All Forum Posts by: Doug Orchard

I have a very limited budget and want to make many offers how does one deal with the earnest money?

@Tyron White I can agree. The reason this Avenue appeals to me is though I haven’t the money to buy and flip or buy and hold I do have the time to visit the court house, some auctions to find out who is buying in my area and I have time to make phone calls here and there. Sure it takes thousand so f calls and thousands of dollars unless you happen to find a deal early and get a payday. I have enough income that my lender says I can buy qualify to buy a four plex which is my plan, meanwhile I can pursue a wholesale deal.

@Tim Gordon👏👏👏👏👏👏👏👏👏👏👏👏👏👏👍👍

I have found a RE agent that I intend

To go through for my four plex in March. 

I have a HM lender who gave me some parameters for a property.

I want to ask lots of realtors to send me those alerts.

Or, should I just ask the same realtor to do the alerts for me?

Can I work with more than one realtor ?

@Doug Haisten Sounds like you are putting in the hard work, I question why some are saying you are wasting your time as what you say is true, basically there is huge competition in every method mentioned on the thread thus far.

@Joe Splitrock Would be effective if Doug sifted the results down till he could find deep enough discount, say he has to go through a thousand but eventually he finds one he can contract for 65-70% of value. It will be very difficult however he will have to work very hard to find the off market deal as Well. Do you think one in a thousand exists?

Originally posted by @Dmitry Semenov:

It is zoned as SF5000, so I don't think you can legally add a 4th unit.

Also, personally, I wouldn't bet on "possible" rezone, I would offer only based on current use (i.e. as a 3plex

Hey Dmitry,

Thanks for the info. If we have to stick with TRi-Plex do you think it would be better to make the bottom unit a big four bedrooms or add one more room and make the rest of the 900 square feet of unfinished area storage. 

Won’t know about zoning until we ask. Even we didn’t up zone just as it is I think there is a huge upside.

The realtor I was talking to said he thought we might be able to go up three stories on the vacant lot and get a view what are your thoughts on that?

Again thanks for your comments. 

@Jim I think if you hire only five star contractors and get two or three bids you will be fine. In today’s world only people who are not savvy to the internet hire fly by night contractors. I would check the reviews on anyone I was going to hire. It’s also a good idea to check with labor and industries to be sure there bond and license is current.

@Milena I think anyone you hire should have many five star reviews you are not blind with all the reviews available on the web.

@Milena Simsic As a former pest inspector I did while home inspections, if i noticed a problem area I then told the customer in the report for instance: Chimney needs a crown and tuckpoint. Roof needs repair southwest corner, or roof needs replaced. Bathroom floor is bad. Electrician need to inspect anomalies in service panel. If you start with a good home inspection you will have the info you need. When working on the house you will generally see what needs done next. Ask your inspector how old is the plumbing if it is not and have a plumbing company put a camera in it and take a look. You should be able to have a very good idea of scope of repairs just off the inspection. Have the realto check the tax records make sure there are no UN PERMITTED additions (very bad) You have courage and some money. Get your inspections and forge ahead. I predict you will succeed.