All Forum Posts by: Gavin S.

In response to the accuracy of zestimates in rural areas: They are truly all over the place. My home is generously zestimated bout 10k-15 higher than the county appraisal and probably 25-30k over what I could ever hope to get out of it even though I have overimproved it. 

In my opinion the real value of the zillow information whether a buyer, seller or investor is in the sold information they provide. I derive my own analysis from similar sold comps in less than a year in that market. You can get pretty close to figuring out a decent value of similar aged 3/2's sold in same location in less than a year.  In my opinion, realtors/brokers should be looking at these zestimates as a great starting point to have real conversations with buyers/sellers. Its a chance to prove your worth and show what you got. In other words add real value in creating knowledgeable buyers and sellers. Think of it as an opportunity not a threat. 

Can I see where the lawyer is coming from. Yes, absolutely. She should get her own appraisal and then post it right in the add for her home. Just my 2 cents.

What about tiling directly over the stone? A feaux marble tile might be a cheap option and go right over the top of the rock.

Welcome to BP Richard! 

@Martin Ogutu This is great! Thank You

@Brian Barnes You can PM me if you like I did sign up to use the program. GS

Welcome to BP! What are your goals? Flip, Buy and Hold? That's a decent area to find REI success. GL to you. GS

@Ronald Olivera.

One suggestion I would make is to partner with an experienced flipper to get started. You said you will have some funds and you have construction experience. I don't know how much in the way of funding you have but those are two very valuable assets to start with that many don't have. I suggest reaching out to any experienced REI folks in your area and find an active REI investment group and attend. I am also rural so if you (or I) want to attend something like that we both know you're probably gonna drive....just like we have to for a lot of other things.

I recommend spending some time getting to know someone who you might be able to partner with. Another hint is ask some Real Estate agents. Many of them are investors in their own right and/or they will know other investors as well. Whether you will invest locally or farther away that will be imperative to start the process. Vet whomever you decide to work with i.e. check their referrals, previous work. Set yourself up for success before you get going. Best of luck to you just my 2 cents.

GS

@Brian Barnes I would also suggest due to your area (Chicago area) that you read up on @ Wendell De Guzman on BP. He provides a lot of great (free) information on blogs, posts etc. He also continually offers workshops, JV options and funding options too. A lot of opportunity to learn and get options for funding. GL GS

@Gabe T. Welcome to the site! The Peoria area has some excellent opportunities to reach your REI goals whatever they may be. Take care and gl to you. GS

Deal with Auction.com/Select properties. Those are the ones that realtors are attached too, they allow financing and are just generally better properties. I did win an auction on the regular auction.com sight but only after it appeared to have gone through several unsuccessful auctions and they clearly lowered their reserve over time. Hope that helps.

GS