All Forum Posts by: Gary Barella
Gary Barella has started 6 posts and replied 57 times.
Post: Seller hasn’t signed termination of contract

- Flipper/Rehabber
- East Brunswick, NJ
- Posts 64
- Votes 152
In Jersey, where I'm at, almost every REO property goes for over list price. If I really want a property I damn sure offer above what they want. But maybe that's just because the competition is bananas out here. My entire point of what I was trying to say is, don't let a good deal for you fall apart because of one person's opinion and a lousy 8k. If it still makes sense for you and you can still make money then do it. It's like not picking up a $50 bill on the ground because just you want to wait to see if there's $100 bill laying around somewhere else.
Post: Seller hasn’t signed termination of contract

- Flipper/Rehabber
- East Brunswick, NJ
- Posts 64
- Votes 152
@Greg H. Then why ever agree on a number before the appraisal? And yes you may be right I don't know I never did an FHA loan, my numbers tell me if I need an FHA then I cant afford it… But you missed the entire point.
An appraiser is just one set of eyeballs that probably took 10 to 20 minutes analyzing that asset. Funny story this big city has tons of inspectors, scheduled my inspection and this young guy hit me up for all this crazy crap… And before I did any of the work I said to myself let me just reschedule another one and see if someone else comes out and see what they say. And it was some old guy with a cane who looked at it smiled and said “good to go.” Saved me a ton. Trust in yourself not somebody else.
Post: Seller hasn’t signed termination of contract

- Flipper/Rehabber
- East Brunswick, NJ
- Posts 64
- Votes 152
Post: To Pay Down Mortgage Or Buy New Investment Property

- Flipper/Rehabber
- East Brunswick, NJ
- Posts 64
- Votes 152
Post: Property Manager Not raising rents as requested

- Flipper/Rehabber
- East Brunswick, NJ
- Posts 64
- Votes 152
Post: Hubzu vs Auction vs court house bidding

- Flipper/Rehabber
- East Brunswick, NJ
- Posts 64
- Votes 152
mainly for all the reasons previously stated. Also Hubzu you just win the bid to be countered, you don't win crap, plus paying the sellers commission via 5% ******** fee. Court house, besides what's already been said. If there was any equity in the house (value for us) the owners would find a way to get straight with the mortgage. I tried all those avenues, all a waist of time, for me at least. What's worked for me is finding REO realtors that have properties listed that I'm interested in. And even when they tell me it's in contract already, I build a relationship with them. I say ok call me if the deal falls through, what else do you have listed?, what's coming down the pipeline? Etc. Then email or call them from time to time with same questions. Wholesalers too. I don't even look anymore. Calls come to me and I say yes or no. But there is a fun element around the bidding process if your doing it for ***** and gigs as side income.
Post: Hubzu vs Auction vs court house bidding

- Flipper/Rehabber
- East Brunswick, NJ
- Posts 64
- Votes 152
Post: 401K: Continue Contributions or Stop?

- Flipper/Rehabber
- East Brunswick, NJ
- Posts 64
- Votes 152
Post: Best way to pull cash from LLC as income?

- Flipper/Rehabber
- East Brunswick, NJ
- Posts 64
- Votes 152
Post: Best way to pull cash as income from LLC?

- Flipper/Rehabber
- East Brunswick, NJ
- Posts 64
- Votes 152