All Forum Posts by: Andy Chu

Some other things to take into consideration is your basic assumption of the market. For Instance, if you belive prices will drop 5% this year and your ROI will be 10% from rentals, then your true returns will only be 5%.

There is no exact science to it.

If you are looking for NOD lists, contact your local title company's marketing department. They can pull NOD lists for free, in hopes of you sending your escrow/title to them. I know for sure that FATCO, Old Republic, and Stewart have the list.

REDC's auction.com has only recently began to add on the 20% rule. We purchase a healthy amount of properties through them for each time they decide to visit us (which seems to be once a month). To date, I have not been able to have them eliminate the 20% clause. In one of our last transactions, the property couldn't be conveyed due to the parcel being split between FNMA and the Treasurer's Department (due to back taxes), therefore title couldn't convey a clear title. The only thing we requested was for them to remove the 20% clause within 90 days, and we would take the clouded title, but they, of course, refused and we are still sitting waiting to close.

Here's some other things to think about. I am currently in Las Vegas, which means we are the hardest hit market in all of the US.

When a buyer can go down the street and buy the exact same property for similar pricing, why would they go to your home? A rehabbed property usually only bring 5-7% higher prices (if you are lucky). Most appraisers in this neck of the woods stop taking repairs as justification for a higher price. Furthermore, the 90 day anti-flip clause kicks out a lot of REOs (Fannie and Freddie) that would have been potentially good deals (They only allow you to sell 20% above the purchase price).