All Forum Posts by: Jay J.
Jay J. has started 13 posts and replied 340 times.
Post: First BRRRR Complete with PHOTOS and numbers
- ., OH
- Posts 361
- Votes 127
Originally posted by @Brian R.:
...The guy asks me what the property is worth and I said “at least 180k but likely a lot more”. ...Well the appraisal came back at 184k. Go figure.
... I told her that it was worth 210k and guess what it came back at…. 212k. Just over what we needed to get this loan amount.
Hey Brian ! Seems like the deal really worked out for you!!
But, that refi process sounds a little '09 -ish, or is it just me..?
(I say that having the exact same thing happen to me)
Post: Thoughts as we approach the top of the market?
- ., OH
- Posts 361
- Votes 127
Originally posted by @John Hickey:
@Jay J.. Did you ever do this trade?
Ha, thankfully no. I still think a hard drop is coming, but I generally trade tech / semiconductors with options..
Originally posted by @Joseph Cornwell:
...if you are unwilling to pay a 3% buyers agent commissions the amount of leads coming to your property will be massively reduced. ..find a competent unrepresented buyer and you both can figure out how to complete all of the state required and legally required residential documents... pay a real estate attorney to complete the documents for both sides of the transaction...
..Lets say you go the cheap route and do a limited service as suggested above, you are still paying 400-1200 dollars for an MLS posting, and you still better pay a 3% buyer commission if you want to sell quickly or near asking price. So really we are talking about the difference of 1-2% on most listings...
...in summary saying brass tax you are talking about saving at most a few thousand dollars, but more often than not you are really losing 5-15% net gain, and causing a massive liability and headache at the same time.
You've given me some things to consider for sure.. But, honestly, to me, its almost worth the money just to know the paperwork is done right.. and I think you and Cara make really good points about the level of 'professionalism' that comes with having an agent..
Originally posted by @Cara Lonsdale:...
Same as above.. all good points. You both have definitely made me start to reconsider.. I guess there is more that goes in to the 'realtor' side of the equation. I mean, I've never sold a house before so I really have no idea what's involved.
yeah.. sh!tty old samsung galaxy. If I took the pictures, I'd use my good camera.. lol
Originally posted by @Russell Brazil:
Are there any specific weird laws that could cause you to end up with a huge financial liability if you do or dont do X?
Oh man.. that would be horrible.. but no, I don't think there are any 'special law's' like that..
well, I guess I don't really know if there are ... {insert a timely comment from a Cincinnati Realtor.. lol}
Great Idea !!! anything to get the ad 'seen', right..??
Here are a few pics of the house...
Hello all! I'm looking for input and general recommendations...
I plan on putting my personal residence on the market in the next week or two. I've met with two different agents to kind of get a feel for what they would say (in terms of asking price, what they offer as an agent, any changes to the house, other recommendations, etc..) They both offer pretty much the same thing in terms of agent % (5/6), asking price, selling methods, etc... the one thing I did notice is that they both rely heavily on the 'internet', as they said.. basically meaning facebook, craiglist, etc..
...So, feeling that I'm pretty good with fb/craigslist, etc.. should I try and sell my house FSBO and work with whatever buyer I can find? I mean, I can do 90% of the same 'advertising' they can, and any listing service could too.. the house is in a pretty good neighborhood, good schools, and the market is still decent.. its a nice house (for a family, not an investor)..
So I guess I'm looking for some BP'rs that have sold a house FSBO to provide some input.. good/ bad stories.. etc..
..and any Cincinnati specific realtors have any thoughts they'd like to share would be appreciated too!!
Google is your friend.. :-)
1. Search using "live in flip" "podcast" site:biggerpockets.com
2. result --> https://www.biggerpockets.com/renewsblog/2015/07/0...
Post: Best Way to invest Security Deposit
- ., OH
- Posts 361
- Votes 127
As @Austin Fruechting said, I'd look in to the specific laws that are relevant in your state. I know there are some places (OH for example) where you have to give any interest earned back to the tenant. (assuming they do not destroy your place)..
This might be of some help -->
"In addition to complying with Ohio laws on security deposit limits and how (and when) the deposit must be returned to tenants, landlords in Ohio must pay interest on most security deposits at the rate of 5% per year, if the tenant stays six months or more."
http://www.nolo.com/legal-encyclopedia/security-de...
Post: Someone bought a private road for $994 in San Francisco
- ., OH
- Posts 361
- Votes 127
I don't get it.. what's the point??
I mean, its not like the 'road owner' now owns the homes or anything.. (seriously, they just bought a bill bill, didn't they??) what are they going to do, make it a toll road??!! lol
Post: Kitchen Flooring "design" question
- ., OH
- Posts 361
- Votes 127
@Alec McCullough @Colin O'Neill @Mateusz Prawdzik @Brian Pulaski@Bob Razler
Thanks for everyone's input !! As Bob & Alec recommended, I've decided (I think.. lol) on a lighter shade of wood, almost gray-like..
Its $1.49/sqft.. I just have to ask and make sure its ok for kitchens (potential wetness..) - lowes.com/pd/Style-Selections-12-83-in-W-x-4-27-ft-L-Gisbren-Travertine-Embossed-Tile-Look-Laminate-Flooring/1000202009
In response to Mateusz & Brian's questions / comments - Its not 'worth it' in time or effort to replace anything more in the kitchen. I've talked with my agent and there isn't enough upside to make it worth doing..