All Forum Posts by: William Baumann

I am not a construction expert, but I am sure someone here will be more knowledgeable than I am, however here is my take on this.  The braced wall was at one time determined to be un-sound, meaning that the outside dirt was causing the wall to cave in.  There is only 2 ways to fix that problem, rebuild the foundation wall (stupidly expensive), or install steel braces that anchor the braces to the foundation floor and the main structure so that the only way the wall could collapse is if the whole house collapses.  After the wall is reinforced you can frame and drywall over the beams.

HOWEVER, I would highly recommend that you get an experienced professional to inspect the reinforcement to make sure it was done right and that there are no issues BEFORE putting drywall over the reinforced area.  A basement reinforcement specialist should be able to advise you better and at little to no cost. 

One thing that has always helped me stay motivated and push on despite disappointment is this.

Thomas Edison designed and built 10,000 light bulbs that didn't work, and eventually made 1 that did. The 1 that did made all the difference in the world.

"I have not failed. I've just found 10,000 ways that won't work." Thomas Edison

Bill S., i was just giving an example of a list that would be as drilled down as you would most likely go. 

I just got done building a list, and I can tell you the costs are high for a drilled down list, one I built ended with only 607 address will cost a $400+.  So plan to pay about $0.67 per address. 

My list was based on Zip+area 25 miles, Property type SFR, absentee owner, Property value $0-$200k, equity 40-50%.

So it does give you great detail, but it comes at a price. On the flipside, I have not found any other list providers that get this detailed for the price, and I think you can buy partial lists of your selection.

My concern is ROI. Just starting out, very limited funds, etc LOL if this is a good way to go when from the posts I have read your looking at a ratio of 1 real lead generation per 1000 address.

Can anyone throw some thoughts on this?

You make a good point J Scott.  Thank you for sharing that.

Hello all, my name is William Baumann and I am a newbie real estate investor in Elkhart, Indiana.  So if your in the greater Michiana area or you do deals in this area, please reach out.

I agree that zillow is not the greatest source to use, nor the county assessors office. However, my thinking on this particular situation is that (and please correct me if I am wrong), if there are no comps or CMA's in the area, and your seller won't even discuss the sale further without presenting a number, using zillow and the assessors tax appraisal information could help you get a "A" number to present, and then using an option to get an official appraisal and allowing you to modify your offer based on an actual appraisal or back out of a bad deal.

My understanding from the OP, was that the seller would not continue sale discussion without "A" number.  

Am I way off on this line of thinking here?

well i am rookie, but from what i have learned your best bet would be looking at zillow and see what the estimate property value is, you can also check out the county assessors office (might be able to access online also) and see what the 2013 tax apprasial was.  because you don't have good comps, i would add a condition to in your agreement for an appraisal.