All Forum Posts by: Scott Rogers

Seems currently the most durable/cost effective flooring is LVT or LVP.  good modern looks, easy install, reasonably priced and as durable or better then anything else 

I put peal and stick black and white tile from home depot in a rental 10 years ago. Its still there and last I saw it looked ok.

I like the newer Luxury vinyl plank, and am putting that into my newest property, better but if on a budget the peal and stick squares will work fine.  Besure to use the primer to help them stay adhered to the floor.

rule #1 research research research, every property you consider biding on! watch out for additional leans and verify taxes are current.

#2.  Dont get emotionally attached to any property. know your max number and dont go over even 100 bucks.  Currently there are a few companies who are over paying for properties at auctions around Georgia. Dont get caught up in a bidding war. if it makes sense at your numbers stick to it.

3. You typically buy these without seeing them inside. plan and budget for the worst case senerio.

4. the process can take much longer then you expect to close. I purchased one on 4/24/18 and they couldnt close it until 6/22/18 so almost 2 months after the auction. Lender sold it to me before forecloser docs were completed/filed extending escrow.

5. get title insurance!!

If you do this deal be sure to get title insurance!

He would be responsible to pay off the tax leans at closing. The funds will be deducted from what you pay and the closing attorney will  cut the checks to all vendors/lean holders/ ect. with the balance going to seller

"They reported a leak from the drain that was leading from the dryer which soaked the carpet on the first floor. I sent my dad over the same day and he was able to stop the leak. We think it was clogged by lint"

This makes no sense. Dryer vents do not contain water,  You dont vent into a plumbing drain.  If this is happening it is a major defect, You need to figure out where the actual leak is coming from and address it.

Damage would have no effect on my offer aslong as all damages have been properly repaired.

My offer would be strictly based on sales value vs rent value.  And based on the numbers you posted that I would not make that deal

Either rent is way under current value (highly likely as many long term landlords have not kept up with current pricing)

Or the Sale price is way to high.

I think your costs to carry are under estimated

Sell him the house!  Take high value and add 10% and present him the offer. He loves the house, has been making improvements and now says he should just buy one himself.  

Sell it to him make top dollar reinvest that money

learn all you can about  your states redemtion period. Tax liens are their own life form.

Makes me laugh when I here people complain about current mortgage rates. Guess they weren't around in the 80's LOL when11% was considered good :P