All Forum Posts by: Dyna J.

What sort of problems would you expect with a property that cheap? Of course there would be a lot of deferred maintenace so a lot of money would be spent on renovation. Also there might be some serious structural problems where it might be easier to just tear it down and rebuild. And maybe back taxes, water liens, IRS liens, unpermitted work, code violation fees (sometimes $100s a day), HOA fees, city special assessment fees, mechanics liens, etc.

Now all of those might not be relevant or even survive foreclosure so forgive me if I'm mistaken. I am curious to hear from an expert on what to expect.

OP, if the house is under $5k I'd just pay cash. Get a second job and save it up or borrow from a friend or relative.

I like the way you think. How motivated do you think she is?

Whether it was an accident or not doesn't absolve them of responsibility.

Absolutely not. Its not theirs until he/she puts the money down for it. Keep advertising the place and accepting applications.

Expect there to be more fights and more phones calls of "i'm moving out" or "I want X out". Stand firm so you dont get sucked into that vortex. Remind them when the lease expires and that they are BOTH responsible for the rent until that time. Thats it. Keep the conversation brief and to the point.

First and foremost, make an offer for what the property is worth not because the bank doesn't need the money. If all the comps are in okay condition then you need to adjust the value for everything missing and damaged.

Secondly how do you know it was sight unseen? The person may have a partner in your area. He or she might have a realtor that explained the situation and that person put in the low offer that you were thinking about.

Now if that person bought it for listed price then yes he or she is nuts.

Well whats the reason for most carpeting being destroyed in rental units? With hotel rooms people are less likely to have food, kids, obviously no pets and the rooms will be cleaned fairly often based on turnover. Plus how long will people actually be in the hotel room? Most often just to sleep I'm guessing. It would be nice to know how often they actually replace the carpenting.

No kidding. Then there is a ARV listed on the top at $249,900 with an asking price of $202k. Who came up with these numbers and who in there rigfht mind would want to dump a bunch of money into a trailer?

I'm sorry but I can't get past people dropping trash on the floor. Where are you investing, a third world country?

Say what?!

You can't be serious. Who would do that?