All Forum Posts by: Michael Gessner

@Danielle Becker basicly do seller financing, have a closing where the deed is recorded in your name and he as lein holder. Offer him and intrest rate which is payable upon the sale of the property. Or you can open an llc both of which are managing partners and do the same as above seller financing with intrest. If you do the llc route deed would be recorded in the llc name

@Jordan Hall where are you located ? I'm a dealer for forevermark. Love the cabinets only wish they would come out with a few colors fabuwood has.

@Raj Pathak you need to be more specific as to what was done to the property. Some locals require permits to change your front door, to change a toilet, to change the color of your house. Permits in most locals are required to do any plumbing and electrical, you need to see what is required and what isn't required to have a permit by speaking with the Inspector. Are you currently selling the property? Building inspectors cannot demand they enter the property unless they have a court order. They cannot assume certain changes were made u less they have something to compare it to. Alot of flippers don't realize this, but alot of locals are paying people to go thru the mls and see what's being renovated without permits. Permits also = higher assessed value, so trust me most major cities are broke and they're looking hard for the cash. If the proper was listed on the MLS before hand most deff the building dept k ew its condition and has an idea of what was changed.

@Paul Lionetti where did u possibly find a house anywhere in NJ for 39k ??

@Daniel Felix it's hard for anyone to judge what size unit you need over the internet. Many things have to be taken into account. Current duct work size, age of home, current insulation etc. Higher the seer rating the more efficient the unit will be. Your best bet is measure each room and add up your actual square footage. A 3 ton unit is not too small for an 1800 sqft building again depending on insulation factors also age of windows. A 4 ton or 5 ton is a large unit for an 1800sqft structure. Bigger is not better in this case and don't let anyone tell u otherwise. Too many installers do not size units properly which cause issues down the road.

@Joe Livsey should be put thru as subject to financing. In general hml is cash however they do have underwriting guidelines so it is subject to the mortgage. Also if the property is reo, the asset managers are well informed these days on hml and know they do fall thru. If your competing against actual cash investors then the likley hood of your offer not being excepted is pretty high in this market.

@Jon Fletcher honestly I don't know how flippers are making a penny on the flips, I'm fortunate where I do everything at cost, I hire no contractors, these other guys with contractors have to be making nothing. In terms of newburgh tho on rentals, it's hard theirs so much big money cash in the rentals. I was told recently that they're will be a large influx of foreclosed multi family hitting the market, when, I don't know

@Jon Fletcher I'm in walkill just outside of newburgh, anything fsbo has been listed to avoid agent fees. The market is hot and the sellers know this. It's incredible what people are and we're asking for properties. I will say this tho, I have been seeing alot of price reductions the past few weeks, so maybe the market is starting to settle out, but only more time will tell. What is your goal ? Flips or rentals?

@Theresa Reynolds you need to reevaluate your numbers. If I understand correctly, you want him to prep the siding for paint ? Who's painting it ? Regardless painting exterior will cost a few grand at most. Now if new siding was supposed to go on, that can lead to much much higher numbers. He put the new roof on as u requested. If the numbers work, and it's a good deal stop being picky and the heck with the paint, or prep for that matter. If the house has to be painted for appraisal, which if its not isnt going to hack thousands off an appraisal, if it is got paint it your self. You found a deal off market which now ur gonna loose. Your not the only one looking for fabo, I'd say yes he has another buyer lined up, in matter a fact he prob has 10 maybe 20, if its a decent deal.

@Christopher M Miller maybe you should take time out of your day to handle things if u don't like paying. The contractor isn't billing out a several thousand dollar job, where is he supposed to make money to cover his vehicle expenses ? When I have to go around getting material for jobs, I charge my material markup plus my hourly rate, my times not free nor is my truck.