All Forum Posts by: Michael C Gregory

Chris: Las Vegas is prone to lost cash!

Mike

When I run the property through my Title Company and get insurance, I thought that was only TITLE insurance. Does it cover the appliances, etc. that I put in to rehab the property? Does it include liability? (I know, call my escrow officer!)

Thanks.

Mike

I think it depends on several things. If it is in a HOT market with a lot of competition, I would offer pretty close to my max (maybe as high as 83%). If it is in a colder market with less competition , I would probably offer 65% ARV and then go through several counters. I am market like this, I probably would not go abouve 70% ARV.

Mike

I am looking at a property to rehab. It needs appliances, windows, doors, A/C unit, Pool units, a new electrical box, etc.. How do I protect these repairs. What if someone breaks in and steals everything? Is there insurance to protect these items while you are rehabbing?

Mike 

While I know that it is time consuming, I personalize my letters.

Mike

Hey all:

How do you make an offer? Do you just give them a contract to sign? Anybody have a good example of a contract?

Thanks.

Michael C. Gregory

Remedy Investments, LLC

Thanks Nick.

Mike

Phillip:

I believe that I need a GC who will look at the property, give me an amount for the fix, oversee the fix on a property that I am going to buy, and then get all the subs. Isn't that how it is done?

Remedy Investments, LLC

I need a general contractor to look at the property. Does anyone know of one in Las Vegas?

Thanks

Mike

Why does one of my sellers keep asking to meet at the recorder's office to do our deals? What does this suggest about the deal?

Why isn't he setting up an escrow account?

Thanks.

Mike