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All Forum Posts by: James Jordan

James Jordan has started 6 posts and replied 21 times.

Post: Mobile Home park License

James JordanPosted
  • Erie, CO
  • Posts 21
  • Votes 0

I'm new. Just looked on craigslist for MHP and found one in IN which mentioned having a license until 2020. I looked up the state and found a lot of regulations, laws and inspections. I haven't read far enough in my book I'm reading (Mobile Home Park Wealth Part 2) to see if that is a covered topic but wanted to post here and see what kinds or problems MHP owners have had dollarwise and headache wise trying to maintain their license.

This property uses well water but I haven't searched for any other things about it.

One other question about licensing, would everyone agree it's better to have city supplied services or is this a big depends on your experience as a MHP owner answer (like wells, trash, sewer plants, etc)?

Post: making fun of listings

James JordanPosted
  • Erie, CO
  • Posts 21
  • Votes 0
Originally posted by @Jean Bolger:

If you do get your license, you'll have plenty of interesting photos of your own. My favorites are the armless mannequin I met in the dark cellar and the room full of severed heads (OK, they were animal heads, and they were stuffed, but it was still freaky AF)
FYI if there are known material defects with a property (foundation, etc) then brokers/sellers  in CO are required by law to disclose. So if there is a  foundation issue in that house (I don't think I'm seeing what you're seeing in that photo) then it will be in the seller's property disclosure, or if it comes up in the buyer's inspection then the buyer can choose to walk or renegotiate the price. 
Remember, money is made in real estate by solving problems. If you go into your search looking for a house that has no problems, then you are thinking like a retail buyer and will pay retail pricing. As an investor, you WANT that minor foundation problem, or that cat-pee carpet, or that ugly decor. So maybe your agent is right.

I've set some limits for myself as a novice. I'd be happy to meet someone at that property who has been through major foundation problems. I'll learn from them and offer a plane ride as a trade. Interested?

Post: making fun of listings

James JordanPosted
  • Erie, CO
  • Posts 21
  • Votes 0
Originally posted by @Jean Bolger:

If you do get your license, you'll have plenty of interesting photos of your own. My favorites are the armless mannequin I met in the dark cellar and the room full of severed heads (OK, they were animal heads, and they were stuffed, but it was still freaky AF)
FYI if there are known material defects with a property (foundation, etc) then brokers/sellers  in CO are required by law to disclose. So if there is a  foundation issue in that house (I don't think I'm seeing what you're seeing in that photo) then it will be in the seller's property disclosure, or if it comes up in the buyer's inspection then the buyer can choose to walk or renegotiate the price. 
Remember, money is made in real estate by solving problems. If you go into your search looking for a house that has no problems, then you are thinking like a retail buyer and will pay retail pricing. As an investor, you WANT that minor foundation problem, or that cat-pee carpet, or that ugly decor. So maybe your agent is right.

Post: making fun of listings

James JordanPosted
  • Erie, CO
  • Posts 21
  • Votes 0
Originally posted by @Christy Gaines:

I love this target rich listing in woodland park Colorado.  With rooms I've dubbed "the wall of mullets", "a tribute to indoor smoking", and "why no, this isn't a grow house.  Why ever do you ask?" 

https://www.realtor.com/realestateandhomes-detail/...

I think my absolute favorite though is "oscar the grouch finally gets his place of honor, Italian style" 

 That's funny. Some of the comments on the blog, http://terriblerealestateagentphotos.com, are just humorously insightful :) Your find there in Woodland Park should be added onto that blog.

Post: making fun of listings

James JordanPosted
  • Erie, CO
  • Posts 21
  • Votes 0
Originally posted by @Michael Plante:
Originally posted by @James Jordan:

Here's another one I actually looked at and here are the agent notes about it. Look in the red circle. The basement caved in almost a foot. If you see the word scrape and AS IS I think that's very passive-suggestive.

 I’m not really understanding what you are pointing out

The first one per square foot isnt hat bad so offer a little lower

The one with the potential sink hole, when you get your real estate license how would you list the house for your client?

It's one picture in the listing and highly suggestive that from that one picture you're going to get your money's worth.

When I get my real estate license I hopefully won't ever be the agent that lists trash for sale. MLS is a listing service so list away but who in their right mind wants to show that? I think my agent said she would have to sign a waver to go inside. I just looked through the windows.

I was just noticing things. My agent said I should get a niche and be the go to rehabber for foundation problems. That made me laugh :)

Post: making fun of listings

James JordanPosted
  • Erie, CO
  • Posts 21
  • Votes 0

Here's another one I actually looked at and here are the agent notes about it. Look in the red circle. The basement caved in almost a foot. If you see the word scrape and AS IS I think that's very passive-suggestive.

"Ready set go! This is your chance to own in the desirable Erie Air Park! Homes don't last and they sell fast! This one needs work! Earn your equity or scrape and build your dream home. SOLD AS-IS. Walk-out basement. Access to the air park and run way. Agents and buyers to verify taxes, zoning, HOA, SF and Schools. Don't wait or you'll miss out again!"

Post: making fun of listings

James JordanPosted
  • Erie, CO
  • Posts 21
  • Votes 0
Originally posted by @Juli Becker:

I had to look at that listing twice! Did it really say $245,000 for that tiny house? Colorado must be experiencing a real estate bubble. Wow.

 It did say that and there was only 1 pic and a note that the home needed some fixing up. Some of the things I've seen for sale here are just mind-boggling.

Post: making fun of listings

James JordanPosted
  • Erie, CO
  • Posts 21
  • Votes 0

I'm really just a new guy in real estate but I have an attitude so after looking this morning for what's new in my market area that has the keyword "investor" in it, I found this http://www.recolorado.com/homes-for-sale/12647-Cou...

I wish I had my real estate license (which I think I will get someday soon) so that I could make a comment on the property's potential for selling based on what the agent listed. I'm actually glad I can't do that in this case now but I will make what I consider appropriate offers myself so that I don't have to bother my agent so much. I must stay positive.

Send me your real deals!

Post: New construction in Denver

James JordanPosted
  • Erie, CO
  • Posts 21
  • Votes 0
Thanks Bill. I’ll do that!

Post: New construction in Denver

James JordanPosted
  • Erie, CO
  • Posts 21
  • Votes 0

Will not