All Forum Posts by: Richard J.

Welcome! Home Staging makes a tremendous difference... we utilize it with our homes. -- Dawn

Try kimclass.com she will hook you up with BPOs

Nationwide Appraisal and Title Management

Fax 888-416-1626 Christine Sharp

this is old info. surf BP for a forum about BPOs I posted some info for Transunion MDA

Good Luck to you. -- Dawn

I agree. It depends on the integrity of the person doing the BPO. I have noticed a trend of BPOs of shortsales that end up at Trustee Sales with Opening Bids above the SS List Price. Banks want to get top dollar, can you blame them? I have been told by agents that CalRedd is easier/faster for BPO pricing than most local MLS, the quality of the BPO is directly related to the experience of the agent in any given area. Most areas in this market are a street by street pricing or neighborhood by neighborhood at the least. An accurate BPO is not as easy as one might think, it does take effort and consideration to be as accurate as possible, not everyone is willing to take the time. -- Dawn

ARV
Buying 1998 to 2009 , not too many repairs, nickels and dimes. One home a 1998 we did more work than usual but still came out on top. We very rarely get inside, although we can usu. peak in the windows, some folks actually let us inside, we are always very pleasant to occupants, they know the game. We are honest with them and let them know our intentions. We avoid buying tenant occupied properties. Delinquent home-owners usu. know when the free-lunch is over. We work with them and the actually help us sell the home(s).
-- Dawn

There was a time when I bought with absolutely no consideration of the 50% rule. I bought on instinct. I knew that I was getting a great price compared to current market values, I knew that values would go up in the near future and I knew that I would have a positive cash flow. I made enough money that I did not have to worry about the nickels and dimes, the write offs were good and I cashed in when the market popped. Doesn't mean the investor/landlord is not as smart as you, maybe he or she does not need to worry about the rules or doesn't care to be strapped down by them? -- Dawn

We are open minded. Our preference is:

1) 1998 - 2009
2) 4 bedrooms
3) Best schools area (higher demand)
We do a 75%, esp. if occupied, but we do use variables.

if we go with older homes, we will do a 50% to 70% depending on if occupied or not.

We have an advantage. No listing commission, so you might want to go up 3% from our figures to compensate.

We have been very fortunate thus far. When occupied, I treat the folks with respect and I have had full cooperation on vacating. I do not pay cash for keys, instead, I let them housesit for me and give them the time they need to vacate. I charge them a deposit to stay, not rent and I create a caregiver agreement with clear cut terms. It creates a win/win.

Best of Luck!
-- Dawn

to do full inspection of the house to determine if the roof is in good or bad condition, if the AC and furnace units are functioning, etc.) These items play a huge factor in the value of a home and by the investor providing this information to the BPO agent, he/she is assisting the BPO agent to do a proper and full job.

Will, I cannot believe that any agent would give any kind of relied upon opinion on a furnace/AC? A roof, maybe mention the visual condition, but to imply that with a Interior BPO you get some kind of detailed Roof and Furnace/AC analysis is a bit much? I'm sure that you will correct me if I am wrong? Even appraisers do not do that?! Yes, I am out of the loop, but let's be reasonable. That sounds more like a walk through / closing inspection or the 14 day window of Buyer inspections to verify TDS etc. A BPO would not be inspecting the condition of furnace and or AC? would it? Also, I do not believe that all BPO agents list properties. It's a new game, I could be wrong, I only speak from my limited experience. Nothing more/nothing less. Some guys might look good with boobs, ya' never know! I actually knew someone (indirectly) that used the 2nd to get some big boobies to please an immature male, yes.. maybe defensive, but real! Where would we be without personality? Bland, bland, bland!
-- Dawn

I just love all the great advice and generous posters here on BP. I've not had to do any marketing in years, but I am developing a non-profit and I will need to market it and here is a wealth of information that I would not find elsewhere! Thanks to all posters!
-- Dawn

Made $250,000 on $750,000 within 6 mos. Fix n Flip. Trustee Sales.

Mistakes: getting ripped off by partners, but even getting ripped off, still made the $250,000.

We will buy and hold eventually, not into losing equity, so prefer to fix and flip and build up the pocket book.

All the Best!
-- Dawn

MDA
Transunion
is a great company to do BPOs for.

I have no business relationship with them.

They pay $42 per BPO, with NO INTERIOR.

have a nice day.

-- Dawn