All Forum Posts by: Danny Day

Update- good news, we got readings on the house. No structural problems, no cracked slabs, no foundation repairs needed.

Yes, that was with filling, full sanding, stain, clear coat, and shoe mold. It was a great deal, I found my guy off craigslist.. he knocked out about 1,400 sq ft in 2.5 days. I was happy with it. I'd post pics but my work has tinypic.com blocked.

Hi Dion, welcome to BP. As far as the wholesaler debate goes, there are bad doctors, lawyers, real estate agents, and even wholesalers. Some bring value to the table, some don't. A good book I read called 'The Millionaire Real Estate Investor' said you've either got time or money. You never have both. We leverage our time with wholesalers finding our deals. I'm in contract right now and will close on Thurs with a wholesaler here in Houston. Good luck!

Go visit the property and take lots of pictures of repairs needed. Document all repairs needed. Have a GC come out and give you an itemized bid to complete all repairs. Don't forget major things like HVAC, etc. Sometimes I've had BPO's come in where the house still had an A/C.. then 2 weeks later when we get an offer someone steals the A/C. This drops the price of the home. The asset manager has never been there and never will be there. Give them a detailed packet on why the price is justified (comps, pictures of comps, map of comps, etc). The last BPO I challenged I had the price dropped from $65,000 to $42,000 - but I did have a 23 page report.

Good luck

What do you guys pay to refinish hard wood? Last time I refinished hard wood I paid $1.75 sq/ft with shoe mold installed also.. I pay about $1 per sq/ft for carpet. I would go with Brian Levredge and refinish the hardwood high traffic areas. Carpet the bedrooms.

I also 2nd that a good buyers agent isnt a good listing agent. Most of the good listing agents I know won't work with buyers. They just refer out the business to another buyers agent. Reginald Smith Jr you'll learn that BiggerPockets is a great place for new investors as well as seasoned investors. No one here is or would ask you to pay for their advice. We all learn from one another and grow together. Pay it forward and help someone else out when you start closing deals.

Bad apples are spoiling the reputation of good agents. Are these agents really standing up to their fiduciary duty to represent their client’s best interests, or are they looking out for themselves?

Might want to get a 2nd opinon on that Ryan Pearson, from my understanding if you have done / documented your improvements all you need is a 2nd appraisal to justify the increase in price. Do you know who the lender is on your buyers loan? Maybe offer to finda lender who can close the deal with a 2nd appraisal and the improvement list.

Lunches, and referral business works great!

Thanks for the input Rich. Wish I was at this one! Will be at the next one. I'm interested in hearing more about this method in real estate investing. Cheers