All Forum Posts by: Kevin D.

On Friday I closed on a side-by-side duplex which will take my unit total to 3.  I bought it for $29,500, but out of pocket was $31k after transfer taxes and some fees.  It was a foreclosure property that I found it on Hubzu. (Closing was not easy, but we go it done.)

I'm hoping to have both units fixed and rented by April 1 or May 1. I work a full time job, so I'm not in a massive rush. Luckily, I can leverage a lot of contacts that I made with contractors from my first property. My budget is set at $25k. I think ARV is around $75-80k, so I'll have some equity if I can keep this under budget...

Here we go again!

@Rafael Norat  I wish I could make it, but I'm traveling on business at the moment.  Keep me posted on when the next one will be.  Thanks.

@Jonathan Dees  Can you let me know if you're getting my e-mails?

I recently put in an offer and had it accepted.  I signed the paperwork with my agent and cut a check to the title company for escrow.  As far as I can tell, its all legit; but everything is very one sided.  They rush you and set a deadline to have the paperwork returned to them by, but then they drag their feet to finalize it.  Also, my broker said that the standard purchase agreement is 50/50, but the Hubzu agreement is totally one sided.  That being said, if you like the property and it makes sense, don't let it scare you away.  I'll post more about my transaction when it is completed.

I'm renovating a SFH that I bought at auction for $10k. ARV is somewhere around $70k and the property needs roughly $25-$35k of work. I'm not sure if I want to hold it or flip it and I live in PA. That said, I'm not sure if I should put in central air. There is forced hot air in the house now, so the duct work is there. My friend is an HVAC tech and I could put central air in for about $2k-$2.5k. Will I get my investment back if I rent it/flip it? Any recommendations based on experience would be appreciated.

Great info on NWSB.  I'm going to contact them after the holidays.

Thanks!

Yes, they are legit, but its not always the easiest process in the world.  There are a number of other threads on here for Hubzu (one started by me last week).  Read the points on those threads and then come back and post any questions that you may have.  I'm sure someone on here will be able to help once you have some specific questions.

@Jonathan Dees  Thank you for posting.  I'll shoot you an e-mail later today.

Dawn Anastasi I've read several posts about Hubzu on here, but the thing is that it's not an auction, so I wasn't placing a bid. I was making an actual cash offer. Maybe I was just venting about the way the algorithm would counter my offers and wanted to see if anyone has run in to this.