All Forum Posts by: James Vermillion

Welcome to BP Darin. I just left active duty Air Force last summer (former maintenance officer). What area(s) of real estate investing are you looking at?

Have you checked out the Ultimate Beginner's Guide yet?

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J Scott has provided some great info on determining ARV, here is a primer:

Estimating ARV

Also, here is the BP book on flipping:
BP Flip Book

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Originally posted by Bill W.:

totally off topic, but the McDonald's hot coffee lawsuit is often used as the poster child for frivilous lawsuits. The facts of the case are much more intersting as they demonstrate a culture of corporate neglect on the part of McDonald's. There were internal memos from McDonald's over the previous decade stating that they knew their coffee was caused damage at the temperature served but it was easier to pay these cases off when they occured than make a change. The woman was in the hospital for eight days and originally wanted her over $10,000 hospital bill covered but McDonald's would only agree to pay $800. If she wanted any more money beyond that, she had to sue.

http://www.caoc.org/index.cfm?pg=facts

Interesting Bill. I am the first to admit I do not know anything about that case. There is a documentary about it on Netflix but I never have cared enough to watch it.

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We would need more information about the particular property to give advice. What do the comps tell you? You need to fully analyze the property (figure out what the after repair value is, estimate rehab costs, and build in profit) to see what your max purchase price would be.

Was the appraisal recent? Have you seen the home? You cannot rely on the seller to tell you what repairs are needed.

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Have not seen this particular scenario before...interesting. You know the lady that sued McDonald's because she spilled the hot coffee on her lap...the other day I almost spilled coffee on my lap and I think it would have burned my had that happened, you think I should sue?

Geez, stuff almost happens to me daily, my lawyer better free up his schedule!

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Welcome to BiggerPockets Josh. I was about 23 when I first got interested in real estate (fast forward 4 years or so and I am still loving it)! Good luck to you!

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Welcome to BP Brett! There are quite a few members from SoCal, so perhaps you can connect with some of them.

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Welcome to BiggerPockets Blake...you will be doing a lot more reading on BP I bet (remember to give your eyes a break every hour or so)!

I love the idea of using sales commissions to purchase real estate!

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All Forum Posts by: James Vermillion

James Vermillion has started 17 posts and replied 2680 times.

Post: New member from Peru

Post: New member from houston

Post: New Member from Central Florida

Post: HELP!!! SO NERVOUS ABOUT PUTTING PROPERTY UNDER CONTRACT

Post: Tenant Request for Compensation

Post: HELP!!! SO NERVOUS ABOUT PUTTING PROPERTY UNDER CONTRACT

Post: Tenant Request for Compensation

Post: New 23, dedicated and looking for a place to start

Post: Noob from Los Angeles

Post: New Investor Austin, Texas