All Forum Posts by: Account Closed

@Greg Carrier

Ha! ha! Good catch. I drove my list that I had funneled down from the Certificate Sale that ended on Friday 3/8/19. For me it started with 1,589 properties down to 100 properties lol... (looks like 1,489 of them were vacant lots). From 100 down to 43. 

So basically, I eliminated 1,546 properties by some desktop underwriting and cross referencing. I finally got in my car and hit the road when I was at 43 properties. Out of the 43, 24 were vacant lots.....and out of the 24 vacant lots, 5-6 of them were freshly cleared........ so much so it was that I would exaggerate to say that it was like the dust was still settling after the heavy equipment drove off.

@Greg Carrier

Can I buy a couple vowels or consonants? There are two that start with M and end with N, ha, ha.

@Bob B.

Ha, ha ha. Quiet Title.....noisy...took a few seconds but lol!

@Greg Carrier

Ahem, ...."We chose a national title company.....".....I think I can deduce which one but obviously you did not name the Company for a reason. Are you willing to name names?

Is the title company going to pay for your defense as I think they should in the suit since it was their fault or do you pay out of pocket for the lawsuit?

@Ben Leybovich

Ha ha ha. A throwback that still makes me laugh. I was expecting some sage wisdom if I had to stop everything I was doing...ha ha ha.

@Kirk Pak

Hey. Give Rick Keller a call based in South Bend, IN. Licensed in IN, MI, OH and NC. He may be able to help you. Below is a link to his website.

Keller Engineering

@Taylor Holden

Welcome to BP. 

I remember my first cautious post and the relief when several people warmly responded.

@Joe Splitrock @Jay Hinrichs

I once worked with a Neuro-Surgeon who had the humility to pry and ask questions on investment proposals when he did not understand that almost bordered on being annoying because sometimes it was almost like arrrgh....."I can't believe I have to explain this". Respect!

@David Bergmann

I can hear the chairs in the NAR (National Association of Realtors) war room gathering over the conference table to device a strategy in areas like Phoenix where Zillow, OpenDoor and OfferPad are already at 4.5% of the market or 4,700 homes between them last year (2018).

But what can they do really? The iBuyers are principals in the transaction actually going on title....not like wholesalers that usually assign the contract, they actually close. It is a free market.

I think the hassle and overhead of building the machine for such small margins will eventually make them crumble under their own weight. They will get by with the high upfront fees for a while but eventually the market will turn on them - the homeowner/sellers' finally waking up to just how much they are giving up and just rejecting the instant offers and seeking other options - the buyers also waking up to the bare bones or dare I say shoddy rehabs as pointed out previously and they just shunning any iBuyer home for sale.

The party won't last long I don't think.

As I had pointed out earlier, the "mom and pop" rehabbers that do quality heavy rehabs are in no way being threatened by this. The guys that will take the ugly duckling, gut the kitchen, bathrooms and anything else that needs gutting and yank that home into the 21st century. People like @Jonathan C. @Duane Kidman @Jake Thomas to name a few.

@Patrick Jackson

Wow, they demanded actual time intensive CMAs not just a drive by BPO or other quick valuation? Hopefully they were paying you something.