All Forum Posts by: Rodney Marcantel

@Katie Neason, not everyone pays 6% although that's the norm. My power team RE agent and I have negotiated 5%. So maybe @Belinda R. can negotiate as well if she hasn't done so already.

First you need get a permit from the city to move forward and then hire licensed contractors to get the additional square footage permitted so you can market the extra space. Might want to get a structural engineer to look at it and make his/her recommendations on foundation and roof. Then you can determine if it's worth the cost to add the space. Also, don't forget the cost of additional HVAC needed in the space.

If the Structural Engineer gives it a go without much cost for foundation (additional piers) or more structural reinforcement on roof and your cost is half or less of the ROI for adding the space, then I'd move forward with the added space work.

Our RE agent purchases the first year home owners warranty against any hidden issues. Covers electrical, plumbing, termite, fire, appliances, A/C and more. If you don't have an RE agent that does this for you at closing, then find another RE agent as they will fight for your business and give more or ask your current RE agent to begin providing a home owners warranty for the first year or you'll part ways.

Most agents will do this for their own protection too against selling a bad home.

Probability and Marketing Software? For marketing, use your RE agent. That's what they are there for. Probability can only come from software analysis and what you put into it to derive at conclusions regarding purchase, rehab, holding and RE fee costs.

Nice job on the updates. Beautiful home. How did you get this home? Just wondering.

Hire an agent to market and sell for you. It's the best and least costly way than what you're doing on your own. 4 weeks and no offers has to start hurting your carrying costs.

Can you send the address so we can look at your work?

Can't ever discount windows. It's what everyone sees and sees through. Double pane will be a good selling feature and should help during inspection to prevent delays.

There's no home with that address in Rosewood, SC. The correct address is 

3921 Capers Ave, Columbia SC 29205

http://www.trulia.com/homes/South_Carolina/Columbi...

Looks like clearing out that overgrowth of trees and brush would help the visual appeal a lot. No matter what you do, curb appeal will hurt you on this house if you don't put some money or sweat equity into the front of the house.

If you're city OK's rentals, then I would consider the addition on the house depending on ARV and comps. Remember, always work to 5 or 10% below comps for your ARV numbers if you can justify the margin.

@Brian Eastman, you are right but my point was that to protect you as the investor, an LLC is very much required, else you risk "self dealing" and IRA scrutiny. IRS penalties can be as high as 40% on top of ordinary income if they find that you've been self dealing.