All Forum Posts by: Elliot A

@Michael Quarles Why exclude 2 family houses and up?

We definitely can't go based on price, if we're talking in a broad sense. Around my area, for instance in the Bronx you can have a SFH go for $250,000+ in a C class area, whereas that could possibly get you a great house in an A class area in some other neighborhoods in other states.

This is exactly my impression of the "property classes" as well.

Will, hope you can get these lowlifes out as soon as possible. How are these bums able to afford a lawyer who will do all this for them?

Just stopping in to to say thanks for doing this Michael. I'll stay tuned and I am very interested to see the results!

J, thanks again for the advice.

Jake, I can understand that, but all I asked him when I called was the asking price. Wasn't really leading him on or anything.

So without doing an inspection or say for instance a title lookup, how do you protect yourself?

Heh, thanks for looking out Joe! Don't worry, I am not even in the process of making offers now. Just trying to get my feet wet. :D

J, thanks for the reply. Greatly appreciated. When you say no contingencies, do you mean not asking for an inspection period, etc?

Joseph, the property was located in the SFV. It was in Encino. I didn't really have a strategy when calling, I am just driving through neighborhoods close to me and looking up prices of houses/etc... Trying to learn the area a bit. Eventually I would like to fix and flip. Hopefully soon!

I recently contacted a broker about a property he was listing. It was decently priced and was a great rehab property. He told me the house was in escrow but that he had 50 offers on the house before that.

Firstly, I know he might be talking nonsense, but the way this property was priced and with the amount of investors the area I wouldn't be surprised.

Out of these "50 offers", how many of these offers are REAL? In your experience, how many are just verbal offers with no real intent and how many are actual offers from real investors willing to follow through?

Lets say that only 10 of these 50 offers were from legitimate investors and the house was priced at $210,000. Lets say for arguments sake that all of these 10 investors offered near or full asking price. What is it that would separate the winning offer from all the others?

I guess this question is better geared towards agents, but I figured everyone's experience is valuable! Thanks in advance!

Just bookmarked this blog. Great work, Danny.

Just checked out redfin on your recommendation Tim, it's fantastic!