All Forum Posts by: Raj Kumar

Thank you Jeremy and  Michael for your quick answers. I am thinking of tearing the entire ceiling and replace it with something new that's maintenance free. If that's the case, will your choice be Vinyl, wood plank or plywood? And I believe all of them will need some kind of reinforcements to stick them to the wall.

Please advise.

The commercial building is 30 yrs old and the exterior ceiling came down few days back as it had cracks from the roof leak before. We replaced the roof last year.

What will be cheap and best way to replace the current Stucco ceiling?

Appreciate any input!

When I meant stage, I was only referring to having the open house not furnishing the place. Based on the feedback so far, I am inclined towards letting the open house condition go... Thanks for all your feedback.

@Usha Angou - Thanks. Looks like he is a very busy man, I asked him for his opinion on the rehab and his suggestion for the list price a week back, I haven't heard anything back.

@Bryan.L - Thanks for the suggestion. Can I become an agent within a week? I have a full time job, so have to think about it.

I bought this place a month ago, now rehabbed it's ready to go on the market for around 150-160k. I was talking to a realtor about his marketing strategies, He said he will have a Signage infront of the house, Register in MLS and publish in 57 websites (not sure how). I asked him if he was planning to stage a open house for which he said, he rarely does open houses as he has been successful selling houses without them.

1)For houses in the 150k range, Will the realtors do an open house?

2)I feel open houses are a must to sell the house quickly, Do you agree or disagree?

3)The realtor helped me by providing handyman contacts, so part of me feels obligated to sign with him, but i don't agree with his maketing strategy, What will you do?

Please share your thoughts and experience....

Thanks in advance for all your help

I am a Real estate investor and have been investing in Northen VA (DC Metro), Richmond,VA and Myrtle Beach, SC. I usually do all my research online and let the agents know that I want to see the following houses.I have a full time job, so when I have some free time to see the properties, It was hard to get appts from realtors in the time I want to go. So I was thinking of getting a VA Realtor licence for the freedom and also help some friends to buy/sell houses for a lower commision. Looks like I need access to N.VA and Richmond,VA MLS.
Here are my questions
1)If I do 2 to 3 transactions per year, Is it worth to become an agent?
2)What are the costs in keeping my RE licence active?
3)What will I loose by not using an agent while buying/selling?
Thanks in advance for your help.

@Cardinal: Thanks, good idea.There are new-to-be built houses listed at 180k, so I am not sure how this will work.

My question actually is at what rent does it makes sense to keep the property for cashflow? I am seeing similar houses renting for 1000 - 1400$. I just contacted Amerisave, they are ready to give me 75% loan on the purchase price. The house is in very good shape, but in a not so good neighbourhood.

I bought a 2008 built SFH, 1,800 Sqft in Richmond, VA -23234 for 112,000$ in an auction. PP - 112,00$ Back Taxes -3000$ Repairs - 10,000$ Total Cost - 125,000$ According to the realtor, it will sell for 149,000$, AFter Comission, I will probably profit 15,000$. DO I sell and take a quick profit or do a cashout financing and rent it for positive cash flow. I am assuming it will rent for atleast 1000$. What will you do? Thanks!

It's a Industrial building 1/3 office space and 2/3 ware house. I have talked to the community banks, most of them don't even want to touch it as it's non owner occupied and I live out of state.

I bought a commercial building 7 months back in an auction for 240k(all cash). Now the building is fully rented and has positive cash flow of 2500$/month. But all the banks I have talked to so far(both big and community banks) are telling me they will only lend 70-75% of the purchase price not the appraisal value which I think will be close to 400k. At 5.25% interest rate I can easily make payments on a 300k loan, but no one's offering me more than 180k.

Please advise if there's any other way to take out 70% of the appraisal value other than selling the building...