All Forum Posts by: Maurice George

Where does it show the sales price? Years ago it used to show all the bids, but I thought for the past several years, it did not show the winning bid....but I'm no expert on this. How do we see what the winning bid was, other than from MLS once it closes. Does HUDHomeStore show the accepted price? Also strange isn't it if they had accepted an offer, why did they counter yours?....but then again we're talking about making sense with the government or government contractors...so tough to know how they operate or what their strategy is. Will be interested to see the comments here. We just don't have many HUDs around my area any more so haven't heard or experienced any stories lately like this.

Those are good places as far as schools and quality of life. However, the property taxes and insurance costs are higher. They also do not offer as high a return on investment (in my opinion).

You might consider Sapulpa, Glenpool or Sand Springs

, They are working class areas and are more affordable for most renters.

My Jenks house is 1950 SQ FT cost $210K and rent is $1500.00

My Glenpool house is 1235  SQ FT cost is $115K and rent is $995.00

They are 4 miles apart.

So it is outside the exclusive period?   With that kind of pricing why did it not sell during exclusive?   They are in the business of selling to O/O, but I'm surprised they would take that kind of pricing.

Are you sure those are the right numbers?   I guess you can know for sure in 30-45 days.

 Maurice. Bakersfield is more like 5 hrs drive away from me and Fresno 4 hrs (I live in San Francisco). But presuming there're good semi local markets within 2 hr drive, would you still mainly rely on a property manager?  I guess potential problems that come with acquisition can be resolved since I can see the property with my own eyes and meet an agent in person before I enter a PSA, but what part of "being a landlord" would you do it on your own and what part can be relegated to a PM? Unless I have to, I wouldn't make a 4 hr round trip, just because it's too time-consuming. 

@Ned Carey  I'd rather be over cautious than not to be cautious enough, especially since I'm a newbie and the property is ~2700 miles away. When I make decisions, I only care about the worst case scenario and whether I can handle it or not, which involves asking "what if" questions. 

Roofstock inspection reports aren’t created equal. The report for this particular property is only 13 pages long including all the pics, not very detailed. Some Roofstock inspection reports are over 100 pages long. 

My then prospective buyers cared about the roof permit and factored into their offer amount. 

Lets just say I have probably had 6 figures worth of 2,500 deposits charged and then refunded bidding on a certain type of asset on there and every single time I have been outbid in the last hour. After the 20th time the property appeared again after the first auction I quit going on it. 

At one point I was doing so many bids I had 2 credit cards I only used for auction.com deposits. Never won a single property. Was the higher bidder until the last 2 hours on at least 75% of the properties.

One of their reps was at our REIA and I asked if the bank or other parties with an interest in a higher sales price could bid and did not get a straight answer. I never logged on again

An update to this. The property I was bidding on with Hudson and Marshall went back to auction and I won the auction. This time I had to bid all the way to the original asking price. It was still a good deal so I took it. I used my own closing and title company. I had to pay all closing costs including excise tax. All of this was stated in the terms of the deal and was in the purchase and sale agreement. The process was a bit slow but Hudson and Marshall was fair and executed the deal as stated. I have no complaints and I will do business with them again.

Scott England,

Thank you fro your insight. I am looking for the steps to take in order for a business owner in Uganda, to invest/purchase real estate in Houston, Texas. Who or what professional title is given to someone who handles these monetary transactions in these instances? And, before we move forward, he is legit. This past summer I visited him and his family, I've known him since college. His father was a prominent positive politician and they have legitimate business dealing with their government as well. It's all legit. I am curious as to what could cause a red flag as far as the origin mattering? Where is the best place for the money to flow from? Why would one account look fishy and what account or source will typically put worries at ease?