All Forum Posts by: Kate J.

Don't get discouraged, they have good deals sometimes. We are all trying to buy cheap, so we should expect offers and bids rejected if there is something better for the seller on the horizon. It's better not to get attached to the property emotionally. 

I think it depends on your age and kids, and you account balance. I would say uder 40, under million, with no kids, stick with what you have and leverage in rentals. 

I have it from last August. In fact, I was buying to hold. it has great views on lake, exactly the one I wanted to live in. But I've got an offer in Texas for a better job. Do you think they will press me again? Probably they will. In the end, I noticed that the actual buyers never as this type of questions.

oh, yes, that's another issue. If I convert to rental, I will not be able to get rid of the taxes :( for owner occupacy. It would be nice to sell in a year, it would be more "price justified".

I will be trying to fight the tax. I made it owner occupied and my w2 moves me to Texas this year. So technically I can hide some of the income under the carpet, at least I hope so.

well, I was lucky with my purchase. I've got an apartment for 425k, foreclosure. It's in a high raise building, where each square feet weights. The listing agent or the bank made a mistake and listed it for 1200 sq feet, while the apartment is 1800 square feet. I knew the building and immediately picked it up. It did not need many renovations as it is in a relatively new building, I will put in 15k at most to upgrade kitchen by adding an island and do minor touch ups. The price it will go to market is 720k to start with. Market value is closer to 680. The 2 bedroom condo with the same layout was sold for 650k. I've converted den to another bedroom, and will list  it slightly higher than the sold one. But there is no reasonable explanation why I am selling for this price except comps. 

I had a very similar flip, but I've put 50k into renovation, got it for 130k, sold for 295k. I had around 6 people dropping law price offers and saying "why do you think you can make as much on it?". It becomes emotionally very hard (I am serious) to deal with all these crazy buyers/agents who fight for every 5k on the selling price. I kind of looking forward to add even more anxiety to this upcoming sale. 

Hi, I wonder what can be done so Zillow does not disclose price that the house have been sold for. I think it hurts flipping business. The property is in Illinois.

So if the investors pull out 117% from the property during refinancing, they will still have a % of the property and as a consequence a liability. Technically, if the market drops, the investor got stuck with a property that has negative value. Is this correct?

I am also interested in Kona's condos. I wonder if anyone can share their breakdown of costs and profits. Does anyone has a cash flowing property in that area?

Hi, I have purchased several properties on Hubzu.com. I've noticed that the reserve price is usually 20k less than the MLS price. Now I see a listing of non-bidding type, i.e. there is a listing price and a field where I can enter an offer. The listing price on the website is 255k. It's not listed on MLS since it is occupied property. I wonder what offer they might accept. I know the general answer is "depends". But I just want to hear your experience with making offers at hubzu.