All Forum Posts by: Gil Lieblich

@aleksey_vinogradov (i dont know how to do it so it links or informs the person as a mention sorry)

Yes i did my research in NJ i went to about fifteen cabinet and granite guys in NJ. I found the best overall was there a stone guy in a warehouse in Edison I think that was cheap especially if you can use one of his left over pieces... Or there is a guy in Edison that is definitely willing to work with you.

That being said i am sure there are some great deals to be had in brooklyn for just about anything and everything but its too much of a pain for me to go into brooklyn. Even for a project i managed in manhattan i used a central NJ cabinet and counter guy just because it was easier and te budget was a little more. I am sure there are guys on here from NY that can give you advice on stone guys in Brooklyn.

A small question as many others hit the major points... You said $2500 for appliances. that seems very high to me for a lower end flip/rental. I know i am skewed because of my market in NJ very few things in my area of NJ come in that low.  But back to my point what kind of appliances are you purchasing. I feel like you can get stainless steel for that much money. Usually they have the Frigidaire a few times a year get all four kitchen ss 1700 or so (you can negotiate ) But what i would do if i was you go to your local lowes or depot find out when they put out the scratch and dents (usually thursday or friday) and piece it together for probably under $2000 for 6 appliances. Or get the low end stove $400, fridge $450, microwave $175, dishwasher $250, Washer/dryer $650 all new. I know its not a lot of money but saving $500 plus dollars cant hurt for little extra leg work. Also there are some good sites you can use for vanities for the bathroom. I got a couple of really nice custom looking modern ones for around $400 each 42 inches. I rented it out against a nicer rehab because the renter loved the vanities and made it seem like i did more custom job paid attention to details. Just my two cents. I became pretty good at finding nice things for cheap as my budget was extremely tight. Also find a tile/flooring guy, depending on size of property you can get extra material for less than half price to really make it pop with out spending a lot...

I think it also depends on where you are located and state laws. As i know in NJ deposit money is kept in an account separate from your account under the tenants social security number so all interest is charged to that person for tax reason but it is under your name as controlling the account...

Let us know how it goes... Also if i were you i would push your agent to do a big brokers open with the big price reduction. You need to generate excitement. I dont get these agents that are against you dropping price after all they want to make the sake as quick as possible so i would be wondering what that is about but either way if he wont do it speak to a manager at the office explain you want to move the property and are willing to do a price reduction you just want them to add your property to the brokers caravan as well this way his agents are pushing it as well. Good luck and let us know how it goes. Also if you have pics before the reno i would love to see sounds like it was a major job. 

Again you have been given lots of advice and it all goes back to the same things... Either upgrade (A/C and the rest ) or a dramatic price drop and get out. If you put that much into the reno (do you have pics of the before) Maybe you prioritized wrong... We all learn with every job and as we all know every one has opinions to what is important and what works but these days with all the shows pushing people (even those who dont cook) how important kitchen and bathrooms are thats what people assume is important so cater to them.

Going back to the pics... and more importantly your agent. I looked for a long time at properties with agents like that.. they learn a script and repeat it but dont understand the real market. SO eventually i got my license just to learn myself and even though i dont use it it helps to understand agents are salesmen and dont understand investor mentality.

Obviously your agent can blame a million things why its not selling but at the end of the day its their job to price it right and explain to you why. There is a buyer for every property (almost every) if the price is right.

As for the pictures yes the memos and trulia and zillow push that talking point.. .Houses with more pictures get more showings or sell quicker blah blah... he rational is correct if a person sees everything they know what they are walking into and are less likely to think you are hiding something... But let's put the supposed stats aside use logic and say you have too many pics. I get bored and confused going through so many pics and it allows for far more judgement. One picture of every good feature /room says here is the whole house... This is what you get both good and bad. Throwing pictures that keep buyers away is silly and your agent is not good imo. He starts blaming stuff like that is not what you want in an agent. He is supposed to be on your team and managing your expectations. I can go on and on as i have because it angers me after dealing with agents for years who could never tell why i shouldnt buy a property , it bugs me.

First thing people go for is price then looks... show your best foot forward.

Even if that is the case as far as the furniture and the photography used it is what people are seeing and may keep people from coming to see the property. If that is the case i would re shoot pics and eliminate some of them. Just highlight the positives. There a lot of pics that i feel are hurting you . For example the first bedroom pic seems like it is very long bedroom which is ok although i would do something more with the area where the random chair is... But then you show the bedroom from the opposite angle which actually makes the bedroom feel tight. Also the first head on dining room shot is good followed by the two rooms together but you have another shot of the dining room that makes it seem like an undefined space that lacks warmth. Again just show them the best... Get them to property and hopefully with the previous suggestions you will find that buyer.

I am a photography hobbyist and i when i shoot a house it is a very different animal... Learning to highlight spaces with out taking away is difficult.

Unfortunately the neighbors creative listing and the fact that you cant see the pics is definitely problematic but you must figure out how to make yours seem like a better deal because you went above and beyond that "cookie cutter builders special " type house...

Also I just looked at it again and if you look at similar listing that come up right away prices range from 325-380 on the ones they show so i would say you want to be in the lower range especially any one who looks at the house and sees the last selling price 200k lower than people are going to expect 2ook of upgrades which as others stated it falls short in some areas (bathrooms a/c etc...) And looks like next door sold for 350k and it was new construction...again all things need to be considered as your buyers will consider them.

I am in no way claiming to be a pro but i can give you my opinion as a potential buyer. First there is a lack of curb appeal no plants flowers etc to distract and improve on a strange entrance. Then in my opinion it seems like a very large spacious place which is normally a positive but i believe some one said it already the furniture is small for the spaces which makes it seem awkward. I would use more color and rugs and things to define spaces more clearly. It looks very bland and lifeless.

Obviously price was a big issue and 380 was way off the mark but when you have a house that house so many faults and some major like no ac you need to set the market price and get in front of it instead of playing the reducing game. You are going to be chasing the market and in my opinion if i was coming to make an offer i would come in real low.

Again simply stated i would restage and make a dramatic price change unless you are ok with keeping the money tied up and waiting for that one special buyer.

as i said i believe they are allowed 90 days. Obviously you have to check that but that is how i read the rules.

i was just reading on this topic for a friend who just found out the hard way that their rental is in foreclosure. I did some reading and as Jon stated generally there are protections for lease holders. It is not guaranteed as it depends on the circumstance from what i read but yes as a general they are now protected. If they were in month to month they would still have a 90 day protection as of the date of purchase...