All Forum Posts by: Michael R.

Would say realtor would be paid off the sale price on the contract which would be what your buying at. Realtor dealt with you to get it under contract not your end buyer so I dont see why realtor should be entitled to a cut of the markup.

Where im at you can search property by property on the county website and see what payments have been made. It can take alot of time. I find the most motivated people are the ones who are a year plus behind in the taxes.

Lookup Alice Green on here I think she works for them

While I would always check assessed value it is not an accurate figure to determine a homes value. One area I buy in homes go for 20k more than assesed and another area homes selling at 20k are assesed at 65k. Use comps.

I would think with 35k you could find some motivated sellers that will offer you owner financing. I am moving to Fl soon from ny and it doesn't look like you can get deals there in the price range like upstate ny. If I were to move out of ny to somewhere else I would go to oh or in for cheap cashflow properties.

I have drafted my own contracts and I never had any problems. I am in ny and not an attorney. Where can I find this law?

I wouldn't. I still buy on bad streets just not war zones. I have had stabbings raids shootings and murders at some of my properties. While I made money it was not worth the headaches and liabilities that go along with it.
Even if you take your tools daily they will still break into the house. I did pex on one house and they broke in and stole all the brass fittings. If I did it again I would use cpvc.
Resale will be low in my experience. Your buyer will probably be another investor who works that area and is looking to get a deal like you got. If you put on the mls you might be able to get an out of town buyer who will pay more than someone local.
So if you think you want to go with the deal just consider if you want to deal with the police, city. poor tenants, etc. Not saying dont do it. I did good on my slum properties but after a few years I got sick of it.

yeah that interior is rough. I have bought houses that look like this and if you are good at patching walls its not a big deal. It looks like they stole some of the electric wires? That would be a deal breaker for me. I can replumb a house but re doing all electric gets to be to much.
Unfortunately the house might not have been so vandalized when seller took pics. All it takes is one night and a few people to get in to completely wreck everything.

I guess not a bad idea if you are buying in that area. I always get annoyed though when I find people left things like that on my car.

I do 300 or so mailings a month. I sometimes miss a call or am busy and cant take all the infomation down when a seller calls. I have been thinking about using a answering service. Can anyone recommend a good one? Also what are you paying for this service?
Can they give you a local area code?