if in fact I AM NOT the purchaser. There's no swindling this way. I guess it's the way you make it come across. But like we have all said, those of us held to a higher pedastool realize that, thus we are more careful than if I was just an investor. You rise to the occasion.

We all walk in a different light, some brighter than others, that's what you signed up for!