All Forum Posts by: Roy S.

If it makes you feel better, they rarely work out any where. It takes like 25 leads to find one that works, and a boatload of marketing to find those 25 leads.

I try to get sellers agents & banks to see that their asking price

This makes me think you're going after MLS properties. Not impossible, but I think these are extra hard because the good deals are snatched up before they even get to the MLS. And the houses that are on the MLS are picked over by everybody and their cousin. You should have more luck going after the ones that have been listed for a while and have seen several price drops already.

Have you tried other marketing? Eg, foreclosure lists, probates, out-of-state owners, eviction court, etc?

Even better, spread you contact info to wholesalers far and wide. Let them do the work for you and earn that wholesaling fee. Just be sure to run your own numbers and don't use theirs.

but not impatient enough to knowingly put myself underwater on a project

I admire your self-control. I know I just want to pull that trigger and do something, anything, and try to make the numbers work when they won't.

Good luck!

I would see if they have mentoring programs - though be aware that this would probably cost extra since an experienced investors time is worth something.

I look for big. Since one of the main things is to network, the more the merrier.

OTOH, I also look for small. My local REIA has "subgroups" that meet once/month where you can go in-depth in a topic, and ask about any questions you have personally.

Not interested in REIAs that simply bring in gurus to sell you their course. Though it's still a chance to network.

I expect some of these groups are actually part of a bigger group, so if you pay to join one, you can go to the others for free. Eg, I joined Cincinnati REIA, so I can go to the Dayton REIA and the Hamilton REIA for free.

Good luck!

That said, I continue to push to get this altered. I don't have a timeline, unfortunately.

It's all good. I just wanted to make sure I wasn't missing a setting somewhere. No need to do it on my account :)

Is there a way to change the time yet?

I *want* east coast time, and it shows me west coast time.

A landlord that personally answers the phone at 1 in the morning. Wow.

I'd say call and remind him. You can even remind him of how tenants moved out of his other building when the pipe burst and wasn't fixed correctly - landlords are motivated to keep tenants instead of letting the place go empty.

If he doesn't do anything over the weekend, you can let him know you'll contact the city's health department and/or building dept. Tenants have a right to a habitable living situation.

Good luck!

Oh, and be nice to the landlord. Besides your mom's apt, he has to fix the upstairs apt and probably replace a washer. It's going to be an expensive time for him.

If the buyer is an LLC, then (at least in Ohio) you can look up the articles of orgization on the state's web site. This will list a registered agent's name and address, and often a phone number.

Good luck!

I'm assuming you're asking as a homeowner who wants to live in the property. If you're asking as a landlord, or asking what to expect when buying the house, let us know.

insurence (title and property)

I believe title insurance is a one-time bill paid at closing. You should not have to pay it again.

Mortgage insurance, OTOH, is an ongoing thing, and is usually paid as part of the mortgage. When you've gotten 20% equity in the property, you can get this cancelled.

Agent fees

What is this?

Property repairs

I assume you mean fixing it up to live in. You'll also have maintainence/replacement costs. It typically goes that things run fine for a while, then *bam*, a big costs comes along. I know people that set aside 1-2% of the house value for this/year.

Eg, a hot water heater costs $400 and lasts 10 years. If you put aside $40/year, you'll be ready for it. Add in replacing the roof, sealing the driveway, etc, and it can add up.

Any others im missing?

Condo fee? Home-owner association fee?

Mowing the lawn.
Shoveling snow.
Keeping bushes trimmed.
Picking up garbage out of the yard. - Possibly a garbage fee. Some localities you have to do this on your own, some do it for you and roll it into property taxes.

Utilities - water, electric, phone, cable.

Girl scout cookie fees :mrgreen:

Congrats on the house. They can be troublesome at times, but are well worth it.

What are agent fees?

The way I was taught is that you come to an agreement over the phone. As Aaron said, if asked correctly, buyers will usually tell you what's wrong with the place. Then after the two of you agree to a number, then you go look at the place. And of course, bring contracts. This way, you're only making the long drive when the cat is in the bag.

Good luck!

Ok. Thanks for explaination.