All Forum Posts by: Hugh Hartwig

Is there a way to move a post to a different forum?

The other day I attended an open house and began a conversation with the listing agent. I told her about my investing business and she told me about other investors she currently works with. She sounded knowledgeable about our market and willing to submit repeat offers if necessary. She sent a list of 11 properties that seemed promising, but then when I asked her to help me determine the after repair value, she said "calculating ARV would have to be done by you. There are too many homes to evaluate." Maybe she thought I wanted her to visit each property, which we would need to do anyway. In the long run, it could save her time because we could filter houses that weren't worth pursuing.

My hope was with 25 years of experience, that she could offer her market knowledge to make sense of the comps by knowing the neighborhoods and what buyers want. I can look at comps myself but without that knowledge, I can only rely on numbers and may buy a house that no one wants, regardless of condition.

Was I naive to expect an agent to provide an opinion of resale value, or is she just not willing to put forth the effort? What should I expect of my buying side agent?

Tom, I am curious what kind of facebook page you suggest use--fan page or business page or your own personal page? I am not savvy on the different Facebook page options, but when I started making a page for my business, I didn't know which page type to choose.

Hi Andrea P. I am glad that you would like to invest in Huntsville again. The last BRAC was supposed to bring in around 1500 people from other bases. I don't know how Redstone Arsenal compares to other military bases in size, but I think it is one of the largest, and should be safe for future re-alignments. So much of our industry is based around the military, NASA, and government contracting that it would be devastating if it ever did close. One thing they have done, probably since you left, is to build several large office buildings on the Base that will be leased to private government contracting companies. This and it's size should hedge against the base ever closing in the foreseeable future. I think Huntsville will continue to grow.

Huntsville is heavily impacted what goes on in Washington D.C., however. Right now thousands of people have been affected by the government sequestration and were furloughed to 4 days a week. I haven't seen a noticeable real estate slowdown as a result, and it should end by August.

Hugh

Steven,

Are you saying that if someone does a short sale, but was not late on payments, that it would not negatively effect their credit? What kind of qualities should someone look for in a short sale specialist? Should they seek help from a lawyer or an axperienced agent?

Thanks,
Hugh Hartwig

Hi Marco, It is nice to hear that you like the Huntsville market. I have heard similar responses from other sources as well. David Lindahl mentioned Huntsville as a good area it in one of his interviews.

Hi Tracy, thanks for offering to help out. I live in Alabama and don't invest in Arizona so my intention is to help them make the best decision. Rules at the local military base have basically eliminated single family rentals by military personnel. They are current on payments, but it has obviously become burdensome to carry this house since it is vacant. Instead of doing a short sale, I suggested that they could consider doing rent-to-own or owner financing to sell the property since the rental market is not good. Of these options, which one would you recommend they pursue first? Would they even qualify for a short sale since it is not a primary residence and they are current? Are you familiar with the Sierra Vista market and their dilemma with military housing in particular?

Hello, I have been following bigger pockets for several months now. I live in Huntsville, Alabama where I also invest. I have done a few investments over several years, but I would like to become a buy-and-hold investor with an occasional fix-and-fip, eventually moving into apartment buildings and commercial properties. I am interested in meeting an experienced investor who can help in these endeavors.

I am trying to help an absentee owner in Sierra Vista, AZ who is considering a short sale or foreclosure. They have about 0% equity and the rental market is very sluggish due to housing rules at the local military base. I am trying to help them determine their best option. Does anyone have experience in this particular market.