All Forum Posts by: Jim Tiernan

When looking for deals, I often have to come up with an ARV (after repaired value) for a property.

There are many AVMs (automated valuation models) out there. Redfin, RealQuest, Zillow, Realtor, Chase, FindCompsNow, PropertyShark, Remax etc.

Has there ever been a study of which one is most accurate?

Is there a site that consolidates all these AVMs into one list?

Any good AVM sites that I am missing?

Thanks,

Jim

rentrange is pretty good too. Ive lived in Sunnyside since 2001

This will be my third Success Summit and it's well worth the $10

Tempe too!

Thanks!

Jim

thanks @Jake Silcott and @Bill S.

I've heard HELOC money can't be used for down payments for single family?

The market has had a nice little run since my last re-fi, and I want to investigate moving my new equity to more higher ROI. Of course I really don't want to touch the low rates I already have. Are second mortgages worth looking at? HELOC variable rates scare me a bit as rates are going up over the long term. Then again you don't start paying on a HELOC until you use the money, unlike a second mortgage.

Here are the numbers:

Primary Residence - Denver Sunnyside Neighborhood

Last appraisal: $315K in spring of 2013

Worth?: $365K

Mortgage Balance: $242K

PITI: $1,494.70, P= $430.75, I= $657.27, P&I= $1088.02, Escrow= $406.68

Rate: 3.25%

Updates: About $25k-$30K of improvements since $315K refi.

Aprox HELOC Available: $50K ($365K * .80 - $242K)

Investment Property - Denver Cole Neighborhood

Purchase: $220K December 2012

Worth?: $280K

Mortgage Balance: $160K

PITI: $1,007.10, P= $257.60, I= $518.29, P&I= $775.89, Escrow= $231.21

Rate: 3.875%

Aprox HELOC Available: $50K ($280K * .75 - $160K)

Current Wells Fargo HELOC rates (20 year)

Line of Credit 3 year fixed rate 4.375%

Line of Credit 5 year fixed rate 6.99%

So as long as I can invest the proceeds of any HELOC/Second a few percentage points higher than borrowing costs, it's worth getting the HELOC/Second?

Thoughts? Advice?

thanks @Michael Quarles And others

I have @Jerry Puckett running my letter campaign and I will keep at it!

@Gerald Harris do you have that cash buyers questionnaire in a document? Can you email it to me at [email protected]

Thanks!

Jim

@Dean Meier I'd say most everyone falls into one of these categories: 1) annoyed/angry and want off the list 2) curious but not motivated 3) possible sellers but want cash. I need to explain to them the benefits of category 4) seller financing.