All Forum Posts by: Eric R.

I don't look at their number. I use it to see the houses sold in the area. The break down between cash sales, private loans, and retail seems like it could be a powerful tool for people without MLS access. Idk how they come to their own inflated numbers, but having the detailed data on sold property in the area is what I'm using it for.

Omg.  Ok, sorry very little sleep last night.  Findcompsnow.com    Is there a way to edit the title of this darn thing?

Someone suggested this site on youtube in case people don't have access to the MLS. It seems really good. Even separates recently sold property into cash buyers, private loans, and retail. Was wondering if anyone uses this to get their comps?

Hey @Kevin Taylor,

I am new too, but wanted to say welcome!  I look forward to sharing our success stories in the near future.

Found the edit button

Ok, last post was too loing.  Noted.  Smaller digestible chunks.

The appraisal has a lot of "values" towards the end.  Is the total just value of a property the market value in the appraisers eyes, and does the % of depreciation come out of that number, or has it already been accounted for?

So I looked up this vacant lot across the street.  I pulled the appraiser forms and it says 33,729 total just value.  There is physical depreciation of 42% listed on the document also. Does this mean that after repairs it should be worth 42% more?  Or 42% should be taken off the total just value?  I know county appraisers shouldn't be the final word in property evaluation.  But I am new, and looking at comps on various sites seem to support that range.  All listed properties are asking for more obviously.  Most "sold" data i find in the area is a few years old and everything has been appreciating quite nice the last few years.

I also looked up the county records on the address/owner and there are liens against the owner that have dollar values that go up like one dollar at a time, but all with a different address on the lien documents.  I don't really understand what I am looking at there.  In fact, every document (besides appraiser) I find has a different (singular) address in the same city.  The property was also transferred in '06 as a divorce settlement.  I even looked up the tax collector info on it and it had an icon for unpaid taxes and and a number to call for amounts.

I am waiting to see what happens with my first deal before I pull the trigger on anything, but i can't help but do a little research in my down time.  I have zero experience in wholesale/real estate in general but I imagine if there are just a few years back taxes, and no liens on this property, then it seems like they might be motivated to sell.  If they don't have too much in back taxes I imagine getting this property at less then 8k and they walk away with some pocket money, no more back taxes and vacant house, and I can market it for like 15 or 20?

It almost feels foolish to speculate with numbers because I have no experience.  Hoping to get some good advice.  Thanks in advance.

@John Van Uytven  

Yeah I tried but there is no indication if it is working.  Most forums it will indicate somehow that the link to their name is working.  I guess this will be a test =]

Hey John, I was in Seoul.  I lived in the Songpa-gu area 10 minute walk from Olympic Park.  Thank you for the warm welcome.  How long were did you teach?  I only did one year myself.  If I had gone in my early 20's I would have stayed longer.  

Thank you all very much!  Hopes are running a little high (for me), but I am conservative so worst case I move on to the duplex and so on.

I will for sure keep you posted and I will post an update on tuesday afternoon!