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All Forum Posts by: Marvin S.

Marvin S. has started 5 posts and replied 26 times.

Post: New Member Introduction

Marvin S.Posted
  • Ashburn, VA
  • Posts 26
  • Votes 2

@Erick Garske welcome!

This is an awesome resource and I can tell you right now you won't be disappointed at all. I'm still working on my first deal and any question I have I always bring it to this forum and get it answered almost immediately with different kinds of perspective.

Look forward to seeing you on the forum brother!

Post: New Investor in Austin, TX

Marvin S.Posted
  • Ashburn, VA
  • Posts 26
  • Votes 2

Wow @Seth Evans , small world! I hope our kids go to UVA, great school and area. Keep in touch and good luck with your investments as well! I think UVA has the best chance in history to win the tournament this year!

Post: New Investor in Austin, TX

Marvin S.Posted
  • Ashburn, VA
  • Posts 26
  • Votes 2

I don't have too much to offer as I am new to real estate investing myself and working on our first deal. But welcome to the forum, you'll find that the people here are very knowledgable and willing to help. Everything single question or problem I've had I've brought to this forum and received great advice every single time.

I use to live in Charlottesville, VA and have a ton of friends and fraternity brothers who live in Richmond. My wife and I are focusing on Charlottesville and Richmond for real estate investing. Did you attend VCU for your residency?

Post: Need Advice/Insight/Expertise

Marvin S.Posted
  • Ashburn, VA
  • Posts 26
  • Votes 2

I like that advice a lot @Justin VanDervort!

I used it a lot when I was in the military. I just added "Rework" to my wish list on Amazon. I have a mountain of books that I need to read. The most recent one I read was J. Scott's book on how to estimate rehab costs.

Post: Need Advice/Insight/Expertise

Marvin S.Posted
  • Ashburn, VA
  • Posts 26
  • Votes 2

Thanks @Jonathan Key for your insight! You are absolutely right, there was no sense in getting so worked up. We're still going to move forward with the deal but we have no issues walking away if the numbers do not work in our favor.

We're trying to make this a win/win situation. The home has been on the market for over a year and is in terrible shape! No one other than an investor or rehabber would even think about touching that place, IMHO.

Post: Need Advice/Insight/Expertise

Marvin S.Posted
  • Ashburn, VA
  • Posts 26
  • Votes 2
Originally posted by @Franklin Romine:
Originally posted by @Marvin S.:

Hey @Franklin Romine

I didn't know I could do that. But it's a great idea, ultimately she would be the one taking it to the seller right? Thanks so much for the suggestion!

 It sounds like your only resort.... If your agent won't even write up the offer... why would you want to use them?  I don't suggest to anyone to undermined your agent and go around them, unless your relationship has dissolved.  


Frank

I sent our agent an email this morning thanking her for her time and stated we would no longer need her services. Additionally we never signed any contract with her.

Post: Need Advice/Insight/Expertise

Marvin S.Posted
  • Ashburn, VA
  • Posts 26
  • Votes 2

Thanks @Jeff McCaskey 

We had an exit strategy A but have not thought about B. Thanks for bringing this to our attention. This will be our very first deal so we are pretty nervous and want to do everything right although chances are there will be hiccups along the way.

As of now the worst thing that can happen is the seller say no to our offer. We have nothing to lose at this point so we're full steam ahead.

Post: Need Advice/Insight/Expertise

Marvin S.Posted
  • Ashburn, VA
  • Posts 26
  • Votes 2

Hey @Franklin Romine

I didn't know I could do that. But it's a great idea, ultimately she would be the one taking it to the seller right? Thanks so much for the suggestion!

Post: Need An Agent In Charlottesville, VA

Marvin S.Posted
  • Ashburn, VA
  • Posts 26
  • Votes 2

Does anyone have any recommendations for a realtor who works well with investors in the Charlottesville, VA area?

We had a realtor but decided to go our separate ways after an unfortunate situation that I detailed in a previous post:

http://www.biggerpockets.com/forums/12/topics/176700-need-advice-insight-expertise

Any help would be greatly appreciated, thank you!

Post: Need Advice/Insight/Expertise

Marvin S.Posted
  • Ashburn, VA
  • Posts 26
  • Votes 2

Hey guys! Just a quick update for you, my wife and I decided to fire our realtor. Whether or not she agreed with our offer we feel as a professional you should never laugh at someone else. The realtor would have been paid a significant amount of money for approximately 5-10 hours of work.

At the end of the day we did not feel like she was on our side. The house has literally been on the market for over a year and she sent us an email stating "We should get an offer in sooner than later before someone else puts one in."

If there's one common theme I've learned from this forum and the podcast, it's that integrity & honesty are everything in this business. It's more important that any deal because your reputation is everything.

Thanks again for all the feedback I appreciate it.