All Forum Posts by: Lauren Heart

Hi Brandon, 

In my experience it can vary tremendously!  It depends on the lot size and the market location. Are you doing only one lot?  (If you are doing more request a price break.)  It also can really vary by contractors as well.  I've had bids come in on a project that were as much as a $300-$800 spread between bids!  My approach is to ask neighboring homeowners for recommendations and pricing.  If its property near them, they are usually helpful if you explain you are the new owner, and you want to increase the property value and support beautification of the neighborhood.  I usually get 5 bids from various sources and go from there.  Good luck!

All the best,

Lauren

Welcome to BP Jacob! You have come to the right place to learn and connect with other great people. The answer is...YES. There are many, and any can lead you to a deal. You might want to check what is popularly used in your location of investing. MLS is popular with all agents nationwide. That is only the tip of the iceberg...even Craiglist can lead you to a deal or a FSBO. For out of state investing...I heavily use websites for researching and finding deals. Which ones are better? It depends on the area. MLS for agents is usually a compilation of website info. However...in smaller markets sometimes agents don't even use the MLS due to fees. Happy researching and good luck!

All the best,

Lauren

Welcome to BP Susie!  

Yes...it's a dilemma.  But your current situation is doable...which frees you to invest elsewhere, and spread your risk out, (while cash flowing), instead of only purchasing in SF.  I have cheap rent..and any way I run the numbers...out of state investing is giving me the biggest bang for my buck.  You can always turn around and 1031 an out of state property into something local if you get tired of your current situation.  How long can you handle living with his sister and helping her bank account?

Only you can really answer the question of what's best for you!  Run the numbers...do an emotional check-in...and then decide.  It's not easy living and investing here...but trust your gut and your goals to tell you the next best move. Good luck!

All the best,

Lauren

Congratulations Dawn!  Way to go!  Is this also in Milwaukee?  You seem to have that market cornered!  Are you also going to PM this one too?

All the best,

Lauren

Welcome to BP Amani!  You have come to the right place for resources and great people!  You will probably want to contact the counties you want to buy in. There will be resources for new home buyers etc.  Do a general search for "home buyers assistance" or "first time home buyer program" or even "below market homebuyer" with the county name in the search as well. It should pop with web site and contact info.  The government really does have great home buying programs for newbies, and for those that need financial assistance in high priced purchase areas.  Good luck!!!

All the best,

Lauren

How creative Perry!  Thanks for sharing your story.  It's out of the box thinking that can land us our best deals.  Well done!

All the best,

Lauren

Hi David!  Hmmmm...this could be a tricky one.  I have lived in a rental that backed up to a graveyard in a good neighborhood with great schools.  I spoke with neighbors about their decisions to buy backing up to the graveyard.  By and large, most people were not superstitious, and didn't have an issue with the idea of what was beyond the wall.  I didn't have an issue either.  In fact the bonuses were peaceful quiet, and a plethora of beautiful birds visiting my yard (selling points for you).  However...your neighborhood might be a different demographic with superstitious people or people of a faith that might feel weird about buying there.

Advice?  Take into consideration the surrounding neighborhood.  What condition are the houses in?  Can you speak with some of the neighbors about their decisions to live where they are living?  Is a church nearby?  What do the county records have to say about how often the neighboring homes sell, and for comp pricing?  I think once you have answered these questions, you might be better informed about your decision.  I'm curious...let me know what you decide, and how it goes.  :)

All the best,

Lauren

Welcome to BP Yolanda!  You will find great resources and people on here.  Make certain you catch the main weekly Podcasts...they are packed with info. Happy educating!  :)

All the best,

Lauren

Hi Christopher!  Have you tried Mainsource Bank?  They lend in the tri-state area...and I've had success with them in the past.  You must have excellent credit of course!  Let me know how it goes...

All the best,

Lauren

Wecome to BP Peggy!  You will find great resources and people on here.  I'm envious of your move...I'm still about 6 years away from my relocation.  ;)  You will do fine in RE this time around...and it's clear you have good business sense already. How lucky to have a hubby that likes rehabs!  Have fun educating yourself here...and if you want to meetup before you move...let me know!

All the best,

Lauren