All Forum Posts by: Karen Hurd

Thank you Kevin Delaney so very much! This...was extremely helpful and I'm very grateful for the fact that you took the time to write so much! 

I have one more question.... that doesn't pertain to this house, but you have a sentence in your answer...".how much more 1 bedroom is worth in that area" Because I do not have access to MLS, how do I know what a house IS actually worth to begin with....I was told to never use the sold houses on zillow, Trulia...any of those sites. I was told they were all wrong. I am trying to make sense of this because the house sold what it sold for....In other words....How can zillow get away with lying about what the house actually did sell for. I don't know if this question makes sense, but if you could answer it for me that would be amazing!!

Paul Ewing I love Boyd Texas!! I've been there many times!! Brent Coombs - Go back and read what I said about the list. Read it carefully. Randy E. - Great advice and info. I'm going to take it and look into the realtor thing in New York. Kevin Delaney - Still wrong, still arrogant, still haughty. Do you really believe your remarks are helping me? "How do you talk if you don't have a brain?"
Doug Pretorius - Thank you Doug for great info!! I never thought of it that way. You are absolutely correct. May I ask you a question? Since I am NOT becoming a realtor how do you get the real exact comps? Zillow says one thing, realtytrac another, trulia another..I was told that the only way I can get exact comps is through a realtor. If you could help me with this..It would make my day! John Horner - OMGosh, really? I'm not looking to mark up anything. I never asked a realtor to do anything of the kind. I ask for freaking real comps. I am well aware my biggest mistake was getting my masters in English Comp. But, there are some real benighted people on this site. Mark Elliott - Thank you Mark! The properties that I had mentioned in my earlier post....the ones that I was given.....Can I PM you later about them? They are the ones that I tried...very hard...to figure out how to get them on my own....but could not. I think that you could help me...and, if you can...I would be more than happy to split it 50/50. You could have your lawyer draw up a contract and I will sign it. Thanks again.!! Michael Noto - Thanks for that Michael. You actually read AND made sense of my post. I appreciate your input and will give it a lot of thought. Richard C. - Are you going to vote for Hillary too?? 1. I didn't pay one dime...for one class....not even a book from a so called "Guru". I ended up on Bigger Pockets because friend suggested that I go on to learn and they were right. 2. I believe that you have a better chance of getting hit by lightning, than you do getting rich quick. Once again....I wasn't raised that to think that way. 3. I don't owe you an answer with regards to getting my license and It's not because I'm not a people person, It's because I'm not a stupid people person. You remind me of a Slinky...remember those? Not really good for much except for being pushed down the stairs. Mark, I'm working...I'll PM you in a bit and thanks so much for your constructive information. 

Cheers,

Karen

Okay, Thank you for your guidance and participation.  For K Arnett, I am new at this and It's a learning process. You are absolutely right...realtors do not know how to say no, and they will tell you that they work with investors, but they really don't. My partner and I found a website today that describes your "early on primitive way" and we will use it immediately. Jon Holdman - We (I have a partner) are not trying off the MLS. We are self-taught and were also taught by a nice young man that learned Dean G's techniques which suck. We asked for listings before they went onto the MLS in exchange for -Sue Kelly,Kevin Delaney - The realtor would be getting the same exact % at the closing that they would get if it were a regular buyer.Kevin Delaney - I never asked a realtor to find me wholesale properties. I asked the realtor to find me motivated sellers, distressed...etc...I never asked her for anything that she would not be 100% involved in. I wouldn't do a closing without a realtor, even if I found the property on my own. I'm not stupid or greedy. I am well aware that a realtor has the attorneys and title companies, that they've been working with for years.  I would never ask someone to do me a favor without repaying what's due to them. I don't work for free and I don't ever expect anyone else to either.  In addition, I also never asked a realtor to do something that was unethical. I asked first if it was ethical, was told yes, and offered the realtor a list of properties that know one (not realtors, not mls, not Donald Trump,) knows about yet, (this list came to me from a close friend and it's useless to me. I need a realtor. We both would have done well with it.) and their bosses (brokers), would be more than happy to have it, in exchange for running comps for me because that's what I asked her for. She took the list and I never heard from her again. I called, emailed, texted, However....I didn't go down to her office because I didn't want to put her "Livlihood in danger....I was raised with excellent morals and values.  Kevin Delaney -Both of my brothers are my cash buyers, are entrepreneurs and very rich, only they are not arrogant and live their lives without the haughtiness.  I'm sorry a house fell on your sister. Joel Owens - Both my brothers are very rich and are cash buyers. I have nothing more to add.  John Oitice - Thank you John for your extremely kind offer. If It's okay with you; I would like to send you and email as to what I am looking for. It was an extremely generous offer and I greatly appreciate it. I will certainly return the favor someday. 

Thanks again,

Karen

I am now convinced that It's not the wholesaler who is a hindrance, but the realtor. I have called roughly 25 realtors. I explain to them everything that I do, because in the state of New York you can assign a property. It's in the contract. I met with all except for 4 or 5. They all said the same thing...Yes, I would be happy to find distressed, motivated...etc...for you. Yes, I would be happy to throw you listings before they go up. Yes, I would be happy to run the comps for you. I go home feeling good. I call, I email...Nothing. Absolutely nothing. This is not on the weekends....I know that's when they are showing houses, but during the week when I have gone into their offices and noticed several realtors asleep at their desks. 

I finally find the right one. He's the broker too and runs the show. He spends 2 hours with me, we are talking and listening to each other and at the end of the conversation, we set up a day and a time to look at the perfect house for one of my cash buyers. He says he will call at noon. Nothing. I wait until 1:30pm, because I know how things come up, to call him...I leave a message. Nothing. At 2:45, I send him a text. Nothing. For the rest of the beautiful day, that my daughter was in New York and happened to be off....absolutely nothing. No jury would convict me. 

I think I'm going to give up and that's just not me, but I have worked morning, noon and night on this for 3 months. I have slept 4 hours a night because I am doing research on the computer, trying to find the right realtor, getting all my paperwork in order....just working so hard. 

I cannot remember the last time I felt this lugubrious and heavyhearted. I walked away from that meeting on cloud nine because he completely understood everything that I explained to him and how wholesaling worked. He loved the idea!! 

I'm not taking 50% of any wrongdoing , 85% or 99%. I blame him 100% for being selfish, discounteous, and uncaring with regards to someone's livelihood. And, If there is one thing that I cannot stand is a person messing with another persons livelihood,

What a shame. 

Hello everyone. 

I know of a 3/2 that is in a great neighborhood with blue ribbon schools. The sellers are very motivated and would take a lot less for cash. The house doesn't need any work, they just refinished it themselves, but have to relocate for work. Are there cash buyers that will buy. Not Fix...LOL...and hold? The area Isn't new but it was considered the second best area for schools in suffolk and now its jumped to the first. They investor would make a bit of money on it now, but more later if they held onto it. 

Also, I had offers on Bigger Pockets from people that asked If i needed an i vestment friendly realtor and of course I answered that I do. I didn't hear back from anyone and it was when I first signed up. Where they just being nice? I'm just curious because then I can scratch it off my list and look cor help elsewhere. 

Thank you again in advance for your time. 

Sincerely, 

Karen

Hi @MindyJensen

Thank you so much for your advice, but I'm not interested in buying the property at all. I know someone that is and I couldn't figure out why. You answered my questions.

Thank you. 

Hi John,

Thank you so much for your response.  The property is a buy and flip for resale. The reason why there aren't any comps is because the house is ten times larger than any other house in the entire neighborhood.  The house doesn't need one thing done to it. Everything..including the dog house in the backyard is completely updated and absolutely gorgeous. Such a shame what happened to him......

I have another question, They are asking close to $800,000 for the house in an area where all the other houses go for $550.000. My question is...who would buy the house knowing they could never sell it for the amount they paid for it? Just curious....

Thanks,

Karen

Hello everyone,

I hope you are having a wonderful day. I have a house that I want to put in a cash offer on but I can't because there aren't any comps. It's a prime location, excellent schools, but the guy who bought the house in 2007 is a builder.  He turned the house into this massive house that doesn't exist in this town/neighborhood. Most of these homes are 3 or 4 bedrooms and 2 and 3 baths. This house is 6 Bedrooms, 5 baths with all kinds of legal extensions. He's a younger guy with young children and his wife died of cancer and he went completely broke. He is going to put the house up for sale soon and my brother feels he will take cash for it. 

What do I do in this situation?

Thanks in advance,

Karen

@Kathy Persall, You must have had an extremely easy life  I raised my daughter on my own from the time she was 6 months old, no support, no child support. It was extremely difficult, but I ended up with an amazing, beautiful, smart and funny young adult. I married the love of my life in 1999 and he adored me and my daughter. We were married until June 2005 when he was killed in a car accident by a drunk driver. My husband was an Attorney and we had 3 homes. God blessed me with a period of time that I could stay home, raise my daughter and be a wife a mother. That was gone in a day. 

I was a corporate flight attendant prior to meeting my husband and that isn't a job that you can go back to. Here I am a good Christian, a good person and trying to keep a roof over my head. Us..."so called wholesalers" are not all bad. Some of us work morning noon and night to do the right thing and work extremely hard while trying to learn all of this. A nice person will help you and pick you up or at least ask if you need help, in your time of need. A stuck-up person will shoot their mouths off and walk right past you. 

We all have to answer to God someday. I'm not worried. 

Karen

I'm a newbie and I have a newbie question. Okay, as you prob know, the "Sandy Houses" here on Long Island are going up for auction. The Big Tim Investors have been chatting about this like a bunch of old hens!! Anyway, A property close to the area of Freeport/Long Beach (where Sandy hit hardest) is not on MLS yet and was given to me. It's in a very affluent area, on the water, with great schools and all that Freeport/Long Beach does not have.

The realtor who offered me the property said that it needs one of 2 things. Either 100,000 worth of work or to be torn down and made into a mansion. 

I'm wholesaling and I haven't come across this scenerio before. How can you run numbers taking off 100,000 for rehab?

I'll take all the advice I can get!!

Thanks in advance,

Karen