All Forum Posts by: Peter Lee

Please keep us updated Casey S.

Dido to all that everyone was safe.

Just wondering about the insurance part.

1) Did you have proper landlord insurance policy or home owner?

2) What was the process like?

3) Did the insurance company give you crap?

4) How did they come up with the value of $80k?

5) What happens to the property now, will someone have to clean it up? rebuild on it? Do you still owned the property or the land? Can you walk away?

So, i found an investment property (town house) here in Vegas that meets my criteria.

The deal hasn't closed yet, so, I went to inspect the place after the owners left before I hire my home inspector. My Asian girlfriend happen to be with me and said that this place isn't Feng Shui, so a lot of her friends and family members would not want to ever buy this place.

Main problem was that the stairs going to the 2nd floor is in the same path as the front entrance door, so as soon as you open the front door, if you take a few steps forward, you will hit the stairs.

Pic taken from front door:

The lease / sales data looks fine from what I found on the MLS, but do I really want to limit myself to subset of a demographic by purchasing this property?

Do you guys ever consider these factor as well as non Feng Shui thing when buying a property? ie. property is near power lines, busy streets, backyard neighbor overlooks me, etc. etc.?

Thanks, :)

Thanks Phillip, I didn't see the telephone number before, only the HOA name.

Hi Phillip,

Do you know how to verify how much the HOA fee's are?
I checked the MLS and a few of them within the same HOA, some even on the same street, near the same listing dates too have different amounts usually by $10 - $30.

Coming from a realtor, I'm always skeptical, why.........let's see, it's always a great time to buy! a great time to sell, a great time for an agent to make money!!!

How many times have i heard after selling a house, a realtor says, I could of gotten you much more than that?!?! really? that might of worked for naive sellers.

Not saying that you're one of them, but a lot of realtors that I have dealt with are no good, and don't last in this business. They also have excuses, a lot of excuses.

So Nick, tell us how do you do a short sale properly, and how to negotiate? FYI, we all have access to Google & shortsalesuperstars.com

Is it me, or has the buying demand in Las Vegas soften a bit?

Update.

So, my realtor ask the negotiator for the bottom line net and they came back and said something along the lines of they wouldn't give that information and something about shooting themselves in the foot? Whatever that means. Any ideas J Scott ?

Then the negotiator told my realtor to just submit a counter offer with a HUD? (Not sure why he wants a HUD at this stage)

So, my plan is to submit an offer for $80K and since there are two other comps that sold for $85K (8/1/2012) and another one for $84K (3/30/12) - yes old comp.

Both homes are much nicer, all have 3BD (Mine is a 2+1den), slightly bigger lot, nicer floors, painted walls, landscape and the most recent one that closed even had a tile cover patio.

Update.

The seller's agent says that the negotiator will only take $90k for the house. When I asked for a minimum net, she did not know what I was talking about. I did find out that she's only been doing real estate for 1.5 years now. arggghhh.

When I told my agent, there were 2 others in the subdivision, same sqft, same model that sold for $84k in 3/2012 and $85k two weeks ago (8/1/12) and both were 3 bedrooms, mine is a 2+Den.

She's said she's going to try to talk to the negotiator, I'm thinking she's not. She's been flaky and seems to forget what we talk about.

No, i have not received the net they will take? I will ask my agent if she can get that for me.

All I got was a verbal phone call saying that they want $90k no counters.