All Forum Posts by: Ed L.

Unfourtnately everyone seems to do the pools with wood walls and vinyl liners in my area.

The second the water level drops down the liner is pulled lose.

I'm contemplating just filling it in due to the cost associated with fixing it.

My criteria for selling

A) Price

A2) Hire the best Realtor in the Area. The fee difference between the best agent in town and the worst is usually $0. Make sure you get what you are paying for.

B) You are competing with every house in the area. Make sure to have a superior product.

C) Make sure your agent is a preferred member on Realtor.com... I get great results from that site above all else. "Signed a contract and received a 50K ernest money deposit today from a Realtor.com Buyer."

D) Make sure your agent is sending out notices to the MLS members for Open Houses, Price Reductions, Agent bonus etc...

What is the typical fee for a professional photographer?

Never have used a professional photographer or staging company... Feels like I'm missing out on something!

They will make it appealing to noobs by showing the sales price at the auction and the grossly inflated projected sales price.....

With there being so many good deals available I coulndt see the rationale in pursuing this.

In order to wholesale the deal you would probably need to get his bank to agree to short sale it for 60-70K.

If you are buying it yourself it might be worth doing at 75K

The buyer being motivated has little impact on the deal. The decision on whether or not this will be a good deal is purely the bank that has the loan.

The bank has absolutely no reason to allow the short sale as long as the seller still has a job and is able to make the monthly mortgage payment.

I say keep looking.

In my local MLS the buyers agents actually get less than the list agent (60/40 split)... Makes me furious.

It's a equal job and deserves equal pay. Big brokerages with all the listings started the trend and smaller brokerages followed suit.

I think full time RE agents are here to stay. Part time is a dying breed unless it is mixed in with other forms of RE investing.

There is a incredibly high percentage of buyers and sellers who know absolutely nothing about the real estate process.

For a while there I thought the internet might be the end of RE agents, but quiet the opposite has happened.... RE professionals now have a much larger audience of buyers to target and a cheaper form of media to advertise with.

Thanks for fixing the photo links! I was up till 4 am last night and my brain was working 1/2 capacity lol... Just got back from Hawaii and the Jet lag is horrible.

Whats the best way to use the mold as a negotiating tool??

Would it be good idea to have a mold specialist come and do a report and then send the report in with the offer?

I'm not much worried about the mold because the source is clearly definable and easy to resolve. Dead pine tree torpedoed the house with a falling limb.

Below are some photos of a reverse before and after... Hopefully I will be updating this post in the next 3-4 months once it's rehabbed and better than ever.

Little background on the house...

My wife and I were looking to purchase our first home back in 2007. This was one of our favorite prospects, but it went under contract before we could make a offer. Photos are off the MLS from 2007.

Sells price was 149,000 in late 2007... Our market has slowed down since then, but has managed to retain about 90-95% of value from peak....

Asking price is now 46,000 but I hope to buy it for <35,000.

I do believe the idiots that bought the home ruined about every possible aspect.

Pool is ruined. Quoted 6-10K to repair...Single biggest item
Screen porch is destroyed
Front door casing was busted
Leak in kitchen ruined the kitchen floors
They tried painting and got paint everywhere it wasn't supposed to be..
Kitchen cabinets are all jacked up. Salvagable
Falling limb busted the outside ac condenser.
Falling limb poked a hole in the roof above the master bath
Whole house is just smells horrible.
Also seem to have some settling under the back corner of the raised foundation.

I was pretty amazed at how fast it went downhill.

Goal is to buy it for 35,000
Do 40,000 in renovations/repairs
Net Sales Price 120K
Profit after commissions, holding, etc....35,000.00

BEFORE

AFTER

I just hate disgusting people... They shouldn't be allowed to reproduce.

Good points on the drawbacks of investing near army bases.

My local economy is heavily stimulated by Camp Shelby... According to w wiki it is the largest state owned base in the nation... Hopefully it stays around

I was told by a client that a new policy stipulates that the army personnel are now responsible for paying/choosing their own housing..

Not sure how that is going to pan out... My source is actually a client buying a home instead of renting.

I have a piece of property that is only 3 nautical miles from the Camp Shelby air strip.... Pretty amazing watching the C-17's doing low fly over's... Looks like they are not even moving.