All Forum Posts by: Jean Bolger

If you do get your license, you'll have plenty of interesting photos of your own. My favorites are the armless mannequin I met in the dark cellar and the room full of severed heads (OK, they were animal heads, and they were stuffed, but it was still freaky AF)
FYI if there are known material defects with a property (foundation, etc) then brokers/sellers  in CO are required by law to disclose. So if there is a  foundation issue in that house (I don't think I'm seeing what you're seeing in that photo) then it will be in the seller's property disclosure, or if it comes up in the buyer's inspection then the buyer can choose to walk or renegotiate the price. 
Remember, money is made in real estate by solving problems. If you go into your search looking for a house that has no problems, then you are thinking like a retail buyer and will pay retail pricing. As an investor, you WANT that minor foundation problem, or that cat-pee carpet, or that ugly decor. So maybe your agent is right.

Frankly? I think many listing agents put "investor" in their listing as a code word for "don't bring your picky retail buyer, they won't like it". They're not actually doing the math on the property as an investment. 

Still, your comment piqued my interest so I looked this place up. I hate to break it to you, but  it seems like a quite good price per square foot based on the few recent comps in the immediate area. Amazing, I know.

If you are looking for humor of the grim real estate listing type, I highly recommend checking out the awesome  http://terriblerealestateagentphotos.com/
just don't try to drink your coffee while you read the captions 

I'll just googled GC and this is what came up under grantcardone.com:
" Grant Cardone is a New York Times bestselling author, international speaker, business innovator, social media personality and top sales trainer in the world."

"Real estate investor" doesn't appear on this list. That's not to say he doesn't invest of course, but his main focus may be selling those books, etc.

Yes, you need to keep expanding your thought processes and vision. And yes, you'll occasionally have to stretch past your comfort zone. But if you are like most of us, getting into those first few properties will be enough of a stretch for now!

well, I don't know if you're an idiot to buy your house, lol . Having an adamant stance helps sell books, and that is what GC is trying to do. There certainly are situations where the right buy on a SFR could beat the returns you'd get if you bought a duplex. And there are tons of other variables involved too. Some things to consider, perhaps:
It's hard to break even selling a place bought at market value in six months. What's the worst case scenario if you hold it a while longer? If you ditched it today, and bought a duplex , how quickly would you make up the money you lost? How quickly are houses appreciating in your market? Without profit from your current house do you have enough funds to get into another property?
As far as commissions, yes they are negotiable. You do get better service when you pay more, frankly, but in some hot markets a low-cost listing service can probably do a decent job for you. You might talk to the broker that helped you buy the house and see if they'd do  reduced listing fee  if you also used them to buy the next place.

Surprised that no one has mention Houzz. They have some awesome deals on fashionable finishings. My shower door installer was gobsmacked at the low price I'd gotten on the fancy shower door for my last flip.

Best thing is, they have an algorithm that matches what you look at. So if you see a cool $200 light fixture, and it brings up a $100 light fixture that is almost the same design.

Property is C class but very solid. Five single story brick buildings, units are one bedroom with basements (29 total). Current leases are at $550, new lease-ups are going for $600. Great location, stays 100% occupied with just a banner out front as advertising.
Under professional management. Has been extensively renovated over the last 4 years. Most of the work is done at this point, should provide solid cashflow in a rapidly appreciating market.

Similar units in Columbus are selling for around 40k/door. 

On the fence about selling, but hit me up if you want to make an offer!

Could be a great 1031 exchange property for somebody

bumping due to no replies...
I am having this proposed as an alternative to a 1031 exchange with boot. The official title of this is a M453, I believe.

Just heard about this today  from my tax advisor. It's a new one on me, and I'm still trying to get my head around it. Anyone have any input as to pros and cons? Your experience with this?

Looking forward to hearing how it turns out. Marketing is tricky! You don't want to promise what you haven't got, but you sure as heck don't want to play down what you have

well, it's ugly as heck. If it's rickety as well I'd definitely remove it. If the rest of the house is better looking it will just reduce the appeal anyway