All Forum Posts by: Karen Margrave

Perfect timing Rich. Michael was teaching himself some stuff on Revit today, and it's always better when you have a specific project you're working on. And the size limitations gives him a challenge. We'll be waiting to get pics. Email address is on my signature.

P.S. Do you need an indoor laundry room?

Rich, our college aged son, that partners with us in business, taught himself Revit. He drew the plans for a house we're building; and then we passed off to the engineeer, etc., but it saved us thousands. Anyway, he's interested in trying to design your house.

Do you want one story or two? If he does the exterior, what do you want, stucco or ? Any specific style?

Seriously? The question was, "What would YOU do "IF" had $100,000 to invest. It didn't ask "do you have $100k to invest?" though, this is a forum for real estate investors, that links various investors etc., and it's common for people to put specific investment requests on here.

The question was no riskier than when Will Barnard had info on his 7 figure deal. Are we to assume that because he put that out there the scammers are all going to show up and he's going to be scammed, or shall we figure he knows what he's doing and can protect himself? Unless there's an acutal "scam" I don't think people should over react.

As to my post, I had some great info that others could have used, but ... it was so edited it makes no sense now.

Don Konipol That sounds very interesting. We've never done syndications before, but with higher priced area we are now in, that might be something to look at. How does that work? Is it similar to doing a joint venture?

Justin S. Don't you have a lot of people from Canada investing in the Phoenix area?

I have over 25 years experience doing real estate, construction and development. In all that time, I've never bought or dealt with wholesale properties, or wholesalers. We build mostly spec buildings and homes. In the interest of broadening my knowledge, can you please explain to me the process of wholesaling? Do you buy houses that are REOs in bulk and resell or ? I know for my R.E. License the definition of wholesaling was selling four properties a year, but it seems the definition of wholesaling for investors is different. PLEASE ENLIGHTEN ME! Thank you!

Check out Michael Quarles discussion on marketing
http://www.biggerpockets.com/forums/87/topics/72811

Justin, Thanks for answering! I've seen some beautiful newer homes, with lots of upgrades at ridiculously low prices advertised for sale in Phoenix in the past, is it still like that? Do you have a good rental market there from the people displaced due to foreclosures?

Many City and County websites have GIS Interactive Maps, that allow you to locate a parcel by the map, street address, etc. You can then click on the parcel, and then the report, which shows the parcel number, and sometimes the owners name. In northern California it showed names, southern California they don't (I think it's because there are so many celebrities and extremely wealthy individuals it might compromise them) You can also get owners records from most title companies (ask for the title plant). If all else fails, send a letter to the house address and it should be forwarded. Also, talk to neighbors. Or... Google the address.

I was just curious as to the numbers people invest in other areas of the country, etc. in comparison to California. I know in southern California our numbers are some of the highest in the country (though not the highest), and in other areas it seems like you get such great buys for low prices. In some areas REOs go for less than the loan amounts, and here they often are bid up over market value.

I just like to know what properties sell for, what investors are doing in other parts of the country. It's not really that bizarre of a question. If you look at the reality shows of Selling L.A., and Selling N.Y., lots of people are curious as to values in different areas, etc., and what people get for their money.

Ed O. Example: We bought a lot where a previous home had burned down. When we went to the building department to pull our building permit, we asked if they would give us a credit from the previous building permit that had been paid, you might try for any other development fees and see what they say (utilities, etc.). They did. We have done this other times in the past too. Most people don't think to ask for the credit, therefore; don't get it. I'm not sure if every area works like that, but we've done it in California in a few places.