All Forum Posts by: Itay Heled

John,

Thanks for your message, yes it is not a bad idea to look into this. I have about 50k of private money invested in the property but it is free of mortgage . I have been doing rent to own here in Canada So I know the benefits and the risks but  not sure about the protocols, legal  and costs involved.

However , there are few big disadvantage:

1 I was hoping to use the funds for future  investments

2 it is an old house  and  I am not around. which means  I often pay more for repairs  and unfortunately some contractors taking advantage of you when you are an out of town investor. sad but true. of course I can always  use property management but of course this is an extra cost.

but thanks for raising those options, I guess  Ill have to see how low i need to go with the price first and then re evaluate renting /rent to own /owner financing

Julie,

thanks for your feedback . house is not rented. I pay carrying costs out of pocket 

Thanks Brandon  that is very helpful

Dear Bigger Pocket members!

would love to get your feedback and suggestions regarding a house I am trying to sell unsuccessfully  since October 2015 in Harrison street Kansas City Missouri.

here is a  brief summery..

I purchase the house On May 8, 2015 for a flip. A local real estate agent "sell" it to me as a great opportunity in an "up and coming area". turn out to be a horrible deal. ARV he stated was

inflated ,house was over priced , in a much worse condition than reported & in a problematic location (including a next door neighbor with a yard that is a complete junk ,hence  scares away a lot of potential buyers before they even enter the house. ) 

just to add more to the fun, this great  real estate agent and contractor defrauded me and use  rehab funds I sent for other projects.. the ultimate flip nightmare... 

Anyway, now I am in a control damage state, trying to minimize the damage and loss.

 I  invest a lot into the rehab - new floors, new windows new kitchen  with stainless steels appliances- new bath,  full rehab. 

On  February, after very little interest and  limited  number of showing I replace the  listing agent and  hire Reece Nichols agent to list it.  their marketing was pretty effective and I got about 20 showing in two weeks. but still  no offers. last week,  I reduce the price by $5000 and offer a bonus to buyer agent.  still no offers.. 

My question is this: 

Other than reducing the price even more, is there anything else I can do to promote and close this deal? 

Thanks so much for reading this , and would love to get your advise.  

To get a better sense  of the house you can look at the listing in  link below:

http://tracyksearles.reecenichols.com/homes-for-sa...

MLS# 1976950

Hello,

I am looking for a reliable handyman in Kansas city MO

Any recommendation? 

Thank you so much Dawn! sounds like a good advice. I will contact Larry

So it is a busy season... contractors often don't return calls. you book appointments with them  and they never show up , or show up gives a bid and then say they actually  booked...

I have two properties in Kansas City right now that needs exterior and interior paint job.

its about 4000-4500 budget for each

I purchase all paint

finally two  contractors bid and ready to do it but  insist on getting 1000 to 2000 upfront  for each property before they start .

I am not too excited paying someone I dont know those amounts.

can any of you who are experience in rehabs have a creative solution not to lose

those contractors but reduce the risk?

thanks

Itay 

I am looking for an aggressive lawyer with reasonable fees In Cleveland Ohio.

Any suggestions/ recommendation would be great! 

thanks so much!

Itay

Hello BP, 

I would like to connect with investors who are actively fixing and flipping in the Kansas city market.  would love to connect/ learn and share from my experience in the last 8 months.

 I am based in Toronto and this is what I have done so far   Kansas city :  I  sold my first rehab last March (N College)  , have two properties under contract right now (in Raytown ,pending)  and another two under renovation (Lees Summit and Kansas city )

whether local or out of state investor operating in Kansas city or if you think I should connect  someone you know , please let me know

Thanks!

Itay

Thanks for your feedback Jim Cliff and Gordon.

my realtor got me the pending sales within 1 mile and feel it support $93,000  price

I guess time will tell.. I do feel however that being the most expensive property in the immediate area is not the best for a quick sell.

thanks again for your valuable feedback 

Itay