All Forum Posts by: Ed L.

For my market you have to be right on the verge of cruddy neighborhood to obtain 2% properties and they are generally subprime reo that have multiple offers. Thanks to the oo periods it's now even harder. Luckily that could work to your advantage if you plan to occupy.

Just submitted highest and best on one today. Asking price was $25,000. Needed $5k light cosmetic renovation nd would bring $700 per month.

5 offers and they were all over asking price.

House next door was listed at the same time. Was almost IDentical spec wise but some college kids purchased it oo for 20k during the oo period. Awfully nice of uncle sam to give those kids a extra 10k in equity.

Congrats in the land deal!

I generally wouldn't touch developed lots, but I've sen some very tempting deals in Florida especially. When the fully developed stuff gets down to raw land prices it's time to hop in and benefit from the last developers forfeited equity.

@joel Owens. Carry cost on raw land tends to be pretty cheap. Subdivision lots will be higher due to mowing, busted street lights,lamdscape maint etc etc. Raw land tends to run about $4-6 per acre annually for taxes. That can be offset by leasing the hunting rights.

The only thing worse than going bust during a depression is going bust in boom times...

Build a emergency survival fund (1yr base living) and don't worry about the what ifs...

I like the idea of owning the block so that you have better control..

Unfourtnately most landlords in my area that own multiple properties on the same block tend to let the tenets run things and they look like hell.

I would charge higher rents and include yard maintenance.. It's amazing what a difference grass cutting can make to the appearance of a neighborhood..

Mike M: That actually cleared it up in my head!

I hope it's a very large home to be getting bids in that range. We are about to replace our first roof on a fix and flip... Prices are about 185 per square for architectural shingles installed.

Comes out to about $6500 for a 1700 sq/ft ranch style home IIRC.

I was quoted $3,500 to replace the roof on 1,000 sq/ft 2ba/1ba rental I have. That was for standard 3 tab composite shingle.. I believe it was about $150 per square IIRC.

I guess that is the price to pay to live in CAL. instead of hot, muggy, MS lol...

I just hate waiting on organic results.. I just noticed my old site is now on page 2 of google for Hattiesburg Real Estate... Only took about 3 years lol...

It's weird that none of the competing brokerages in my area are ranking well on google with the exception of deloishomes.com .. She is ranking extremely well for almost every search term...

That and the luck guy with the hattiesburgrealestate.com domain...

About 30.... As a agent lol...

5 Investment deals..... Just need more rehab properties... Foreclosures are dried, coupled with the 15-30 day OO periods things are pretty slow on the rehabs... Investors are just fighting over the dogs...

Starting to look at different sources instead of foreclosures.. Most recent buy was a estate property.

I tend to add in the capitol improvements to my up front cost.. Unfortunately it disqualifies many/most homes in my market from meeting the 50% or 2% guidelines..

About the only way to find a home that would cash flow is to find a home that needs some capitol improvements that would scare away ordinary homebuyers..

Think I may have to lower my expectations to find sfr's in my market unless rents climb higher.

It seems the H1 changes with the slide show after looking at the source. Will definitely make the slideshow titles more specific to the area instead of just random verbage..

Ned Carey : Exactly what I was looking for!!... Not sure why "Affordable and Adorable was my H1... It should be easy to change out with "Hattiesburg Real Estate for sale" or something more specific..

Did you just view the source code to tell what the H1 is?