All Forum Posts by: Kay Winters

Yes, I just couldn't figure out why it would be in Hubzu's interest or the lender's interest to put people in the house.  It just happened exactly at the same time....coincidences are real!  I think I will just knock on the door and see what happens. 

There is a house in the neighborhood in which I live....actually, a few houses from my home.  It has gone into foreclosure.  Normally in my area (near Charlotte, NC) the Hubzu auction properties are also listed with a local agent.  This is not the case with this property.  It is only showing on the Hubzu site. 

This house was vacant for at least 3 years. In fact, our HOA foreclosed and then eventually the bank holding the loan intervened. This is the odd part: The first listing on Hubzu showed it with the OCCUPIED status - you know the one: Don't bother people in the house; no showings; must buy without seeing interior. AND, as soon as it was listed on Hubzu - 2 cars were in the driveway. I thought at first neighbors were parking there but last night saw they have lights on in the house.

It almost feels like Hubzu put the people there.  I'm lost on what the advantage would be for them to do this.  I've had some good; some bad dealings with Hubzu but normally you can see the reasoning behind what they do. 

Curious if anyone has any insight on this.  The Hubzu auction is not producing a bid on the property.  I would like to bid on it but am being cautious about the status situation and the lack of seeing the interior.  (They also have the sq. footage 250 sq. feet bigger than other info - would like to confirm)...Thanks!

I invested in real estate heavily - when I sold real estate in Colorado.   Ended up with a lot of negative cash flow properties and my husband got a once in a lifetime job offer in another state - so we sold everything at a loss.  Looking back, of course, (with the benefit of hindsight) - we had lots of other alternatives, it just didn't seem like it at the time.

Now, as a retiree (sort of), I've become interested in investing again. 

I wrote a couple of offers last week on foreclosures in my area:

1.  House built in 1960s - 4 BR/2 BA about 1750 sq. feet.  $82,000.  Will rent for about $1100/month.  I would finance this one 5/1 with 20% down.  Will need about 5-10,000 invested.

2.  House built in the 1920s - 2 BR/1 BA about 1300 sq. feet.  Needs about $10,000 invested.  I would pay cash for this one.  Would rent for about $800/month. 

I did not expect to get an accepted offer on the 2 BR.  It was listed in the high 50s and I threw the offer of $30,000 out there...assuming it would not be accepted but thinking I may come back later if it doesn't sell and make the same offer. 

I can go forward with one or both of these.  I'm feeling some serious buyer's remorse.  Primarily, because although I've lived here for some time - I have not bonded to the area.  I do not feel the same level of confidence in real estate as when I actually worked in real estate and had easy access to all stats.   House #1 is on well and septic and I've not had experience with that situation either. 

I had a friend ask me last night - why would I even want to do this?  I am comfortable and really am not in a situation in which I need to generate more money.  I think the answer to that is - I got out of real estate ownership in Colorado and Florida at the wrong times (due to husband's job movements); I think I'd like to show my daughters and son that real estate investments can work. 

Not sure what my question is!  Most of you are far younger than I - wondering if it is truly crazy for someone in their 60s to be doing this?  Opinions?

Hi Mike

I sold REOs in South Florida - and the cost for completely resurfacing the average pool there was around $3500 -

As an aside - I've seen some horrendous looking pools cleaned up beautifully for $500. The ones that had been abandoned for years can look awful and still have a lot of life in them.   Love them for re-sale there.... Ask your Realtor for a referral to a pool company for estimates on the ones you are considering. 

Thanks, Aubrey...will watch for your posts.  Good Luck with your future endeavors.  Charlotte is just a beautiful city.

Mark - I found biggerpockets through your blog....I still follow Colorado real estate - I know it makes no sense; but curiosity more than anything.  We would have LOVED to have moved back there.  Gotta tell you - that blog is really good.  I can just see the houses and the neighborhoods with your descriptions.  Good Luck!

Good Morning:

 I am much, much older than most of you (sadly!) - recently retired as is my husband.  I have been involved in real estate all of my life, it seems.  Because of my husband's profession we moved often - and I've had real estate licenses in Colorado, Florida and NC.  I currently live near Charlotte, NC.  Allowed my license to expire here and plan on retaking soon. 

I got my first real estate license in Colorado and almost immediately began investing.  Didn't have a CLUE what to be looking for but just knew that I wanted to have my name on deeds!  BIG mistake.  My husband used to say that I collected houses the way some people collect dolls.   We had the income to hold onto these properties but when my husband took the job in Florida it became apparent quickly that we had to sell.  This was before internet and even property management firms were not as responsive as they seem to be today.  Sooo, we sold everything we owned in Loveland, Colorado:  my dream home we had bought 7 months before the move; our previous house; a triplex; 3 starter homes and a home in Greeley, Colorado.  Yes, if I had kept them..........:)

We actually lived on both coasts of Florida and in between moved to Poland for a couple of years.  In SW FL I specialized in REOs and Short Sales - and could have done that forever - I loved the real estate process - however, we again moved to NC. 

We still owned a couple of places in SW FL and when Hurricane Charley hit - I went there to get the houses repaired.  And, of course, got involved in real estate again.  Living in FL for about 3 weeks and then NC for about 3.    I was there when things dropped as much as 70 percent in some areas.  And, again working in REOs and Short Sales I was positioned well to purchase - but, personal reasons brought me back to NC.

I never really bonded with real estate here...so, if I invest in this area I have a LOT of work to do. Because I've always worked in real estate and had that lockbox keypad - I feel unprepared to dive in without MLS access, etc.

Love this site.  Am surprised I never saw it until recently.  I've been reading old posts which I find immensely helpful. 

Good Morning:

 I am much, much older than most of you (sadly!) - recently retired as is my husband.  I have been involved in real estate all of my life, it seems.  Because of my husband's profession we moved often - and I've had real estate licenses in Colorado, Florida and NC.  I currently live near Charlotte, NC.  Allowed my license to expire here and plan on retaking soon. 

I got my first real estate license in Colorado and almost immediately began investing.  Didn't have a CLUE what to be looking for but just knew that I wanted to have my name on deeds!  BIG mistake.  My husband used to say that I collected houses the way some people collect dolls.   We had the income to hold onto these properties but when my husband took the job in Florida it became apparent quickly that we had to sell.  This was before internet and even property management firms were not as responsive as they seem to be today.  Sooo, we sold everything we owned in Loveland, Colorado:  my dream home we had bought 7 months before the move; our previous house; a triplex; 3 starter homes and a home in Greeley, Colorado.  Yes, if I had kept them..........:)

We actually lived on both coasts of Florida and in between moved to Poland for a couple of years.  In SW FL I specialized in REOs and Short Sales - and could have done that forever - I loved the real estate process - however, we again moved to NC. 

We still owned a couple of places in SW FL and when Hurricane Charley hit - I went there to get the houses repaired.  And, of course, got involved in real estate again.  Living in FL for about 3 weeks and then NC for about 3.    I was there when things dropped as much as 70 percent in some areas.  And, again working in REOs and Short Sales I was positioned well to purchase - but, personal reasons brought me back to NC.

I never really bonded with real estate here...so, if I invest in this area I have a LOT of work to do. Because I've always worked in real estate and had that lockbox keypad - I feel unprepared to dive in without MLS access, etc.

Love this site.  Am surprised I never saw it until recently.  I've been reading old posts which I find immensely helpful.