All Forum Posts by: Michelle S.

However, Realtor 2 got the Code guy off our backs when he was eager to cause us issues. (This City is not clear or professional - They make it hard for everyone doing biz there to move on easily.)

0 Votes

Originally posted by @Kenneth Garrett:

@Michelle S.

On my flips, I use a flat rate listing broker to get the listing on the MLS. About $500. I then pay the buyers commission of 2.5%. It works well and I am able to save a few thousand dollars. I work the buyers agent and negotiations are all done through me. Sometimes the brokers are confused of the arrangement because I'm not a licensed broker. I have saved tens of thousands over the years.

Thank You Sir - Very sound advice.

0 Votes

Originally posted by @Jonathan Greene:

This statement in and of itself means you need to step out of the way and hire non-discount agents if your flip is good.

"I figure I know the most about the home and think "no one knows a product better than the person who made it".

When you say 1% and 3%, do you mean just on the seller's side? How much going out to the buyer? It makes no sense to me when someone flips a home and then tries to FSBO or use a discount agent. You might as well tell all the real buyers and agents that know what's what that you are cheap and will think that everything is perfect and not take well to repair requests.

Everyone knows what you are doing when you price high. This is always why. "We went over budget on this one so I figured I could recoup some funds if I sell myself." You can't recoup your errors by being cheap. Hiring the best agent with the best marketing helps get the highest price.

How did you analyze those statements to equate me needing to hire an Agent?

Yes, 1 and 3% is on Seller's side.

Why doesn't it make sense to you? It's all about adding money to the bottom line for me, the Seller. As well as what's best for the sale of the home - who will get me the highest offers? With the market so hot...I believe FSBO would be a good approach at this time.

I am not cheap - And, that's a very judgmental statement considering you don't know me, my quality work and ethics. I did not make an error - I didn't overspend; I prefer to add money to my profit.

There's nothing wrong with a discount agent - Most are too expensive anyway - Making thousands of dollars just for selling a home is crazy.

So it sounds like, all negative comments aside, that you vote for Realtor #2.

0 Votes

Originally posted by @Russell Brazil:

How did you buy this property?

From Realtor #1.

0 Votes

The deal:

Realtor 1 charges 1% to sell my rehabbed home and she got me my 1st rehab home at a good price. We don't agree on everything at times, and she is older so she makes mistakes. 18 yrs exp.

Realtor 2 is offering to sell for 3% and has 10 yrs exp. She helped me get a code guy off my back that was overreacting about our rehab. She says she's a master negotiator.

Me - I'm a pretty smart, detail handling person. I figure I know the most about the home and think "no one knows a product better than the person who made it". I realize I have to handle the contracts, negotiations and showings. I have a good Title Co picked out. We went over budget on this one so I figured I could recoup some funds if I sell myself.

What is your professional opinion? Who has sold themselves? Any issues? Would my original realtor be unprofessional and/or upset that I didn't use her?

1 Vote

Originally posted by @Bruce Lynn:

@Michelle S. I just had another investor tell me Forest Hill gave him the runaround and he would never buy there again.

What did he end up doing? Did he sell the home As-Is? Did they eventually release the electric?

In researching FH, they are one of the most crooked cities in the DFW area. The town should be rescinded and put back into City of Fort Worth. One year their mayor got caught doing something so he quit, then the next mayor was indicted for fraud. It's like a town you can never leave, the way they lie, change their minds, and make it impossible for investors. Steer clear, even if the home is a deal! We caught the Code Officer violating his own City Code, even pointed it out to them, and now they're just silent. FYI - In that City, unless they have proof that you HAVE a code violation, it IS illegal for any of their City Employees to step foot on your property! I do NOT need permits - as you can do things like paint, floor, kitchen, fence without one. I am not going to go get contractors and pay for services I do NOT need! Highly ridiculous! I am in agreement with making a home safe for the next Buyer, but not feeding FH a bunch of money for accusations and lies they cannot prove to this day! I even obtained a passing third party certified electrician report.

If you or anyone here knows anyone from Oncor, they could help me by flipping the switch after THEY are allowed to come onto the property, check my electrical, and check my licenced electrician report. Any other beef FH wants to accuse me of has NOTHING to do with releasing electric.

0 Votes

Originally posted by @Greg H.:

@Michelle S.

The reality is you are going to have to play ball with the city at some point. How do you plan on overcoming the buyer wanting the utilities on for inspections and most importantly the Appraiser requiring the utilities on to do the appraisal?

Yes I understand this. They are being discriminatory as we've asked for codes and ordinances saying what they request and they will not deliver. I have many things going so I will figure it out. Thanks.

0 Votes

It is Forest Hill - I will avoid buying any property there in the future. You do not need permits pulled to do painting, flooring, or kitchen cabinets and granite. It is considered a rehab if you 1) change the walls inside or 2) change the size of a window, etc.; which is we did nothing major. They are just trying to make money from us. No other city has given me trouble like they have. We even heard that even when 1 owner changes hands, they run them around too. I do have an electrical report from a certified contractor that says the electric is passing, so there's no reason for this.

There is a time to fight for what's right and a time to just "do what they want". We cannot allow Cities to do the wrong thing when they have nothing on an investor.

0 Votes

We are super excited that we finally rehabbed and beautified our first flip home! It took 4 months between only 2 people working hard every day and now our high demand 4/2/2 is ready for the DFW Tx market! One big issue:

The City where the home is refuses to release the power so the home can have lights during showings! We've been up there numerous times, talked to the Office Manager, and even phoned the City Secretary. They're all incompetent to say the least. One day we think everything is worked out, then the next their story changes and it's not. So for the last 2 weeks no power = no home for sale as it just sits!

There are no hazard violations and no unpaid electric bills on the property since this was all cleared when we closed on the home back in June. I feel helpless and cannot figure out how to get my power on. I've even filed something with the court to see if they'll help, but in the past, they never have. I've called Oncor which oversees power here in the metroplex and they cannot do anything. I've NEVER heard of a city being able to "hold" power from a home - Larger cities like Fort Worth and Arlington DO NOT do this! It seriously looks as if this City is trying to make money off of us - They want me to call in 4 different contractors AND the Code Inspector who already has it out for us - We caught him violating his own Code and posing as a Bldg Inspector and taking illegal photos ON the property where that is illegal (been confirmed). The home is remodeled so I don't need any of these people!

What would you do? Anyone ever heard of this? Sell it without power even though that's not customary?

0 Votes

Originally posted by @Steve Hyzny:

@Michelle Santana

You need to read your employment contract, some employers limit outside work. Some state employees have limits on outside work I’ll IL.

I've had plenty of previous jobs in Texas and they never said that. Looks like everyone should read what they sign then and truly think about giving some employer that much power. Not me - I will not have someone dictate all parts of my life. Not their business! If they want so much control they should have their own children only work for their company. I guess if the pay is really good, and you don't mind someone having their thumb on you - then sign your soul over! Not me!

1 Vote

All Forum Posts by: Michelle S.

Michelle S. has started 4 posts and replied 21 times.

Post: Sell flip home self or Use realtor?

Post: Sell flip home self or Use realtor?

Post: Sell flip home self or Use realtor?

Post: Sell flip home self or Use realtor?

Post: Sell flip home self or Use realtor?

Post: A City Who "Holds" Release of Electric Power?

Post: A City Who "Holds" Release of Electric Power?

Post: A City Who "Holds" Release of Electric Power?

Post: A City Who "Holds" Release of Electric Power?

Post: BP post got me fired!