All Forum Posts by: Jason S.

As soon as investors understand that they are not the center of the universe.

Putting the $5 fee aside as Will mentioned.

I do not specifically know what bad behavior on the part of BofA, the bad behavior over and above the other banks, you guys are referring to.

To me I am boycotting Dell computers for Dell's part in One West - that was/is a scam through and through.

all of this bofa hate.

$5 fee is for a debit card because the Govt took away the fees they were charging to the merchants. Let me know when your local merchant reduces their prices as a result of this.

Maybe you should be mad at the merchants too.

I do not get the advice here.

He has the network. The only thing he did not mention was if he had an expert, maybe himself, in valuation. There is 100% Hard Money, no pymts required, available in TX. He said he know it would be expensive, which it is.

But why wholesale at that point?

Yes there is HM in TX for 100% financing with your credit score. PM me for help.

I really think that each bank is bad as each other bank. At least that is true for the larger ones.

Agree with Mike.

Also, do not believe in the $350K re-sale, but that was on a 1 minute review and using the old sq footage of 1235, I guess they expanded it, unless you are very familiar with the area and know that is a premium you will be getting for new. You absolutely need a neighborhood expert on this one, actually on every deal, but especially ones like this.

Looking at the interior pictures I do not see $50K work though but those pics are from 2008 - but it was bare studs back then. Looks like at some point they went from 1235 sq ft to 1435 - how complete is that extra portion?

Jon - very true on the %'s in SoCal. No way at 65% unless you are connected to the deal/Realtor etc somehow.

Karen - very true. You need to verify what is covered with the TTEE sale etc - if this was even taken to sale or not. I do not remember if it was REO.

Jon again - the busy street is a concern - but I will tell you that I used to live in Northern California. A busy street, freeway noise, all of that was a big deal and no one wanted it. But I have not found that not to be a major concern in SoCal. It is undesirable and is a concern, but not as big a deal as it was in Northern California. It really is strange, but I have worked with homes that back a freeway and a lot of people do not seem to even notice it, or care, not the local Realtors, not the Buyers. It is a factor, of course, but not like in other areas.

Status of permits?
You could build that house for $60K.
Looks like low trim level required.
That work can be done for much less - assuming low trim level.
Prices in that area - are you certain? I do not see your numbers as being very strong for resale - How about $320K-$330K - is the extra over and above nearby comps for the premium for all new? If you say yes, then I can see that, if you know the neighborhood will carry it, just checking to see your thoughts.
Would be concerned about external obsolescence as listed earlier - see how comps affect.

I would research those numbers about 100 times over and over before committing to anything. That's what I do. My opinion above is just from a 2 minute look.

There's a lender in NV (few other states too) that will do with $0 down and I believe they have a longer term tenant loan also. High fee, but what do you expect in NV.

Message me.