All Forum Posts by: Scott Harper

Welcome Brandon, I have one sfh in South Daytona. I have owned it for ten years. I am just now getting a very good cash flow. The area seems to be changing for the better for commerce and rents. I don't know too much about the flip market over there. I know prices fluctuate depending on the street they are on. 

I am in Longwood, grew up in lake Mary. I have two sfh in Longwood. Your offer to partner on a four unit interests me but I am probably not ready to pull a trigger on that now.  Again,  welcome to BP. 

Great job. I was just wondering if when you make an offer like that, do you explain your reason to the seller or seller's agent or just present the number? I mean, obviously the selling agent knew the arv and they probably figured 40 k of rehab to bring it to optimal market price so they listed it for 170k.  You however need to make a profit so you have to get it for a lower price then someone who is going to live there. So, I think there has to be some motivating forces for the seller to accept and for the selling agent to council that this is a fair offer. I agree, you never know the full situation so offer and see what happens.  

What motivating forces do you suspect? Is it a slow market? Was it a divorce? Was it in an estate? Etc etc. 

I write this because I too have presented low offers but often research the property or owner to gather intellegence. I might even research the Realtors sales to find out their experience. 

Just some thoughts for new people afraid of making the low offer.

A friend has a mother that has gone to assisted living. She has retirement income of $3000.00 a month. Medicare is paying now but eventually may need Medicaid to pay. 

He has a home valued at 200k and her husband passed a few years ago. 

My friend has consulted attorneys and received conflicting answers. 

If he rents her house does all money (approx 1500.00 month)have to go into a trust to protect it so she can still qualify for Medicaid?

Can he sell the house and put money into a trust to protect it from the five year look back for Medicaid?

Has anyone had experience with this? 

What would you suggest (your personal opinion)

Or an attorney who may know.

Congrats! Some tenants are great. Some know how to manipulate. Do not be too quick to trust. Sometimes they change after they are in. Make sure they accept the conditions when they do a walk through. You do not want demands after they move in.

Congrats! Some tenants are great. Some know how to manipulate. Do not be too quick to trust. Sometimes they change after they are in. Make sure they accept the conditions when they do a walk through. You do not want demands after they move in.

Thanks for sharing. How did you buy the foreclosure? Was it listed? Did you offer less then asking? If so how did you get to the numbers you needed? Around my area, they price foreclosures high and they still sell. The numbers don't seem to work. 

Very few people from Orlando participate on BP. I do not know why. I am familiar with Mills and 50 a little. It is a nice area. There are a lot of legal offices there and the singles and young married couples like it. Lake Eola park is there and many young people like to gather downtown. I am not familiar with rent amounts but I would guess it will depend on what you are renting. Smaller houses vs. larger. I am in Seminole county , about 25 min away and rents are around a dollar a sq foot but it is rare to find anything under 1200.00 a month for any property.  Good luck.

So, I agree with the saying,

"Deals are not found, they are made".  

 I have had a few that were made but can anybody share a short story of how they converted a property for sale that was not a good deal and would have been passed on if they had not worked the deal or found the diamond that nobody saw?

This is to educate everyone on different methods or techniques.

From each according to their means, to each according to their need. Does that sound familiar ?

I feel for you.

Generally, here in Florida, the assessed value will be about 40k below what you could get if you sold it so it is a little difficult to protest.  If yours is higher it seems like you should have a good argument. 

However, if you have not noticed, the trend in our Country's socialist downside is to stick it to the property owners for the good of the collective. Have you seen legislation being passed in some states imposing restrictions on landlords rights.  Recently, "criminals are becoming a protected class by not allowing landlords to use criminal background for declining tenants. I can't remember which state that was.