All Forum Posts by: Mike T.

I am currently talking to a homeowner in Colorado that has a 2013 tax lien on his property and unpaid 2014 taxes.  If the homeowner (funds from closing) pays the tax lien, accrued interest on the lien and 2014 taxes.  Then my understanding is that all property tax issues will be taken care of, is this correct?

Great article thanks for posting.  

Great Job!  How did you find the Deal?

What is the goal of your yellow letter?  Is it to generate a phone call or draw out motivation?  I mailed out over 6000 yellow letters last year.  I didn't close a deal.  I had a huge percentage call me back.  But they were tire kickers.  The real goal of the yellow letter is to get the phone to ring and that is when your job begins.  I didn't do a good enough job pulling out motivation on the phone.

I now prefer to send post cards with a message that qualifies more leads.  I get far less calls but they are motivated.  I started to hate calling all of those yellow letter voicemails that had a house that would sell for retail at 100k and they wanted 150k! (To be fair I did send them a letter saying I wanted to buy their house).  Good Luck

If you are buying a condo for cashflow make sure you look at the HOA monthly fees and the financial stability of the HOA. I just flipped a Condo and the HOA was a mess.

Make sure they have roofing permit.  In the state of Florida you must have Roofing license to pull permit.  Some investors use unlicensed crews which you can probably find for $55 a square.  

Get one estimate and then you can call against that quote using your measurements and materials from the quote.

Good Luck

Well first of all business is good in Tampa! I have a friend that owns a roofing company here in the local area, he replaced my roof in December.

Do you know what type of shingle and underlayment you are looking for?

What are you looking to pay per square? 

Thanks for all the insight.  I submitted an offer with 2 week close, 3 day inspection and 15% EM deposit.  We will see what happens.  

As far as how I know what other offers are, I talked to listing agent for a long time and there is more than one way to ask a question.  They could be misleading me but that is part of the game I guess.

Thank you everyone for your input, two more questions:

I have never submitted an EM deposit with my offer.  I know my offer is usually scanned and emailed to the buyers agent.  Do I list an EM offer in the contract or should I paper clip a check to the contract?

 Are they allowed to cash the check if they do not accept my offer? 

My partner and I have flipped 3 properties during the past 8 months. We have found the best deal to date listed on Wednesday for 206,000 with an ARV 400k+. The property needs a new roof, two ceilings have severe water damage and there is some mold. It needs some additional cosmetic fixes. My partner is an GC who owned an insurance restoration company. These fixes are in his wheel house!

The bank is taking offers for 7 days.  So far no has turned in a full cash offer for list price.  I am turning my offer in on Monday above asking.  This will be full cash offer, funds in my checking account.

Any advice on anything else I can do to get offer accepted?

Should I turn in an large deposit with the offer?

Thanks for your help.