All Forum Posts by: Josh Norris

Thank you all. I was curious as I am sure others are what peoples experience was. I haven't purchased a property online but may give it a shot and throw some bids out to see what happens. It seems like there are many types of properties on there from bank owned to FSBO. Some charge a percentage some don't. If they truly are bidding up using bots then that is a big reason to stay away as it is not a true auction if that is the case.

Hey all I am just curious who is all using auction.com or another online auction portal to buys real estate and what is your experience?  

Any tips on going about purchasing?

What to look out for when buying online?

Are there really any good deals using an online auction?

Thanks,

Josh

Have you looked into raising private money from people you know or family?  What amount are you putting into the deal and what is your exit plan?  PM me and give me some more details.

Details:

2 bd, 1.5 ba, 960 sq ft

7700 sq ft lot 

290 sq ft attached garage that can easily be converted into a bedroom.  It is already sheet rocked and finishes just needs the garage door replaced and framed in.

Easily add a second bath to make this a 3/2 once garage is converted.

Currently used as a rental home and needs some TLC. The back yard needs a complete overhaul and large trees removed. There are two out buildings on the property that can either stay but I would remove at least one. They are both wired and have lighting in place. There is zero inventory in the the area and ARV with a conversion would be 370k. Asking price is 275k with 50k in fix up costs. PM if interested and I can supply address.

All very good points that I didn't necessarily think about.  I have since spoken to multiple people in the middle of remodels on their own homes and have heard both the good and the bad stories they have gone through.  It sounds like a good architect and structural engineer are key to larger remodel projects, both from a time and cost stand point.

It still amazes me the amount of time and effort people put into helping each other on this site.  Thank you

@Chad Conrad @Hugh Ayles @Carl C.

Thank you very much for your professional insight.  That is the honest answer I was looking for.  This architect has tremendous experience and was referred by a structural engineer that was highly regarded who also works for the city and has a lot of experience on the permit process here in Seattle.  Quality is much better than being thrifty in this area as you guys pointed out.  I just need clarification since I haven't jumped into a project like this before.

I appreciate your time and honest thoughts.

@Steve Osowicz I guess I didn't mention.  The house includes a complete layout change and I was born missing the design gene.  This costs includes having him available to the contractor throughout the project.  It just seems high to me and I wanted to get others thoughts that have used architects on a project like this before. He is also basing his cost on a complete construction cost of 200k before we even have drawings to bid off of.

Hey All,

Just wanted to get some thoughts on what my architect is charging for the design and management of a major remodel.  The house is down to the studs and I have been working with an architect that came highly referred.  I have seen his work and he does a great job.  The house details:

1800 sq 3 bd 2.5 bath when finished

We are converting the garbage into 2 bedrooms and 1.5 baths.  The upstairs is becoming a complete master suite.  

Outside we are adding a 750 sq ft 2 car garage along with a 2 bd 1 ba apartment above.

The architect just sent me his proposal and it is for 5% of the total construction budget.  He has estimated this budget to come in around 200k, seems high to me.  This puts his cost at $10k for the design.

Any experienced thoughts comments would be appreciated.

Josh

Alex,

Not sure in following your post here.  Are you saying you have a property with an offer in already and you want to get other offers?  The post says 400k is that what you are hoping for?  Are you the owner?  Is it generating 24k per month net or gross?  A little more clarity may help out, sounds interesting but I'm just not really following the details.

@Elizabeth Blazina You shouldn't have a hard time finding a title company that does assignments.  Any reputable title company that closes many deals a month will know exactly what you are talking about.  I use WFG National Title, they have closed my last 8 transactions and are well versed in all types of closings.  Samantha Ta is who I use and her number is 206-729-7000.  I am not affiliated with them at all they just happen to be who I used 10 years ago when I closed on my personal residence.