All Forum Posts by: Karin Crompton

Hi @Jonathan Makovsky

I think it depends who's attending. There are essentially two segments of investors in CT as I see it: Fairfield County-based (which sometimes extends into NY) and then the rest of the state. So the ones who are solely in CT tend to meet in the central part of the state, while the Fairfield County/NY-area folks would be more likely to meet down that way. Correct me if I'm wrong, but those might be the investors you'd have more luck connecting with? (Though I do believe in networking pretty much anywhere! Still, you want to maximize your time.)

That sounds similar to here, @Martin Zawarski

@Tim G. I vote for poly only also. I'm seeing more and more dark floors as well - and really like them - but I'm not sure it suits this house and those rooms (seems like it would darken the overall rooms *too* much; I think it would work better in bigger rooms with more windows and light). But I'm no designer, so take my comment fwiw! :)

And I was taken aback by the $600 figure as well. Here in CT, the price is about $2/sf. Then again, it's CT. I tend to take the figures I see on BP and double them (or more).

Welcome, @Wade Light

@Wade LightAnd @Phil Z. asks a good question...

haha I love it, as I'm a total spelling nerd. The usual spelling is indeed "sight unseen," though it does seem reasonable that someone might think they should use "site" in this case. (Personally, I think it was a spelling error b/c I doubt they gave it any thought!)

Funny, I checked to see what definitions popped up online and there's a whole debate about this same sight-vs-site thing on merriam-webster.com.

And just to geek out even more, here's a brief explainer I found on The Grammarphobia Blog:

Hi, @Sean McGirr! Welcome to BP from a fellow East Lymer.

You've found the right place to learn, so check out all the nooks and crannies of BP and you'll be off to a great start. The podcasts are great, the blogs are excellent, and there are tons of people here to bounce questions off of.

Best of luck!

@Account Closed there's no guru book involved, just my own sentiments as I navigate this and learn the ins and outs.

And sorry, but I'm not following this line of thought at all: "banks been burnt before by jack up prices and work that was suppose to be done and never was."

So what did the inspector check out when he went to the property? What did the first appraiser and the second appraiser do when they went to the property? If the price is jacked up, how would it comp?

Ahhhh, thank you, @Wayne Brooks . I will stand down on my indignance to that point.

Exactly, @Account Closed - I bought this property at a pretty excellent price. No particular skills on my end, though; it simply hung around on HUD for awhile and I happened to pounce at the right moment. Add to that the fact that I had the right contractor working on it, and the formula for a good flip worked in my favor. At the same time, we turned a tired house with good bones into a really great place for a young couple who is SO excited to buy their first home. Now let's hope these last few days of the process go smoothly!

Thanks, @Shawn Thom. That's very informative. My property falls in the more-than-90 days, less-than-180-days category, so this is what's apparently happening (3ii):

And this part is what scares me (4iii):

I would hope they use common sense - hell, I rehabbed the whole house, inside and out - but again I ask, is there a chance I get punished by having a contractor who gives me good prices, and by searching out good sales in materials and appliances? If my rehab costs 45k but someone else pays 55k, is the value of their rehab seen as better? And in turn, is the value of their property seen as higher b/c they spent more?

Thanks for the well wishes, @Account Closed in the FilePlace here on BP.

So I sent before-and-after photos plus a renovation overview w/summary of work completed and how much the rehab cost was overall, and then included a breakout of the categories of work with bullet-point items under each header; I also sent them copies of the city inspector's sign-offs. As of late this afternoon I was still working on a super detailed rehab list that includes pricing for each category, then decided to send the other 3 items just so the bank would get something sooner rather than later; if they want individual pricing, I'll have it ready. I honestly don't know how I'll send them receipts if they want those, as I have a million of them. Maybe they'd be happy with the major receipts from the GC and the siding/painting guys. I'll keep you posted on how it goes!

And for the record, I'm playing the game but I still call BS on the whole thing (tho I sent the info w/a smile, @Bill Gulley !). ;-) An inspector and two appraisers went to the house, and that's still not enough to determine workmanship and value? Gimme a break.