All Forum Posts by: Account Closed

A bit late to the party on this thread. My experience has mostly been with bidding on and purchasing REO's listed on the MLS. 10% ROI is tough now, three years ago, it was tough also. These days over 8% is doing really well.

My advice is a little different than everyone elses.  Buy something very modest with cash that you can rent out for a year or two and flip. Leverage is risky, cash is king. 

Actually try to do exactly the opposite, purchase for under value. Been thinking of a 1031 myself, and your thread highlights my biggest concern with it, buying into a bad deal just for the tax benefits.

Back to the original post, suspect Dodd Frank did just the opposite, create more seller lending, by putting constraints on the secondary market, loan originator compensation, the list goes on.           

Every area is different, last go round CL was a complete waste of time. Realtor.com, was slightly better, 95% of traffic from Zillow rental manager.  

Weird, reminds me of a fellow that asked a girl out on a date, she told him "she had to walk her horse".

  There is more than one way to say no. 

Russell, thanks for your response!   

Yep, every condo board is different, some are a little nuts and some are real nuts! Buying condos is a mixed bag even without them being vacation rentals, seems like another risk layer?     

I purchase CONDO's for better ROI. That said for both stability and long term value, SFD's and Multi's rule. Foreclosed condo's often have less major repair issues though, and cash can be a bigger king, in some cases.

In the past had some success selling properties, offering above average co-op commission.  Many years ago 3.5% Co-op was common in my area, these days it is rarely over 3% or under 2.5%  And there is an added average of $250 ish, fee subtraction. calling that a .085%  commission ding, so for all practical purposes the Co-op commission average hovers around 2.415%.  I keep hearing more buyers are finding their own houses on line, and their RE agent is just someone with keys to the lock box? How much influence do agents have in the home selection process?  If the agent had a great influence, maybe paying them a higher that average Co-op would motivate them more to see the good in your property and encourage their clients to purchase that high Co-op listing? If they have little influence, maybe 2.415% is paying em too much?  Are they going to tell their clients they won't show your listing because your Co-Op is too low at 1.915%? 

My gut tells me, many agents would show the property with the lower Co-op, and either through bias or intent, talk the listing down to their buyers. And paying .5%  or 1% more on the Co-op commission would not be enough to matter. However make that Co-op 5% and than maybe more dollars matter? 

Make it a 7% Co-op and now your cooking with gas?

Thoughts