All Forum Posts by: Marco Jove

Beautiful job @Angelica Osusky 

@Jason Hirko I agree with you. Still I have found some good deals that make sense. In this case I am trying to get as much information possible. 

Thanks

The bank listed the property bank on the market again 15 days ago and the deadline its tomorrow. The city Code enforcement department have a lien against the property. And yes the bank will give me a clean tittle. Can you recommend a way so I can verify if there is any other debt to other parties? @Nuhan Demirkan

Thats right @Stone Teran I have priced this risks into my costs but I am not 100% if I have everything I need to mitigate my risks. 

@Allen Fletcher Thanks for your comments. Yes I was able to walk the property and actually we did a complete inspection of it. I feel very comfortable with the improvements costs. The thing its that I don't feel good about going into a deal I feel I have not leverage at all. Its how the bank says and thats it. Also I saw in the property a list with all the people that have looked the house for the past year (there is a lot) so I am not sure if there might be something I am missing here that can cost me money at the end of the road. 

Any suggestions what to do in this particular case?

Dear Friends. 

I have found a property that I think could be a good flipping deal. The house need lot of work but with great potential. The property its a REO that have been listed for over 1 year. The bank that its selling do not allow any period inspection after offer acceptance. I have until tomorrow to summit the offer. Also there are lien against the property that for now add around $18.000 and some building violations since 2007. Also if the offer its accepted the bank request a 3% deposit upon signature with 0 days of inspections (no inspection contingency) and 30 days closing date. The property purchase price its $210.000 the improvements around $90.000 (need a new roof) and the selling price around $390.000.

My broker feels comfortable to follow the bank conditions but i feel a little pressure the way the deal its set up. 

I would love to hear your opinions about this particular scenario.

Thank you all

Thanks @James Wise I will do that. But still I am not getting to understand the property rental demand for particular area.

My problem its that I am analyzing some deals to buy and hold but I want to make sure there is enough demand that will allow me to rent the property fast enough. Its not only a matter of how much to charge its a matter of getting the understanding how people are searching for rental properties in this particular area.

What do you mean with a test add?

Hello everyone. Can anybody tell me what its the best way to evaluate the rent demand temperature at any particular area? I am using rentometer and zillow rent valuation to get an estimate rent amount but I would like to know if there is enough demand at the area I am evaluating. 

Have a good day... God bless you all

Hi Matthew I will definitely review it with my attorney thanks for your recommendation. 

Take care

Hello everyone, can somebody recommend me a good source to get a General Contractor Contract agreement? or if someone has a agreement template that is using at this moment? I want to make sure I cover all the gray areas.

Thank you very much