All Forum Posts by: Matt Shields

If in an HOA the CC&R's. Utility companies, internet/television, school information, emergency services, and nearby public transportation.

It sounds like you are wanting an agent to analyze the investment potential of properties. I would never rely on anyone else to analyze a deal. You have to look at it from an agent's point of view, you are asking them to do a lot of work for a person they don't even know and will probably be just a waste of time. So, I would recommend working with one agent, and offer to sign a buyer/broker agreement that states IF you purchase anything it will be through them. Also, provide them with your approved financing and/or a proof of funds letter from your bank. Now the agent knows you're for real and worth the effort. Good luck!

The lack of quality of some homebuilders is frustrating. I would at least contact the builder, a roof failure at six years is unacceptable. If the company is on social media I would ask them about it publicly. I have a Standard Pacific home and the roof developed a leak just after ten years. I had it inspected and found that the roofers had swept all of their leftover debris to the center and tiled over it, this caused water to pool and the underlayment to eventually fail. I contacted Standard Pacific, and because it was a little out of warranty they told me to pound sand. Lesson learned, when building a new home do an inspection just before the tile goes so you know whats under it. As always seek professional advice. Good luck. 

As silly as it may be, proceed with caution. You do not want the home to be known for being a haunted house. Some states require disclosure of deaths in a home and/or if a property is stigmatized for having ghosts. This can seriously affect the property's value, and failure to disclose could bring a lawsuit. As always, seek professional advice. Good luck with your new paranormal tenants! 

Tenant Blames Ghosts for Breaking Lease

The big box stores quality of installations depends on their contractors and varies by location. I have had great and not so great installs. Try to find someone in the area that has used them and ask about their contractors. If you choose Lowe's find one of their 10% off coupons, it can be applied to flooring. I think Home Depot still accepts Lowe's coupons too. The big box stores are very competitive with each other and lately they have been offering free installation including stairs. Good luck.

I purchased a flip out of the trustee sale that was owned by a hoarder. He was trying to talk me into letting him stay for a couple of weeks to have a garage sale and clean everything out. I knew how that would go, so I told him "Let's have a sale right now and I will buy everything in the house for $x and you give me the keys." (cash for keys). He decided to sell all of his debris to me and the next day I had a dumpster in the driveway. After filling it with my purchased items a couple times it was pretty much a normal rehab.

If it's a listing, you could try to find a cleanout company that will agree to be paid out of escrow, or there are lending programs that offer home renovation loans to fix up homes to be sold.

Be careful working with wholesalers as an agent. In many states it is illegal to pay an unlicensed person a fee, so make sure the deal is not structured that way. As always, ask your broker. Good luck!

Hard money costs have come down a lot, but this being your first flip they will probably still be relatively expensive. I have funded all of my flips with hard money and have a good relationship with my lenders. As I have done more deals and built trust with my private money people the rates are now much cheaper. I have one main guy but also backups in case he would ever crap out. I would ask other investors for reliable lending sources. As always, seek professional advice. Good luck!

I think everyone will need more information to offer any advice, but if the situation is that you can build new for the same price as a rehab, I would vote for new. That's my two cents, but seek professional advice. 

Cozy.co is about the easiest I have found to use. I switched from rentperfect.com, which is good but more difficult and expensive to use. Could it be that they are claiming it is difficult because they don't want to complete a background check? I just screened a half-dozen applicants and none had trouble filling it out, just passing it. Good luck!

I have quite a bit of experience with dirt. Be very careful buying land off the internet. There is a lot of worthless junk property out there that comes up for sale when the market gets hot, often by someone who bought it during the last bull market. No legal access, no water, floodways, hazardous waste, or utilities a hundred miles away are just some of the things that can make the property have little or no value. If you are not experienced in land, please seek professional advice. Good luck!