All Forum Posts by: Mary B.

@Mary B. Yeah, there are several blocks between this one and the more developed ones where there are lots of empty lots or boarded up houses on the blocks

hmmm, that's a great question. I've never made any purchase fitting this description because of the same concerns. primarily the concerns any would be good tenant might have with coming home /going out after sun down as well as having visitors living on a desolate street. in cases like that it can seem like a different nation to some people.

now, if there are frames going up, big metal trash bins, contractors working on the block of the subject property then I'd say you have nothing to be concerned about. yet being as though there can be development down the street but no intentions on crossing that one intersection any time in the next 24+ months may be a factor on one way hand. however, on the other hand, you can still use those comps from a few blocks over to support your figures. the one sure way to defeat this obstacle or lessen the potential blow back is to purchase one or more lots on the same block. its never a sure thing when you're at the mercy of the bankers/lenders appraiser as apposed to your own. my coin.

kudos,

Mary

0 Votes

Philadelphia, Pennsylvania

when you say isolated, do you mean a block where most of the houses were torn down and there are just 4 or 5 of them standing? I'm just trying to get an understanding.

kudos,

Mary

0 Votes

Philadelphia, Pennsylvania

there is usually a tuesday meetup PREIA(or something like that, they email me but I rarely attend due to scheduling) but you will likely be getting ready to go to the airport. check on meetup dot com anyway and see if something else is going on...I'm heading out of town myself or I'd give you a tour. the weather is getting back to warm after the tornado the other day, lol. enjoy

Kudos,

Mary

0 Votes

Philadelphia, Pennsylvania

what did the inspector say when you asked him/her?

kudos,

Mary

0 Votes

Philadelphia, Pennsylvania

is this a bank-owned property?

kudos,

Mary

0 Votes

Philadelphia, Pennsylvania

Originally posted by @Jay Hinrichs:

Originally posted by @Cal C.:

Originally posted by @Mary B.:

why didn't you try to negotiate a lower commission instead of no commission at all? it seems that was the reason for the hard left in this scenario from the jump. imo, the PM did earn a commission. maybe you think 6% was a stretch so start at 1% or 2% and meet in the middle next time. my coin.

kudos,

Mary

I would have been quite happy for the realtor to get a 3% commission. It was the 6% commission that I felt he didn't deserve. It was incredibly short sighted of this agent since I probably would have bought several more from him over the years even he would have been reasonable about the commission.

too funny.. your setting someone else comp.. when you have your own criteria for your own business.. and or what you will pay.. its kind of the pot calling the kettle black.. do you go to a closing that a closing agent works on for maybe 30 minutes and they charge 1000 bucks and do you say no I am not going to close unless you cut your fee down since i dont think you deserve it.. NO you dont you can try a different closer .. some maybe discount for volume.. i know i get discount but volume for us is 50 closings a year...

But as its base for sure commish is negotiable and there is no problem doing that. I know I am on the high side with tough to sell properties i would routinely charge 10 to 20% commish.. and if they are fairly low value assets IE under 150k who is going to take the risk and everything to make a few grand thats hardly worth a busy agents time .

Everything is up for negotiation in this business as I am sure you know. my thought is to bring it to the table, that's all. there are no guns being drawn so let's keep it light. worse case is the response is 'no'.

kudos,

Mary

0 Votes

Originally posted by @Cal C.:

Originally posted by @Mary B.:

kudos,

Mary

too often realtors, along with contractors etc don't think 'long term potential' when dealing ...even though you make it clear that you are in the real estate investment business. don't I know it.

kudos,

Mary

0 Votes

kudos,

Mary

13 Votes

if you don't mind visiting jail before the auction...of course you need to know the state laws regarding the type of auction and whathaveyou to be sure it all lines up.

kudos,

Mary

0 Votes

Philadelphia, Pennsylvania

Originally posted by @Mary B.:

Originally posted by @James Barnhart:

This somewhat reminds me a what happened with a contractor friend several years ago in Miami Beach. The contractor was owned several thousand dollars on a house remodel job and couldn't get paid. He was telling a guy who said he could "help" him get paid.

So they went to that house, contractor rang the doorbell, and when the homeowner opened the door, the "helper", hit a sledgehammer down through the homeowner's car windshield. He then told the homeowner to write a check NOW to pay the contractor, and said to write a second check for 10% of the first one, (his collection fee.) That worked, but I don't recommend that tactic.

wow, that's ballsie especially in the ultra stand your ground sunshine state. certainly wouldn't recommend that move for the next party might not respond in kind, at all.

kudos,

Mary

0 Votes

All Forum Posts by: Mary B.

Mary B. has started 17 posts and replied 1764 times.

Post: Appraisal Bias on BRRR

Post: Appraisal Bias on BRRR

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Post: Philadelphia / Philly Accepted Offer

Post: Should I report this agent to the Board of Realtors or?

Post: Should I report this agent to the Board of Realtors or?

Post: Should I report this agent to the Board of Realtors or?

Post: Wholesale home up for auction, heir to Property is In Jail

Post: Closed flip and seller still has not handed keys over ? HELP !!!