All Forum Posts by: Lisa Kohl

Did projects passively before going full time and finally got sick of the corporate grind. I quit my job, got my RE license and never looked back. 

In my area- been full time over 3 years now.

As an experienced rehabber, If it was between the two I would rather be in a buyers market rather than a sellers. Longer hold times but better selection of properties and less competition. You make your money when you buy.

Depends on what the typical age of property is in your area. If it's in decent shape and has had updates over the years then that's a plus. Taking on tons of deferred maintenance will depend on your tolerance and the sales price. Just make sure it's not a money pit.

A balanced market is preferred for me when I'm rehabbing properties. Right now in a lot of places the market is hot, too hot in some instances. In any market you'll still need capital for the purchase, rehab and holding costs.

The market is hot in a lot of areas right now. Are you working with an agent to help find deals on the MLS? The best way to score deals in a hot market is to market directly to sellers via yellow letters, postcards etc

You could try Hubzu, Auction.com, Homesearch.com- They're all a little different as to what kind of deed you'll be receiving, that will most likely depend on the bank that owns the property. All of them are a bit different and always be sure to read the small print on every property.

If the owner is extending the financing I would think it would be unlikely that they would also front your rehab costs as well. You can always try reaching out though. In the event that doesn't work I would suggest using your own resources i.e. HELOC, personal line of credit, credit cards etc. Family and friends could be another go to resource. Also, if the deal makes sense you could possibly to a joint venture with someone too.

There are several threads regarding Hubzu and your exact experience has happened to others as well. It's how they play and in their fine print there are all kinds of disclosures about what they can choose to do etc. Hopefully another great property will come your way. 

If you're working directly with the seller, you'll want to be sure to run comparables then make your offer. You'll need to get a purchase agreement (some folks will have their own to use) and depending on your state you'll want a title company or lawyer to do the title work.