All Forum Posts by: Stephen Masek

Historic? Does that mean old? What about asbestos & lead-based paint?

One more good resource - Craigslist, to learn current asking rents in an area.

Trulia and Zillow are useful, but only to a limited extent. The information on schools is useful. The information on other houses and the value of a particular house has to be viewed knowing it is all computer generated, so it can not be the only source of information. The information on past listings and transactions is helpful.

The Internet is very helpful. Trulia and Zillow help you look at schools and other houses nearby. Realtor list sites are a mix, as some have old listings, or short sales not called out as such. Bing and Google provide aerial photos to see the houses, and examine the neighbor characteristics. Local property managers are helpful, especially in knowing areas to avoid. Air travel is generally not expensive, so going to an area is helpful to assess commuting issues, neighborhoods, and see particular houses. We went to Atlanta last year, and being there definitely helped us understand the commuting issues, so we got two nice ones in locations good for commuting - one in Acworth, and one in Lawrenceville. . We've bought half our properties without going to see them, and am in escrow now on two such properties, one in Memphis and one in Indianapolis. We got two excellent houses in Austin in May, and the trip there was certainly worthwhile.

Remove it yourself. They key is to use the scoring tools and plenty of the remover solution. Just grunt work.

Joke or not, I've been to some real estate meetings where the one question I wanted to ask the presenters was their net worth. They could tell the truth or not, but it would be a good way to gauge if they know what they are talking about.

Yes, Marie, the prices people are paying in Las Vegas relative to the rents have gotten silly, and the number of bids are astonishing. It seems obvious many of the buyers are from California. We have one newer nicer house there, but got it at the end of 2011 for $90,000 plus $5,000 paint and carpet.

Carole, we've got over that, owned outright.

I know about people being bashful. I'm a radio collector and restorer for fun, and many who own a Zenith 1000Z (currently worth $60,000) will not admit they have one. I'd throw a big party if I found one at a good price. Most people agree with me that a thief would leave the 350 pound 1930s radio and that the stupid flat screen....

Perhaps you would have more success with a poll, if this forum software has a way to put a poll in a thread/posting.

Why those areas?

Do you know about asbestos, lead-based paint, old water piping, heating systems, and such? How about landlord-tenant laws and regulations? Joining a local apartment association may be very helpful.

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