All Forum Posts by: Liz Rogers

@James Wilcox thank you! I have also been referred to Welch & Company CPAs. They are in Nicholasville and Georgetown. I am having difficulties getting someone to call me back though, a problem I am having with a lot of people (bank, contractors, cpas...). So I will check out Dillion if I can't speak with anyone at Welch. 

Thank you!

Liz

Stuart, We need $25k with a plan to pay our investors back in two to three months. I'm just not sure what is a good return to offer after 3 months?? 10%? 15%? This is also family we are approaching. Not that we want to cheat them, but I think they will also be willing to take less of a return just to help us with this. Liz

Hey guys! My husband and I need to raise some capital for a deal we are working on. We are going to approach some family members with the deal, but I'm not sure what a good return to offer is?? When you ask friends or family for capital what are your terms?? Thank you!

Hey guys!

For those of you in Kentucky do you have a CPA that you work with and would recommended? Thank you!

Liz

Hi Jade!

Is he damaging the property or have you gotten any complaints when he is visiting? My concern would be that he is not tied to the property in any way. So if they have a fight and he punches a hole in the wall and then your tenant doesn't want to pay for it (she sounds a little snotty from your post, I could be wrong!) because she didn't do it... Is there a way that you can ask for his information if something does happen? I don't know if that is even legal... 

This is a tough one.. You could let it slide because that is very common for couples. On the other side how do you choose what to let slide and what not to let slide? I don't think I was much help!! Good luck!!

Liz

@Justin 

@Justin Tahilramani

I find that interesting your realtor told you that foreclosures could not be used for comps. Is that specific to certain states or areas? Or just their opinion??? Does anyone know they answer to that?

Liz

Thank you everyone! This does help a lot. I guess I just don't agree with including foreclosures in a comp because the foreclosure price may be lot lower than the actually value of the home, but that is where the investors come in! There are other homes in the area that have sold close to what we want and are smaller. So we will see! I don't make the rules I just play the game! Thank you for the input to all of you!!! This is why I love BP!

Hey BPers! My husband and I have a house in VA and we live in Kentucky. We are working with a realtor who did some comps for the area and told us we won't be able to sell the house for what we want because there are 5 foreclosures in the area bringing the prices down. I'm so confused by this. She explained it to me, but it still doesn't make sense to me. How can foreclosures bring the selling price of a house down?? I know that doesn't look good for the neighborhood, but I can't imagine someone trying to negotiate with us saying well the house down the street was foreclosed on so you need to lower your price... Can someone explain this?? Thank you!!! Liz

@Bill Gulley

Thank you for that break down! I did not know about the legalities of a rent to own option. I appreciate the feedback!

Liz

@Angel Rosado

It was definitely an adventure! And we learned a lot! I would definitely look into a community bank though... Ours was SO MUCH MORE FLEXIBLE than the commercial bank we worked with and they did not send any inspectors out when each job was completed. We took pictures and they were fine with that. Plus we go to do the work ourselves instead of having to have a contractor do it all. 

Liz