All Forum Posts by: Account Closed

@Dion DePaoli , @Jon Holdman ,

and @loretta steele

Hopefully you have an answer to this... when the buyer opts for lender to impound tax, is that tax amount (and/or insurance -assuming that's an option) charged interest with the rest of the house purchase?

@Joshua Dorkin and Joel, sorry... i should have been more specific... in my search my father-in-law came up as a recent active... out of over 100 members, he was on the first page (maybe 10th member)... I know he's not too recent (depending how that is determined) since he passed away earlier this year and probably has not been on the site since the beginning of the year at best.

perhaps logins and/or frequency of logins is what I was more concerned about than posts... you're right... posts don't necessarily give much weight other than "activity level" on the site.

this noted, I just wondered whether recent activity was working OR maybe how it determines if a member is recent... however, the other question would be the criteria for "recent activity" status for a member.

ANYWAY... nonetheless, it's a definitely great feature that allows users to connect locally. Again, great value add to the community! thanks Joshua and BP staff!

good add... i'm not too sure if it's working properly (or if it's just me)... actually, might be the db... i do a search by active and what turns out are the "most active" in my zip code...but sadly, it's not quite recent... on the first page alone i find 0 post people... i guess they ARE the most active in my zip, just not current AND near... maybe put in some criteria such as active in blog and/or post/login etc...

just my $0.25... great feature to have... look forward to finding actives in my area!

if you see earlier posts, you'll see it was a typo (autocorrect thanks to "smartphone").

that said... the time hut can also be where you read the paper or ipad/tablet while taking care of business...

I thought this thread was about good/bad places to invest... not good/bad vehicles to invest in. CLOSE i guess... while we're on the topic of random discussions.. Nothing tastes as good as fit feels! I had a great workout today!

exactly the point... when you figure out how you'll rehab it while you're in it, that should give you a better idea if you first intend to sell it or rent it... the challenge is how much do you plan to rehab it? if you're in a bubbling market, you're taking in risks of the unknown of when the market will begin to decline (and by how much)... out here in cali, the market is bubbling... if i were to buy today and sell next year.... i'm hoping that the market will still be hot... if not and i rehabbed to impress, depending on the numbers, it might become my home for a while or i may be subsidizing a renter for a while. neither situation i'd want to be in!

in my case, the best time to buy w/your intent/strategy would have been last year! another question (as they say all re is local): are you in a buyer or seller market for the area you're looking? how about the surrounding areas? knowing what cycle you came from, in, and going to be in can help alleviate some of the risk...

i see... just wanted to also add:

you might want to work with current market rentals by checking craigslist for rentals in that area...

quck question...

is the way you rehab it going to be the same way you will if were to strictly sell vs. strictly rent out? if not, what is the diff in costs?

Mine was buying with (and in) the herd at a 20% below market value property in 2006... nevermind that that was during the peak of the market hype. what was my lesson? several:

1. don't trust the herd;

2. know what you're doing (know the numbers and your market);

3. "20% below market" isn't a deal when you don't have context... 20% below current price at the peak is not the same as 20% below market in a buyer's market... knowing what cycle you're in provides great context!

4. did i mention not knowing the numbers?

5. i was SO beat down (along w/some very poor herd mentality investments in other things) that i am now committing @Will Barnard 's other mistake of spending 4yrs - currently in 2nd year - of wanting/planning to get back on the horse before really doing it (again).

6. working backwards from goal to action steps and committing each day or regular period time per week towards attainment of that goal - while consistently networking... working on that now... :)

7. and lastly... knowing the numbers, the market, the area, and the numbers - practical and on paper.

Hi Michael,

just some quick questions:

1. what kind of renovations will you have to do, and what are some upcoming reno's (1-5yrs)? - implied questions (condition/age of: roof, doors, windows, trims, boilers, electrical, plumbing, units - leaking/mold issues/ etc etc)

2. how old's the property? (will affect above)

3. why is the owner selling?

4. have you gotten in touch with the owner/broker? can you access actual #s or is this all proforma?

5. how's the rental rate in the area comparable to your units (what range)? and how are you determining this?

6. how familiar are you with the area? A, B, C, D class? are you familiar with the demographics and target renters?

7. what's the inventory like for rentals? (rent vs. own)... etc.

While I don't expect you to the questions above, I know that I'd personally want to have that information down pat as part of my DD. #s can always look good on paper, but the more practical questions/issues that you'll have to deal with can help determine if you have a dog or a deal.

Congrats on expanding your comfort zone!