All Forum Posts by: Lynn Bown

Welcome to BP

welcome to BP from North Port Fl.

I dont use a physical map but it can be very good in learning the area, do look ups of each of  your zips, and sections and record the median sale values so you have the ranges quickly available.

Welcome to BP be sure to look in the tools, for calculators they are very helpful in evaluation.  I use my own version in a spreadsheet but the ones here are very good and helpful.  Im in North Port Florida.

Be sure not to rely on the zillow / eppraisal.com & other computer based comps. They can be off 30% in either direction as they take averages of sold and listings without considering, neighborhood, condition, or amenities. If you don't have access to the MLS there are many services as @Nick C. said.  when you get one be sure to adhere to GLA (Gross Living Area) within 20,% comps within 1 mile unless impossible to find, (go out .25 miles at a time) look at the pictures and determine the condition of subject compared to the comps and make adjustments.  find 3+ sold (best indicator) within past 6-12 months and 3+ listings (sellers are not always realistic) and then you will get I good idea.  I do over 1,000 property valuations yearly for REOs, banks, and investor and you would not believe the valuations I have to correct for banks where they have way too high or to low a value as their market for value.

Welcome to BP @Kenny Ho from North Port Florida.  Im originally from San Diego and was licensed there for 5 years.  My kids and grand kids still live there.  Keep up the research and take action, good luck with your plans.

Many owner sales will already have flood insurance and elevation certs that are grand fathered into either a set rate or a changed zoning after "Charlie".  Be sure to ask about it to the owner or seller if the insurance is current you can inherit the grandfather rights at the same cost if you dont let the insurance lapse.  If considering an AE-C flood zone property the research on this can save you thousands many dont know about this so they dont ask which suits the insurance companies well!

Welcome to BP from North Port Fl

Welcome to BP from North Port Florida

@John Rogers is right, but it is hard to guess but the computer system could have not been updated in time so it allowed the offer, and got processed.  Then in initial DD it was found to be not a valid NAID.  It could also be what @Greg H.said which is also a correct statement.  Hard to guess but in moving on be sure to align yourself with a new agent and verify his/her status with the broker and if the broker has a NAID so you are ready to pull the trigger with no doubts this time.  Dont get discouraged.  I analyse 10-15 properties everyday for investors and myself and find 3-5 per month that fit my criteria for investment.  But the few that I find are A. more than I can buy, B. worth all the research.