All Forum Posts by: Mindy Jensen

@Mark Ferguson has a great point. If you only had 2 showings and no offers, you are either in a horrible market - and no amount of commission is going to help that, or your house is way overpriced. Remember, what you have into it has almost no bearing on what it is worth or what people are willing to pay for it. And even more important than that, if your buyer is getting a mortgage, the lender will require an appraisal, so if it doesn't appraise out, it doesn't matter what you list it at. 

I have used flat fee listings before I became an agent, and they are a much better way to go than straight FSBO, in my experience. But, if you aren't offering a commission, which is divulged in the MLS, no agent is going to show your home. They are required by law to show any house their client wants to see, but there is no law that states in what order they have to show those houses. You can bet they will show your house dead last, and only if the buyer still hasn't found a house.

I would vote for the duplex as well. Many lenders shy away from giving a VA loan to build, what most prefer is to have you get a short term construction loan, then roll the whole amount into a VA mortgage. I would look into that before you commit.

The duplex is an existing entity. Building a property is a huge undertaking, and if you have never done that before, you can be biting off more than you can chew. 

Good luck!

I would assume that, like interior drywall, the finish dictates the price. A smooth finish takes more time and precision than a bumpy one, which hides imperfections. The one time I chose a smooth finish over orange peel, I paid more for it. 

Welcome to BP, @William E SMith When I was studying for my real estate exam, they had a "real life experience" video clip about a guy who says he wears a name tag wherever he goes, with his name and title of real estate agent. He always keeps business cards on him, and passes them out to anyone who asks. He also sells 15 houses a month, which is unheard of in the real estate industry. The top seller in my office sold 23 last year!

This man also recommends talking to anyone you can, for the exact same reason you say - you never know when someone will need something you can help them with. Good luck with that business!

@Jon Mccarthy There is a BP meetup in Cheyenne tomorrow night. It is the first time they are meeting, so I don't know what you can expect, but it will be attended by people who live in your city and are looking to invest in real estate - a great place to pick brains...

I concur with all the people who are recommending you find another real estate agent. Like every profession, there are good ones, and then there are others. You seem to have found an other. Keep looking.

I believe Brandon Turner wrote a book about low- and no-money-down buying. It would certainly be worth a peek.

But BP also has a plethora of forum posts and blog posts about this very topic, so do a search in the upper right corner and start reading. You will learn so much on this site!

As for the agent not knowing about wholesaling properties, I have been in the business for many many years, and had never heard of it until I started reading BP. Good luck!

Listen to the BP podcast (I think #109 but not sure) about being sued. It is an interview with an attorney, and he recommends all property being in separate LLCs. He says it much better than I can, and the podcast seems to fly by, it is filled with so much good information.

Good luck!

When I lived in Wisconsin, I saw houses listed in a price range, rather than a firm number. I thought it was ridiculous, because I knew the low range, why would I offer anything above that? This was back when the market wasn't red hot, so I wasn't competing with lots of other offers. 

That is the first thing I thought of when I saw this. Why would you give them a range? They will want the highest number you throw out. You want to buy for the lowest price possible. Do you have your own agent? If so, this is how they make their money, by showing you houses. If you are using the selling agent as a transaction broker, they make their money by brokering the deal. Showing the house to you is part of brokering the deal.

Plus, if you use a Buyer's Agent, your agent can get a feel of what you are looking for by seeing what you offer on. They can bring listings to your attention that you may otherwise miss.

But there is also nothing wrong with contacting the listing agent if you don't have an agent, and asking their bottom dollar figure, especially if you are in a market that isn't booming yet.

Good luck!

Hi there.

I'm in Longmont, CO and the drive to the Denver BP meetup just doesn't happen for me. Traffic means I have to leave hours beforehand.

I know there are other investors in Longmont, is there a Longmont meetup or is there any interest in a Longmont meetup?

Would love to take ideas for times, meeting place, etc.

My experience with laminate is pretty terrible. I go with hardwood. It costs a little more upfront, but once installed, you can sand and refinish multiple times, rather than replace. I just bought Hickory from Home Depot for $3.99/sq ft. I already have a flooring nailer, but you can rent them if you don't have one. It took a couple of days because I didn't work non-stop, but it is in and looks amazing. Far less expensive to refinish than to replace the whole thing.

I don't think tile will break up the openness of the house, it will define the kitchen space. Tile is time-intensive, but easily the best skill my husband has learned. Once you learn how, and there are thousands of YouTube videos to show you, it goes in easy. We use Travertine from Home Depot at $2/ sq ft, install ourselves, and get an instant high-end look for the same price as ceramic. 

Good luck!

My husband works from home, and is on conference calls most of the day. He uses MagicJack with almost no problems. There are a couple of 800 number dedicated conference call lines that Magic Jack won't let him dial, so if that is your main objective, you may want to do a little more searching. Current prices are $60 for the first year and $35/year after that.