All Forum Posts by: Karen Margrave

You seem to have a lot of people with experience around you. You're basically acting as the developer, and subbing out everything. That's a great way to do it as long as the profits can support it. One word of caution, be careful on allowing any changes, and make sure upgrades are paid in advance (your contractor that's built custom homes probably has a process already) . Figure it's going to take 2x as long to build as you think it is, especially with many materials and finishes on back order. I wouldn't lock in to a sale until you're close to the finish line, too many things can go wrong and cost more than you are planning with the market right now.

 It's much easier finding people to work with if you have a deal that looks profitable. Having the experience you have, you should be able to put together a package to send to investors/partners. You have great experience that has actual value. You could find the project, do project management, and that side of it, and find a money partner to bring in the funding. It should be a relatively easy thing to do. 

If you want to partner with someone, you have to have something to bring to the table. What is it you offer that has actual monetary value? Whether it be money, some type of related trade, finance, real estate experience, that helps level the playing field. Ask yourself, if you were investing your money in a project, what can the other person do that you can't? Probably in your situation your best bet is to learn the business, and work with someone else to gain some practical experience. 

I know they're always trying to upgrade the site. I have suggested that the listings in Marketplace be given a period of time to run, say 2 weeks, and then have to be renewed. Also, I think there needs to be a way to go back and have the person that placed the listing edit it, or pull it off the site. I myself when looking at listings have one in Bend Oregon, that was sold a few years back. However; I cannot find it to get it taken off. 

@Bruce Lynn I understand what you're saying and can track down one or two vacant homes. However; during the crash there were asset managers that handled various banks in their regions and would get brokers in their jurisdiction for doing BPO and listing homes. There's also the HUD homes etc. that get listed. During the last crash on BP we had a link that had various banks, foreclosure departments, etc., and there were lists that showed asset managers, I just can't find them now.

I'm not sure how you're getting financing for manufactured homes that have been moved more than once. Are you counting the manufacturer to the dealer, then to the buyer as 2x? 

Well that's good news for most of you. I'd love to keep up on this and see how it goes in the months ahead. I am a Realtor in Redding, CA and there are a lot of STR here, housing medical professionals, tourists, and students from a local ministry school. So far I haven't heard of any cancellations, but our market has such a high demand for housing, I was curious if there might be some inventory coming on the market from people selling or switching STR to LTR.

I'm curious about housing inventory, and where it will come from. Short Term Rental investors, with gas prices being so high, are you seeing a slow down in renting properties? Are you holding your STR properties, turning into LTR or selling them?

@Bruce Lynn How can I get a list of asset managers that cover my area?  

Does anyone know the process for getting REO listings in an area?

foreclosures, REO, REO properties, foreclosed