All Forum Posts by: Jane S.

my 2 cents is NEVER CLOSE ON SITTING TENANTS!!!!!! they will try their best to cheat you and lie their way out of paying!!!!!! The place is FS because the seller is sick of his stress from his tenants and has mismanaged to the max. Move on.

There is very little SFR inventory in COS so maybe you should test the market to see what you coudl sell it for. As is. You dont give any info on the size of the house or the type of location. I'm very familiar with various areas of Colorado Springs. I've sold 2 SFR'S this year because there are no decent renters out there without animals and they can and do destroy a valuable asset.

However, it's a rule of thumb that one shouldn't make big decisions after a tragic life event. You can list the property with a broker (sign a 3-month listing contract not any longer) to test the market. Floating a loan to make repairs might be a sunk cost in terms of the NOI you can get from BRRRR. Good tenants are really thin on the ground right now. It seems everyone has a couple of dogs and a fish tank. Or 4 cats. The animal fee never covers their damage. Take a look at FB to see animal damage problems.

If you want to get into RE maybe sell this property, use the profit to pay for your RE education? 

FOUNDATION ISSUES AND OUT OF STATE????? What are you thinking? there must be hundreds more of these available in your town or nearby. This one barks like a DOG! Your time is better spent looking closer to home.

DONT EVER SIGN UNLESS YOU HAVE YOUR OWN PLUMBER AND HVAC REPORT!

If I were you I would wait for more profitable deals even if smaller. YOu dont need to have the banks into you so heavy. 

whats the point of being "cash flow positive" if you have no money?

wholesale it, move on, and maybe examine whether you still want to be in real estate ...

The first thing i would do is go inspect the property inside and out and meet the squatters. Get a feel for how you can work with them. If they dont want to cooperate, my immediate reaction would be to forget it and keep looking. The owner has been lax in the extreme and ought to be giving the house away! what a creep! Seller ought at least pay for legal costs of proving who is actually the owner(s).

Selling one of my rentals. There are "brokers" in town who will list it for 1.5%--4%. My broker will do it for 5%. What am I risking going for the lower commission? I have lovely photos and a super write-up, and inventory in this location is nil. WWYD?

she and her slobbo son are GONE but i am left with lease violations. Gonna sell and 1031, get rid of stress.