All Forum Posts by: Zachary Peacock

Looking for different ideas for durable window treatments for privacy for rental properties? Any suggestions for a new landlord? 

@Antoine Martel Will it be based on 70-80% on the ARV? the purchase price of the house? or the appraised value?

@Antoine Martel Will our loan amount be limited based on the value of the property?

Buying 2-3 houses for under $10k each - Won't have to borrow against the homes, but will be borrowing for the construction work, and oh my goodness do these houses need some TLC..

Looking for suggestions on how best to finance the rehab costs.

Thanks in advance!

@Christopher Phillips Thank you for the response. I appreciate the insight. Good stuff. 

The zoning is "Urban Neighborhood-UN" with single family zoning. Maybe it predates zoning? I can't find any details about it. I know they use urban and suburban zoning since my city merged governments between the city and county 10 years ago. Does it have more to do with tax benefits? 

@Greg Scott Thanks for the reply! I agree that there are a lot of red flags. I actually just made a brief visit to the property, and it seems to be in disrepair. The area however seemed to have quite a few recent flips. So, I liked that it was in a developing area. 

I will see what I can't do to figure out the restrictions on Historic structures, as that could be a huge component of the demolition app. 

A point of contact at City Hall sent me a lead on a property that has a "NOTICE OF APPLICATION FOR DEMOLITION OF A HISTORIC STRUCTURE." 

I have the following questions:

1.) What are the implications of this application? Does it mean the house is rotten to the bones and no good at any price? Does it mean the city is planning a large development project and the property is a lost cause?  - I am under the impression the seller may simply be unable to take care of the property himself in his old age. 

2.) How can this application for demolition be leveraged in a price negotiation scenario? How can I effectively utilize this fact to help acquire the property for a deal? 

3.) I have access to the local PVA, so this should help me contact the seller, but I wonder if anyone has any other tactics or strategies for locating the seller if this is not effective? 

Seems like a good opportunity, I just want to have a better understanding of the implications of a demolition application, and how it may help me leverage negotiating a deal!

Thanks in advance BP!

@Joe Hughes - Thanks for the detailed explanation -and please, take my advice with a grain of salt as I am new to real estate, but I am very experienced in sales, customer relations, and account management. The key to your troubles is a simple fix, in my opinion. You are helping the sellers solve a problem, and are prepared to inject cash into their hands. Being confident that you offer immense value to the seller is huge in how you communicate the potential sales process. Being up front and confident should quickly eliminate the shock and confusion on the the seller's part, and the same can be said for the buyer if you communicate the expectations of you or the seller, or simply the nature of the transaction. Communication is critical - people hate surprises in big money transactions. Setting the expectations and outlining the potential process to follow should help.