All Forum Posts by: Richard Schubert

Quote from @Jay Hinrichs:

Quote from @Richard Schubert:

Amazing service you’re providing. If someone told me this story I would laugh thinking it was a joke. Wish there was more of you around. 

I’m just getting rolling again from a many year hiatus from investing and I’m more a buy and hold investor. I do look at fixers all the time as a refinance and placing a tenant. Capital is only thing holding me back as it seems right now that deals are falling from the sky after a networking push. Again would be amazing if there was more just like you.

Amazing service you’re providing. If someone told me this story I would laugh thinking it was a joke. Wish there was more of you around. 

I see it now, yes for sure as Theresa said it was probably just to create a little more horizontal flat space behind the house. Rail road ties will be considered hazardous material in many states now . If you do a new wall use pressure treated 6x6 ties. Much easier to work with than rr ties. RR ties can be very heavy. You could just pull them out and taper the soil on the slope down and plant grass. Or build a new one.

I am not seeing a retention wall, I only see a wooden fence. Maybe I am missing something but if you are referencing the fence, that will not stop water flow nor will it be part of a foundation support. A landscape contractor that specializes in retaining walls can replace a resting wall if you have one that I don’t see in the photo. A larger company will advertise they build them. Wood retaining wall is much cheaper than a concrete or stone wall. I used to do that type of work and built hundreds of walls. Let me know if you need anything else.

Quote from @Michael Norris:

Quote from @Richard Schubert:

I have used Foremost on 2 homes I purchased in the last 12 months. Zero inspections, all done over the phone. Not the cheapest but they have landlord’s insurance and some liability all rolled in. 

 Foremost inspected the exterior of your properties and if you didn't hear anything they passed inspection. 

And that is true, they have someone drive by and take a few photos. Foremost is owned by Farmers. BTW , I have replacement valve insured and not appraised value. It’s a 60k home and the sq footage makes replacement value around 273k. I pay 1270 per year. 

I have used Foremost on 2 homes I purchased in the last 12 months. Zero inspections, all done over the phone. Not the cheapest but they have landlord’s insurance and some liability all rolled in. 

Quote from @Alfath Ahmed:

Quote from @Richard Schubert:

Made an offer on a really nice 3/1.5 house in a c+/b- neighborhood in Akron, Ohio. House was priced way under the market at only. 60k asking price. Super nice house with nice landscaping , hardwood floors in great condition, nearly move in ready with new furnace/hotwater/ central air. Came in strong with a 70k cash offer with an escalation clause for up to 76k all within 12 hrs of listing. 2 days later I learn my offer lost out and that they had 29 offers.

Wow, I thought. Who says the seller market is going away?? Back to searching. The competition is really tough right now.

 Akron should not be as tough unless the deal is that good. I would always make sure that you are telling your agent to call the listing agent right away and find out what is the best offer they are willing to take. I have won several outbids this way. 

That’s a good idea, and we tried that. The selling agent would not give us that information. I did learn that the owner accepted an offer of an owner occupant and had said they rather have the house go to someone who wants to live there. Funny is this is the second time I have encountered that in the last 30 days. Another deal I had an offer only 2k under asking, cash, no inspections or appraisal and lost out to a asking price financed with inspections/ appraisal owner occupied.

Thank you for all the comments everyone. Yes, I knew this was priced below market to make an offer war. The comps on this one was around 90k but tended to be towards the nicer end of the area.  And those homes had much more recent updates. Given the block this was on which was primarily mix of decent homes and obvious rentals, and this home needed a few thousand in repairs prior to rent, I did not want to pay more than my max 76k offer. Fair market rent in this neighborhood was 1100.00 on the high side and more realistic was 950 to 1k. I set a number in my mind that worked with my calculations and did not get it. But then again if I offered more than I wanted and did win, I would not have been happy with my numbers. Will keep looking!

Made an offer on a really nice 3/1.5 house in a c+/b- neighborhood in Akron, Ohio. House was priced way under the market at only. 60k asking price. Super nice house with nice landscaping , hardwood floors in great condition, nearly move in ready with new furnace/hotwater/ central air. Came in strong with a 70k cash offer with an escalation clause for up to 76k all within 12 hrs of listing. 2 days later I learn my offer lost out and that they had 29 offers.

Wow, I thought. Who says the seller market is going away?? Back to searching. The competition is really tough right now.

Hello and welcome,Best move I made was taking some time to put a plan on paper, talking with some investors, and a bunch of reading before jumping in. So many resources here. Best of luck!