All Forum Posts by: Morgan Carmichael

I just opted to directly talk to the agent over the issues I had and came to a resolution. It is the first time I worked with this agent and had just assumed too much, which does not help anyone. We created a conjoined game plan and am moving forwards. Thanks for all your input and the great information!!!

I have a couple problems with the agent. I have several times caught the realtor in a lie, nothing huge, but not necessarily something that increases my confidence in them. The realtor also hasn't informed me of things at the house that need to be taken care of; like spilled coffee stain from opening, floors need to be vacuumed, grass needs mowed before house showings and open houses. I only say this because I live 30 minutes away and work a full time job so I am not always at the property to check up on things and it would be helpful if they gave me a heads up if they notice something. I also have noticed that the other houses for sale in the area have more signage compared to the lone sign in lawn of the property in a culd-a-sac. Most of all, I have had to contact them to get open houses set up even though I let them know that I am in a time crunch with this project, looking to offfload quick. I guess, it just shows real laziness for someone who projects to make a good profit in the deal.

currently selling investment property with an agent but I feel that the agent is not representing me well, is there a way to get out of the contract?

since college has started, it would be tough to find a unit that size for sale with an emty unit.  Have you thought about a duplex with you renting out one side and living in the other with tenants rent covering the mortgage?

I live in that area and know some realtors that might be able to help you out. Where are you looking? 

Originally posted by @Chris Dawson:

@Morgan Carmichael, if you want a list of foreclosures, don't pay for it. Have your local agent set up an automatic search for those foreclosures in the MLS. The law requires banks to use licensed real estate agents to sell bank owned properties, so they will be in the MLS. If you are looking for pre foreclosure properties, that is a different ball game. You need to then be looking for properties that have already been assigned a trustee. How to find out this info varies from county to county and state to state. For example, Jackson County, Missouri has a publication that you can pay for to get this list. Sometimes you can search the online county records for this information.

In addition, I believe it is required by all states that the individual counties must publish (in a public publication) the list of all properties that will be auctioned off on the courthouse steps (this would include all foreclosures).  I know this is true in Missouri, but I am not 100% sure it is required in Kansas or the rest of the country.  In Clay County Missouri, for example, all of these listings are published in the Kearney Newspaper.

Before you pay some national company for this information, I would give your local county assessor a call and see what they recommend.

 Thanks, ill contact the counties in NE Kansas I am looking into for what they suggest. I am in process of finding the local papers where foreclosures are list, in pretty sure that KS is similar to MO about posting auctions. Appreciate the help!

I have found a couple websites and search engines that all pretty much require paymemt. I am looking for recommendations before i decide to sign up and pay. Thanks

@jrt. I believe that he is just using what the county appraisal was last year for a price point

  I have been trolling BP for a couple months trying to find my niche and start investing. Today, on my way to the grocery store I noticed a property that came up fsbo that might be able to get me started in investing. I do know exactly how to play the situation and was interested in suggestions on how to move forward. Here are the numbers: 

2bd1ba 933sqft asking 82K. It is currently a rental being rented at below market rate (695-725). The 2b comps are in the 50s and the seller alluded to owning the property for a while (might have some good equity built up). 

I am meeting with the seller later this week to see the property and am interested in what you guys think. If anything i can use this situation as an educational tool for the future. I really appreciate any input, thanks!

Fantastic flip both on aesthetics and financials!!! Great work, looking forward to info on the triplex