All Forum Posts by: Ed L.

Just saw your post...

Try to close this one already lol..

I've had some excellent showings.. Had 3 showings on Wednesday.. Had 1 today also... Couple repeat visitors checking on financing....

I really like the house and the shop out back... I'm trying to convince the wife to keep it... Sell our current home and live debt free.... Or possibly use the difference to buy 3 more rentals in the area...

Non producing debt is a big turn off to me these days.... I want my borrowed money to be working it's *** off for me....

It would also be nice to live in it for 2yr and avoid the taxes when reselling.... Don't really need the extra income this year...

Unfortunately my wife only moves in one direction, and that is UP.....

Thanks for the words of wisdom... Turns out the Hag was bluffing..

No lien was found during the title work and we are green light for tomorrow.

Not much sleep tonight!

Demond,
If you are in East Tx check out Shelby Savings... Great small town bank with open minds.

South MS...

Pretty much flat throughout the whole recession... The only run up we experienced was due to inflation and Hurricane Katrina... The latter has corrected itself slightly.

Demand for SFR is good.. Unfortunately most landlords are crazy and seem to abide by the 1% fast track to bankruptcy....

Sales are steady, but slower than I like...

Good Foreclosures are drying up it seems, and the remaining 80 on the MLS are mostly dogs..

My local land bank will do 80% of appraised value on raw land. Interest rates are very good.. I've heard rates quoted in the high 3% range for established investors I work with.

I'm working on the biggest single transaction of my RE career...

My RE brokerage is brokering the deal... I'm representing the buyer and one of my agents is representing the seller.

After 3 Hours of negotiations we finally come to a agreement on price.

It's a all cash deal set to close next Friday... No inspections, no contingencies, no headaches it seems....

Then my listing agent tells me of a wild story about how the seller had requested that he hire a cleaning lady last summer to straighten the camp house up..*Large Land deal with camp* 1,500 sq/ft

He contacts a cleaning lady and ask for a estimate on what it would cost to do a basic clean up.... Just make the beds, dust, sweep, basic, basic stuff... She says that she doesn't like giving quotes without seeing the house first "understandably"

She then gives a ball park estimate of $200.00

Seller said that would be fine, so they gave her directions to get started....

Agent actually went by while she was there to check in.. Cleaning lady was doing her thing and didn't say a word

Then the bill comes in to the office... $1,000 FOR 8 HRS OF HOUSE CLEANING...

Understandably seller refuses to pay such a ridiculous price for such little work..

He sends her a check for $400 which was about 400% too much IMO...

She said that wouldn't cut it.....

So she goes and files a lien on the property....????

Now my Year Maker has a $600 lien Lmao....

I'm not that concerned about the effect on the deal.... The seller will pay it without question if he has to, but it just seems that what she did should be illegal..

I would greatly appreciate some guidance on how to handle a situation such as this...

I greatly appreciate everyones feedback...

Starting to get some from the showings also.. Very positive so far..

Had one agent in particular that has shown the house three times to the same client...

Called her this morning to discuss things... She said the client loves the home, but she "The AGENT" & the clients mother both feel it's too much home & yard to upkeep.

Been in Real Estate for a while now and this is the first time I've had a agent confess to **** blocking me on a deal...

Should I send out a member mail to all the agents offering a selling bonus??

Or directly offer free yard care for 2yrs for that particular purchaser?? Would probably cost 2G's at the most..

Look into the 179 tax deduction... Not sure if it applies for 2012.. Basically you can write off any business related equipment in full on the year of purchase...

New vehicle should fall under those guidelines..

I purchased a barely used Polaris Sportsman XP & a New 14' trailer last Christmas..

I really wanted to build a work shop at my Office building, but apparently a shop falls under Real Estate and has to be depreciated..

Thats the best indication you could ask for! I say go for it.

supply and demand! My market seems to be saturated with apartments.... SFR tend to do be a much hotter commodity....

I still can't believe how many gigantic apartment complexes this town of 50K can support.... Makes no sense imo