All Forum Posts by: Nick C.

Better to sort it out now than the closing table. If you wait until the day of closing he will think you're trying to rip him off. Hopefully there's something in your contract that clarifies who is responsible for liens. It should be the seller. 

I wouldn't rely on a real estate agent. I think the MLS is the best source, the biggest difference is you can look at interior pictures most of the time. Make sure you're comparing apples to apples.

However if you don't have MLS access there are plenty of subscription based comping softwares out there.

Viking Inspections always does a good job. PM me for contact information. 

Sounds like you'll need to short sale it unless the current owner is willing to bring 19k to the closing table.

You're paying about twice as much as market rate. I've never heard of management being higher than half of the 1st month's rent + 10% per month.

Buyers lists are overrated. Get good deals and your buyers list will grow organically. 

Their contracts are not assignable. 

Use your own title company. They outsource their customer service, don't expect a seamless transaction, keep after them if you want to get anything done.

I've read their sell addendum Carol. It's very, how should I say this... seller friendly. If I was an attorney I wouldn't want my client to sign it. 

But I'm not, I'm an investor, and if they ever get a deal that I could make money on I would buy it.

I'd be more concerned with buying something based on their net potential figures instead of your own.

You're going to have to do some networking. Find locals in your area who are doing deals, find wholesalers, realtors, REIAs. Zillow does one thing well - advertise and sell advertising. Data isn't their thing. 

Sinkholes are not a black and white issue. Some lenders will lend on repaired sinkhole homes and some won't. Some insurance companies will write policies and some won't. I wouldn't expect to get full retail though, generally with a repaired sinkhole property you'd get 10 - 20% less than fair market value.