All Forum Posts by: Kevin Ivey

our photographer uses the app magicplan.  we plan to use on our rental this next month to help get a detailed Floorplan for future updates.

I like it vs doing an older building where you're spot fixing problems and are hoping nothing to signicant is hiding in walls.  if you have to demo it all, way easier to have it done vs spending time or money and less surprises.

very different project then 20 yr old cosmetic flips and may require a lot more permitting and upgrades since it's all open the building dept may want you to meet current code as much as possible.

Do your own title research. Auction will clear most liens, and encumbrance. but not water and sewer or IRS (those will fall off after 6 months I believe) HOA should fall off, May need to pay 6mo back dues depending on their covenant easier to work with them.

Live Auctions you won't get any kind of title insurance, Online only auctions are really REO sales. Most lenders wont lend with out title insurance and time to underwrite, so wo t loan on auctions.

This is the market I work in in  WA state, best of luck and don't go over your $ number!  always another auction next week.

I think it's all very regional and just because  you are over the grey and look at it them all the time doesn't mean the buyers/ tenants are.

I do wonder if some of the "this is what sells" is more about that is what is available, if 80% of the houses have the same finishes then guess what, that is mostly what will sell.  But it's hard because if you get to personal, stylish, "on trend" you can alienate a group of buyers.  

I also go with the Home Depot rule, if I can find all my finishes at Home Depot it's time to update my finishing touches. 

We do this a lot with our flips.  Key going from stain or plastic coat trim is sand primer sand and then paint. Sanding helps the primer and paint bond.  Primer ensures no bleed through and paint can bond properly since you could br going oil/ stain to latex paint 

They will have have some rights ask if the current owner provided a Notice of Sale which would start the clock on eviction timing. 

They will have some tenant rights in WA state they have 60 days with no lease if they were a tenant.

Get the attorney going also find out how far out eviction hearings are be booked.  In Seattle they are 9 months out to hear and give you the writ of restitution, then a 3 + weeks to get the count Sheriff out.

This is why good Ole Cash 4 Keys work. 

Feel free to reach out I deal with foreclosure auctions and just wrapped up 2 evictions.

i primarily work i  foreclosure auction properties.  Most of their properties are either live auctions that they host ( like one in 5 foreclosure auction properties here in Wa) or the online only are actually properties that have reverted back to the bank meaning they couldn't sell them for their minn bid to the local investors.  They will try 2 or 3 times of online only auctions with out any discounts to move it.  

I have bought from them and it was a hassle lengthy and way more hoops than you would expect from a foreclosure.

as always your milage may very.

I know most areas the good contractors are too busy for pie in the sky quotes.  I like the idea of offering to pay for their time but have never done that.  

I would replace amazing how new current trim can update a house 

Here in Washington state I have an agent through state farm, and the policy is under "foremost" which might be the payment servicing company.  also reach out to the local flippers who do foreclosure properties.

Best of luck

Kevin