All Forum Posts by: Jerry R.

Quality 3/2/2 from $600 a month. Want a inground pool in a lanai and a home only 3 years old? That will cost you a whopping $750-$850

Let us know how you do.

Good luck

I would like to comment just because I am trying to learn how other people approach figuring out their costs, negotiating, etc.

You figure the value is 245K. To me, that means you can buy a comparable home in the same area for 245K - and one that probably does not need a new furnace and one that was not empty for 2.5 years.

Or did you take that into account to bring your market value estimate from 260 down to 245?

Hello Marc,

Welcome to BP.

Although I live in WI, I do all my buying and selling in FL. I just moved from land only to now doing homes in the greater Fort Myers area.

It's hard to imagine prices getting much lower than they are here now.

With the wall wet, how often is the sump pump running? If it is running all the time there is simply too much ground water - this is the problem I am having.

If your pumps not running, but your wall is wet, perhaps the water is not reaching way down to your drain tile. This is just a thought. If you have high clay content, could this be whats happening?

I am not sure if adding gravel to the window wells will help as I have no experience with those.

I did a lot of research on the french drain system which is basically burying a perforated drain pipe about 24 inches deep and pitching it toward the low spot of the lot.

Water tends to move through the ground horizontally and through the path of least resistance. The drain offers the fastest path for the ground water to travel.

If you do a search on french drain system you should easily find some articles by askthebuilder who explains it very well.

Is this a home without a sump pump?

The first thing is to make sure the soil slopes away from the home and gutter/downspouts are in working order.

Other than having a good working sump pump, other methods I know can be hit or miss in effectiveness.

Some people have had good luck installing a french drain system in the yard to carry away excess water to the low point of the lot. If I were not currently selling my home I would be installing such a system myself.

G.D. is spot on.

You can also hold the property for 4 years while paying the taxes.

Wow Steve,

I did not realize that an inspection report was needed to back out.

I have not dealt with an REO property yet (I have the same concerns John has), but this is the first I have heard of this requirement. Is this required everywhere?

Thanks Ken,

That was a brilliant response.

Hi Jeffrey,

Although it should probably be a topic of it's own in another forum, I'll give you a brief answer.

I still wonder why investors would not scoop up the REO's on their own, but yet I hear it happening all the time. Plus if I get in good with the listing agents, hopefully i will be able to get the props under contract before anyone else.

As far as location, yes many areas change in jut a few blocks. That's where having good team members in the area in needed plus I've already scoped out in person the areas I will be investing in so I have a decent idea on the different areas.

My hope wit the general contractor is to include his bid with my property sale. That way his names on top. Plus if it takes a few bucks for the bid it's all good and just an expense of doing business.

The key is getting people you trust and making it profitable for them to work with you.