All Forum Posts by: John Rooster

'running comps' is something a Realtor does off the MLS.

Analyzing and Evaluating comps is something an investor does. There is probably a book or ten out there somewhere on analyzing comps. It is something that was always obvious to me, so I would not know how to explain it to someone. This is something most wantabes never get past, some people just do not have the skill set for it.

If they actually filed bk and are going to get a discharge, then no there is nothing you can do. If they are just BSing, which sounds probable, then you can get a judgment against them for actual damages (lost rent, cost to re-rent, whatever). State law will dictate how hard getting and collecting on a judgment will be.

it probably means the seller does not have a mortgage on the property, since if he did the mortgage company would pay the taxes, other than that it does not mean much of anything.

I don't have a great deal of experience with surveys, but it would seem logical to me that, assuming you still have the original survey, that you could get the company that did the original survey to go out there for a small fee and update the survey to satisfy the lender. Of course there could be some pedantic reason that will not work.

Plumbing fixtures make up less than 3 percent of a typical rehab. I do not give a lot of thought on where to buy them, I buy them at HD and Lows because they are near by and have a good selection. I am not going to drive across town to save $30

red flag. Extraordinary claims require extraordinary evidence. He probably didn't put any details on starting a hedge fund because he has never done this and has no idea how to do it. Did he also have a chapter on allodial title?

I am in the dark as to why this could not be wholesaled to an investor if there is 80k+ in potential profit. But conversely I am in the dark as to why the property, which has been exposed to the market, has not been sold at well over 100k if all it needs is cosmetic work and it would be worth 225-300k after rehab. So you must be leaving something out.

I agree with Kirby. Based upon the text in the original link, If the reason for the rejection is not wholy or partly due to information in the Consumer report, you are not obligated to provide them a written rejection, even if you do access their consumer report.

Beyond that, I think consumer reports are garbage and subject to manipulation (both pro and con), so I do not use them, I just do a Statewide court search for $7 (in addition to verifying employment), thus I avoid having to concern myself with the crazy requirements of credit reporting laws.

This is like asking who the best loan shark is, or who the best Meth dealer is.