All Forum Posts by: Mark Spidell

Check out this neat 1930 era brick Tudor near reservoir hill with lots of potential! I already put on a new roof and cleaned out the house and yard (not reflected in the picture). Lots of neat vintage features, especially the rounded doors and entry ways.  I already put on a new roof with decking as well as clean out the house and the yard. 

This area may still be a couple of years out from optimal flipping, so rental, section 8, or lease to own may be your best options. Should demand about $850 per month. Rent ready needs would include:

Foundation work including basement retaining wall and potential a couple of piers
Brick repair on one side and tuck pointing
Refinish wood floors or lay carpet
Some drywall
Kitchen and bathroom improvements to taste, but not full tearout
Interior and exterior paint

Photos:

https://www.dropbox.com/sh/zeg0tfidrotjbwx/AACKHMQpNwCd0E5yL0t3LzcEa?dl=0

I am having trouble in listing properties for sale on Zillow. I go through the FSBO steps and then get the following message:

We may contact you to verify a few details before your listing is published.

In the coming weeks we will keep you up-to-date with reports and tips.

I wait and then nothing happens.  One of the properties I have not owned for long.  Another I have owned for several years.  Anyone have any tips?  There help ticket process has yielded no results.

Thanks in advance! 

The account was already set up to accept payments, so that might have made it easier.

I was in a similar situation a couple of years back when I purchased a vacation rental from my brother and sister in law.  We actually just kept the old account in place and changed the payment settings.  Turned out not to be a big deal, but you do have to educate repeat guests on ownership change.  

I have too many projects!  Check out this neat 1930 era brick tudor near reservoir hill!   I already put on a new roof and cleaned out the house and yard (not reflected in the picture).   Lots of neat vintage features, especially the rounded doors and entry ways.  This area is still a couple of years out from flipping, so rental, section 8, or lease to own are likely your best options.  Should be able to demand about $850 per month.  Rent ready needs would include:

1. Foundation work including basement retaining wall and potential a couple of piers
2. Brick repair on one side and tuck pointing
3. Refinish wood floors or lay carpet
4. Some drywall
5. Kitchen and bathroom improvements to taste, but not full tearout
6. Interior and exterior paint

Here is another way of looking at it.  Let's say that someone asked you to lend them a couple hundred thousand dollars at 4% with a 30 year amortizing repayment.  Would you give them the loan if you had the cash?  No!  Because that is not a very good return, especially over such a long period of time.

@Jonathan Godes

I have a property located in Tulsa, OK that will soon be ready for sale or rent.  I am staying flexible with my exit options and am open to various ideas including potential owner carry.  It is a small home in a up and coming neighborhood near downtown with a list price of $60,000. 

I know that traditional financing on low value properties can be difficult for buyers.  If I do find a buyer, what are some ideas to help the buyer successfully find financing on a low value property?Does anyone know of a mortgage group that has had success with this type of situations? Perhaps any Credit Union suggestions?

Thank you in advance.

@Janie Whitehead I sent you a message.  Feel free to reach out if you want to discuss what I sent or talk about other opportunities.

@Johnie Hopkins are you still happy with Real Acquisitions?  I am considering using the Dallas service.