All Forum Posts by: Matt Overbee

Hey @Sharad M. ,

That the difficulty I'm having, is finding a lender that will close with only doing the air pressure test, and not fully turning the water on. I've been making calls the past few days to try and get one nailed down.

Are you familiar with any lenders that could refer that will do this that you could message me?

Thanks for your input.

Hi all,

I've been trying to prep to purchase one of these Hubzu auction REO properties. Finding a lender that will close without turning water on (hubzu policy) has been challenging to say the least.

I read somewhere about some people just turning the water on in their own names (buyer name) for inspections/appraisals. Is this unusual, or fairly the norm in your experiences?

Thanks all for your thoughts.

@Chris Martin Hey Chris, any lender you would recommend that would accept the air-pressure test in lieu of the water being on?

@Derek Martin 

Hey Derek, I'll message you with details.

Hi,

I'm interested in purchasing a property on Hubzu (I'm aware of the many challenges of dealing with them).

The property I'm targeting is an auction that will also accept conventional financing. The trouble I'm having is getting a loan if the water won't be turned on for the appraisal.

Is anyone familiar with conventional lenders that will accept an appraisal that will be done with the water off?

Thanks in advance for any suggestions.

Congrats @Brie Schmidt !!!

That's very inspiring and where I hope to be in a few years.

What was the "inflection point" for you? Having steady Cash Flow established, the establishment of your teams, the portfolio that is in process? What was the deciding factor that now is the time?

Hey Josh,

Have you or do you plan on joining an Association as well, or are you strictly looking to just hang the license somewhere?

I recently got my license as well, and am sponsored by a local brokerage near me who I think has a really good setup for an investor looking to only use the license for his own purposes. You have to join one of the Realtor associations though, like Mainstreet who I joined.

Let me know if interested, I can message you more info.

Yeah I would say the click together probably is best if you're willing to pay a little more. I was trying to stay under $2/sqft, so I went with the Allure glue strip kind @John Semanchuk is talking about.

Repairing wasn't too bad cause I wasn't even finished and noticed the screw didn't set well and was sticking up so I was able to catch it in time.

Otherwise I believe you would have to use a heat gun to heat the glue strip and separate the piece that needs to be replaced.

Hi @John Semanchuk ,

I haven't had the floor for a long time, but I put it in my living room about 2 years ago. With two fairly active dogs over 60 lbs, I will say it has held up like a champ, there are no scratches that I can see and still looks great overall.

The subfloor has to be pretty smooth though... any imperfections underneath the floor may show through if there are any ridges or anything sticking up like a screw head popping up, which I had to fix once.

Yep, it's crazy. Between the taxes and the WEATHER (this year was the tipping point), I would definitely be on the move out if it wasn't for my job and all the family I have nearby.

Part of my REI plan is definitely to grow enough passive income to get a low cost winter escape in a warm climate, thinking Texas, SCarolina, or Florida, and then a summer place in Northwest Indiana to be close to Chicago without the IL taxes.

At least that's the plan! :)