All Forum Posts by: Jeremy England

@Matthew John  I get what you’re saying. What criteria are you providing to your agent. Im just putting myself in a sellers position. 

If my house needs work, or is out dated and I can’t afford to do it or don’t want to, i know that I will have to ask less.  

Not 30 pct less, but what I ask for and what I’ll accept could be quite different.  

Did you offer on all those properties?  

What are the avg number of days houses are on the market in your area?  Look for those that have gone 60 days over that.  

I know when I sold my home last and it went over what is typical, I dropped my price. 

Congratulations

How did you pay for the project?  I am researching how to pay for investment properties and keep running into high buying costs.  Was this an all cash purchase or did you finance?   

Perhaps alot of those folks asking for a price outside your criteria would accept a price within your criteria.  

offer to pay her to leave.  Cost you less in the long run.  Five hundred cash after she vacates

Careful on those buying costs.  they look very low to me.  If I pay cash, I'm paying about 4k, if I'm getting a loan, those costs can exceed 10k on a 100000 loan

Im seeing much higher purchase costs.  4k at least on a 100k purchase. Between closing fees, title searches etc. and thats a cash purchas. If financed you can tack on points, origination, appraisal, survey, lender title insurance. 

I was recentl quoted a total of 10k in costs on an 80k loan

I've been outbid on 3 straight offers on REO properties. I was already bidding at MAO. I don't see how the winning bidder is going to make any money on the deal. These were intended as flips.

I may change strategies to buy hold, perhaps I could bid more and still cashflow. But as of right now, people want too much money for the properties. Contractors want too much money to work on them. Lenders want too much money to finance them. However, ARV has not changed much in Pensacola.

 What kind of turnaround times are you seeing on those deals?  From purchase to resell?  

Term is 30 years, 5.4 pct 

Lender is quicken loans.  I won't be financing with them, they were the first ones I called just because they carry my primary res.  

 That's a good point.  I recommend anyone with a capital one account sign up with credit wise.  It allows you to place speculative numbers in as far as debts, late payments, etc etc to deterimine what it would do to your credit score.