All Forum Posts by: Lea Lenz

Thanks Jeremy! I figured the joists but the basement slope had me worried.

I could get a structural engineer out to look. I’m working my numbers to see if I can even make it work in the first place. If it’s looking good I may do that. I would think that any major foundation issues would be visible except for cracked slab that I can’t see. ?

Hi there, I am a new investor working on my rehab quotes. I am currently working on a property that has sloped floors on both the main floor and basement. Same side of the house but not sloping in the same direction. I don't see any foundation issues and only a few minor vertical cracks on the main floor. I can't see any joists, everything is finished and carpeted. The home is 45 years old. What other red flags can I look for? Should I just budget for floor jacking or leveling of new subfloors? Thank you for any advice!

Thank u for all the input! This was off market but I will give it to her on this one. I just wasn’t sure what to expect in this relationship. I respect everyone’s opinions and will use it moving forward! Thanks again everyone!

I would expect her to show her findings to other investors. I just didn’t think it seemed right to bring a property to other investors if I had brought her to it. She was completely unaware of this property when I called her. She hadn’t noticed it listed, looked at comps etc. So I thought it was quite a coincidence that she was showing it immediately after me. Maybe they happened to call her within hours after me. They ask for buyers agreements so you can’t buy with someone else yet they have to ability to work with others. So I would expect some code of ethics be followed knowing I am obligated to go through her when I find something.

Thank you, I was!! Before I had a discussion with her I wanted to get advice. I assume she will say they came to her as well but I find the coincidence hard to believe. Glad I am not out of line here. Thanks!!

I have a question concerning the typical relationship between an investor and realtor that is working with other investors. I recently started working with a realtor who has at least three other investors. Although I do see the benefit of her experience and knowledge I have a concern and just wondered if this is typical. I contacted her regarding a property that I found that had been on the market for months. She said the agent told her no offers had even been made. We went to look and while I was in my car working I see her pull up again this time showing another investor. When I called to tell her my offer she tells me it now has multiple offers. I can only assume she had contacted her other investors. Here is my question. I understand if she brings me a potential property she is also bringing her other investors that same property. Therefore every property she has shown me I have been in a bidding war with what I can only assume include her other investors. I did think that if I contact her and find the property myself she would ethically keep that between us. Is that just naive? This makes me think I should be working with a realtor that doesn't have multiple investors. I understand its business and everyone has their number that works. However I feel like I am now another set of eyes for those investors looking for deals. It seems unethical because it makes no difference to her, pitting us against each other driving costs up because she gets the sale either way. 

I am currently working with a realtor who has other investors. Although I see the benefit I am wondering how this relationship works and if this is typical. She has brought me properties to look at then as soon as we are done with the walk through she does one with her next investor and so on. If she is an investor herself wouldn’t it be fair to say she will discourage me to look at properties she herself is interested in if I brought them to her to see? I understand it’s business but every property I see with her I am automatically up against all her other investors. She obviously doesn’t discuss offers between us but I just wonder if I were working with a realtor that didn’t already have a list of investors I would have a better chance of offers being accepted since I’m not automatically being put into a bidding war.

I am a newbie too. Loved the Shameless reference! If a Gallagher can, we all can. I just joined the local facebook group and hope to meet some locals next month! I would love to find a mentor for auction buying. I know everyone says its a bad idea but I am intrigued. I look forward to meeting some KC locals next month at my first MAREI meeting. 

Hi everyone, I’m a new investor in KC and would love to find a mentor concerning buying at auction. I’ve read and researched but would love to get a hands on learning experience. A chat over coffee would even be great too! Thanks!