All Forum Posts by: Jerry R.

This is a distressed property and the listing price is not ARV. They did take into account that it needs rehab when they priced it.

This will not be a quick flip (as most define it) as I will rehab it then sell it. My numbers usually allow me to wholesale it or sell below retail if I want to hold a little longer.

I am now cherry picking these as you suggest and have 3 under contract from the MLS.

I am not too concerned who has the listing, new agent or old-timer. If they don't want my offer I can just move on to the next. This is the furthest thing from a sellers market here. Any agent should be happy to have investors down here.

Thank you Scott,

The bank countered at full listing price and my initial offer was at 87.5% of that.

I intend to submit my counter just a hair higher and see how it goes.

After pouring over pages and pages of posts today in the short sale forum it looks like most people shy away from short sales on the MLS.

Although I can understand some of the reasons why people stay away from these, I am hoping to be able to do these once in a while.

I do have 3 currently under contract. In 2 of these I am working with a buyers agent. The other one I am working with the sellers agent.

Working like this is there any room for negotiation or am I at the mercy of the listing agent?

Am I able to get a copy of the BPO? Can I submit my own comps and property condition report to justify my offer?

I was countered (verbal) by the bank on one of these and their counter was just a little too high for me to accept. I am waiting for the hard copy of the counter offer so I can re-counter and hopefully meet in the middle.

Any advice?

I know this is an old thread, but interesting so I em reviving it.

So Corry, it sounds like you are listing them on the MLS before you even have SS acceptance? I understand the successful closing part of the disclosure, but am not sure how one lists a property without having acceptance on it in the first place?

Guilty until proven innocent.

What a farce

I am in the continual process of creating and updating systems to get things done effectively. However this is going slowly as that in itself takes time. However I am getting it done bit-by-bit and figuring out how to get other people to do some of this work for me.

I work off a daily to-do list. Some things are priorities I wish were not, but nonetheless need to be done, so they automatically make the list.

Those tasks that make me the most or in some cases saves my money are also on the list.

I always try to leave room on the daily list for something less productive - otherwise these "other" things never get done (paying bills, reading, researching, visiting BP, etc).

I have a set number of tasks that I want to get done in a day. I plan those out in the morning (many people that do this the night before). Then I do them. I usually try to get 6 of these tasks done every day. Since I have been focusing the number of must-do-tasks to 6, I nearly always get them completed. Many times the number of tasks end-up being more like 7-9 due to pressing priorities.

Before that when I was just using a to-do list of priorities without daily goals I would not know when to stop working and be able to spend time with my family which ultimately is my #1 goal.

Condenser theft is very common here in SW Florida so there are a lot of people installing cages for cheap. My costs are $200 - $250 installed.

Look on Craigslist. In my area there are bandit signs for A/C cages literally everywhere. Look at the supermarket bulletin boards also.

That stinks about the RTT in PA

I hope someone challenges this in court.

The PA dept of Revenue's interpretation of this type of transaction does not appear to be based on the facts of the documentation.

You are selling your rights to purchase the property and should only be taxed on your assignment fee.

I had an offer this morning and another one a few days ago on properties that were pulled off the market.

This issue has many different aspects, so it will indeed be interesting. One of the most disturbing is the accusation of fraud of the banks in forging documents in order to proceed with the foreclosures.

Congress has tried to rush through HR 3808 which basically is going to let the banks off the hook. Obama vetoed it, but watch for it to come back.

Good ol' Brian & Frank discuss it in this short video:

https://mail.google.com/mail/u/0/?ui=2&view=bsp&ver=ohhl4rw8mbn4

Cool,

Thanks guys