All Forum Posts by: Paul Sullivan

Mike - First, I commend you. You've probably taken more actual steps forward than I have at this point. But one piece of advice that I have picked up on is too many bad deal early in your wholesale career will kill your credibility and end your career. Maybe I'm being too cautious, but I'm being patient, looking for clean deals and work on building my reputation.

Curt is right. This has disaster (as in legal disaster) written all over it. You and the seller are not being straight with each other. He's holding back information about the property. You are holding back information that you intend to flip it to a rehabber.
There is no "deal".
I'm new at this, just like you, so I know how hungry you are. But I say walk.

If you are fond of your knees, I'd hire someone. Should only cost a couple hundred.
It seems very common in rental units. I see it a lot and it's a big trip hazard. So definately something you want to fix.

That's a good thought. You might just tick off someone who's already distressed.
I would think you could use a PO box. Also, I know near me, there's a Regus office suite and for about $99 a month you can use their address, receptionist, and occassional use of meeting rooms.

I can't speak for FL, but I know in Mass you can't close without a current Title 5 (Mass's reg) certification. Which I would think puts the burden of an inspection on the current owner. Even if FL doesn't have its version of title 5, if the owner and wholesaler are serious about selling they would pay for the inspection and show it's up to code.

If there are no comps within the past year, what are you basing the 100K on? Current listings?

If I can just weight in with one more opinion . . .
Definately speak with attorney who knows medicare regs. While I'm new to real estate, I know a thing or two about medicaid, and I'm with Bill on this one. Medicaid is like welfare, you have to qualify with a certain lack of countable assets; ie, you're broke. Selling this woman's home converts it from a non-countable asset to a countable asset (cash), dis-qualifying her from receiving benefits. Even if you transfer it out of her name, you could trigger (in most states) a 5 year "look back" period, still making it a countable asset.
Frankly in my opinion, selling this house while this woman is still alive is actually doing her, her family, and the POA guy, a disservice.

Hi Greg,
I am in a similar boat here. As newbies we keep reading and researching, looking for the magic bullet that will make it just happen. But success in anything, whether it's real estate or starting a business, comes down to a process and not one event. Identify the key activities that will produce the results you're looking for and make it a daily practice, even it's only an hour, of doing those activities daily. You almost want to take your eyes off the big picture for a minute and ask yourself, what one activity you can do right now to move in the right direction.
Good Luck. I'm right there with you.

The house sits on a concrete slab so no wood. They say it will smell stronger for couple days but will disappear after that, guaranteed. Hereis their website describing how their system works. http://www.chemdry.com/services/professional-carpet-cleaning/pet-urine-odor-removal
Hope it works.

There's several products out there that work the same way. PURT is simply ChemDry's proprietary product. A lot will depend on how's it's applied and the steps the techs take. If they are just spraying on a product, then I stand by my statement that $550 is a little steep.

I own a carpet cleaning company and $550 sounds steep for one room unless it's severe. There's several ways to treat pet urine. Did they mention what steps and procedures they are using? Are they just treating it topically or are they pulling up the rug and padding and sealing the sub-floor?
Also, I've never heard of a cleaner making the urine "outgas". You need to find and treat the source.