All Forum Posts by: Account Closed

Boggle...I'd be really curious what happens if you tell them to pound sand.

It's not seasoning that we run into when flipping to USDA financing, problem is as of lately they question more than a 20% flip in profit and usually get all worked up about it even with some documented proof of upgrades/repairs.

I guess i'm spoiled, but I won't flip if I only think it is for 20% gross profit.

if you are talking about hampton hill, i'd be a little nervous about that PCR you have. Also the comps i see don't really show the 100k+ value, but 70k+ makes sense to my eyes. I'd guess a buy/hold would like 50kish

Short answer is very little. A lot of other factors play in (mainly seller).

What areas are you looking at in florida?

What we would do in florida is put the stuff into storage if we felt the value was over 200 dollars of personal items. I'd then send a notice to the owner if i could find them. After 60 days if the stuff is still in storage I'd discard at that point.

In the past I flipped an REO on my MLS, the seller's agent got wind of it and actually tried to steal my end buyer (was an auction company, valuehomeauctions or something like that out of CA). In the end it went down like i wanted, though they tried everything possible to drag me through the mud. The agent selling it saved my rear because she didn't want the 1% the auction company was offering, she wanted me 3%.

---CURRENTLY-- I'm flipping a REO on my MLS that the investor doesn't currently own.but has an accepted contract on. Seller isn't aware, but even if they learn of it It won't change anything. Fully disclosed in my MLS and legal.

I have no idea if this is useful to you or not. But I pay about 2500 for a 3 ton unit with heat pump installed. This does not include ducts. I think I priced out the unit by itself and could find them for 1700? Good luck getting a local company to warranty a purchase from online.

I typically wait to install AC units till closing, my excuse is I want to put the warranty in the buyer's name. The truth is I've lost 2 units at the same house before, and I'll never do that again.

If i needed to run all new vents and returns I'd be really happy with it being only a grand. I have no idea what the actual cost would be.

Read your contract very closely...I can't think of a contract I've ever written that allowed for a long period of time for a buyer to "play" with my inventory. Obviously you aren't buying from someone "in the know" but even people outside our trade typically won't let someone have a extended amount of time to close with huge holes for them to exit out of.

Don how does the current REO world fit into your wonderful view of realtors?

Almost all banks hire realtors to deal with some really nasty stuff. You think what gets wholesaled is somehow worse than that?

http://www.mlsocala.com/ocl/maildoc/sd_AAAa0021f20110608230102.html

Answer the question correctly. YOU ARE THE SELLER. YOU AREN'T THE OWNER. Just tell the realtor you are in the process of closing but haven't done so yet because your seller have given you some time to find an end buyer.

I have access to myflorida regional (orlando mls) and do some business down there. Currently have a house on YORKSHIRE CLUB under contract that we will flip. If you are really having a hard time finding a realtor odds are I can fill the void. Though I'm by no means eager to drive there every other day