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Hey guys,

I know of some great tools for rehabs from a book I read. I'm not sure of the rules of posting links though. I will PM Josh and see, and will get them posted. In the meantime feel free to PM me for the link.

Glad to finally be able to help,

8) LONNIE 8)

Well said...Here, here! :beer:

PS: Wish I had taken a speed reading class to read that post. (lol!)

I don't know MikeOh, somehow as a Newbee I feel offended by that post.
I'm a newbee and don't hang "We buy houses" signs. Now I know how that Caveman guy feels...

Newbees are people too!

8) NEWBEE 8)

P.S.: And yes I wanna be...

What does commentarym mean?

8) LONNIE 8)

Excellent post...thanks for the reality check!

8) LONNIE 8)

Congrats on your find, Joe. Orchard Park is definitely a nice area. Finally a fellow WNY' er.

Know of any REI Clubs?

Let me know.

8) LONNIE 8)

Hello again,

I have a question about a rehab project. I'll make it pretty general, let me know if you need specifics.

Is it better to have an attached business to a property, or would you rather see them converted to bedrooms/office?

Does the attached business "restrict" the marketability of the house too much?

Thanks...

8) LONNIE 8)

Hey all,

I'm looking at an REO foreclosure, and am trying to get an accurate ARV.
Unfortunately, the comps for the area are not very recent, and not very comparable. (ie: different number of beds and baths, sold 4 years ago, not on a busier street like the potential property). This property has a business attached, 3 offices and a "waiting area", and a separate entrance. I was planning on converting that to a nice 1st floor master bedroom and office, which would make this an uncommon 7 beds and 3.5 baths and inground pool.
The place is really rundown, its got a 60's thing going on with velvet wallpaper and all. The asking price is $109,900, rough estimate on repairs is 60-70k, my "buyers" agent said she thinks ARV will be 300+, which there are no 300+ houses in the area, except for the ritzier streets. Don't get me wrong the house will look like 300+, but I don't think it's realistic for the neighborhood. That brings me to my dilemma, how do I get an accurate ARV within 10-20k?

This being such an important part of the equation and my 1st deal, I don't want to screw it up. The zip code its in is 14217 FYI.

You guys rock...

8) LONNIE 8)

Hey all,

Just found out an REO house I've been looking at is a Fannie Mae property being sold by a Real Estate Agent. How are they to deal with, do they barter? Is it feasible for them to go for 70% of list price? The house in question is listed for 109,900 if that makes a difference and needs extensive work.

Thanks for your help...

8) LONNIE 8)

As a new guy to the business, I have learned so much priceless information from the sight. I cannot thank the people here enough, like the regulars, REI, BIGGERPRO, MIKEOH, MINNA, OHIO REALTOR, AUSTIN REALTOR, FLIPPER 101, just to name a few. For them to take their own time and offer their expertise to us on a daily basis, is selfless and much appreciated. I haven't rehabbed my first house yet, but I'm in the process thanks to you guys and gals.

Thanks for being inspirations.

:violin: LONNIE :violin: