All Forum Posts by: Sorin T

Thanks guys for all your responses. I am aware of the 70-75% formula and have applied it myself so I reached approximately the same numbers as you. I just didn't know if that applies also to higher priced properties such as this, as opposed to only the sub 100K market.

As far as why it's been sitting on the market for so long... it's listed but sort of hidden so I would guess 90% of locals are not aware of it so I'm hoping that will work to my advantage... can't say more at this point but will keep you updated. BTW, I tried to be VERY conservative in both ARV and repairs amount to save myself any surprises so we'll see

Thanks again for your input.

Can you guys please tell me how much would YOU pay for this deal? REO property on the market for 180 days with no offers, asking price is 176K, ARV 225K, repairs around 25K.
I plan to hold it for around 90 days to do repairs and to meet seasoning reqs, and finance it thru a HELOC if it makes a difference. How much would YOU pay for it and how would you structure your offer to the bank so it has greater chances of acceptance? Thanks

Uh-oh, big surprise: NAR has fudged up data to hide the magnitude of the collapse:

http://news.yahoo.com/s/nm/20110222/ts_nm/us_usa_economy_housing

Brad, Jesse, Q for you on altisource. I wanted to bid on one of their properties but it seems they have a reserve price set (that you only get to see after you register, and ready to bid) and you're not allowed to bid or make an offer under that reserve no matter what. Have you figure out a way to underbid that or just wait for it to drop? If so, how often do they seem to be dropping that reserve if no bids are received?

Hope you guys are reading this, with the thread being over 1 mo old

Good reading
http://online.wsj.com/article/SB10001424052748704570104576124502975117950.html

I can't help wondering if the 1mil+ properties abide by the 50% and 2% rules... and so on

Good info, Mark, thanks. But, is that typical? I remember, when I was single in my 20's, I couldn't seem to live more than 12 mo in any one place. That was, until I bought my 1st house...

OK, here's the deal. I have my sight on a triplex with 1X2br apt, 1X1br apt and 1Xefficiency. I am concerned that prospective occupants of efficiency and 1br apt might be less stable (read more inclined to "migrate") than occupants of 2br apt (small family, etc). Is that right, do you guys with extensive experience find this to be true? From that perspective (rent amounts aside) is it preferable to find multiplex buildings with 2 brms rather than 1brm or efficiency? Price aside, of course, I'm concerned here just with stability of tenants? Thanks for your input

Good reading

http://news.yahoo.com/s/bw/1106b4214044575550

As their holdings of unsold homes increase, Fannie and Freddie eventually will need to drop prices and turn to investors, analysts predict

The bottom line: Fannie's and Freddie's strategy of not flooding the market with foreclosed homes may come under pressure as their inventory builds.

Try zabasearch.com, also free.

Awesome video here
http://www.youtube.com/user/fiercefreeleancer