All Forum Posts by: Sandra K Shirah

I'm on the fence about this one...

The REO property I'm interested in is in a subdivision that the ground water is partially contaminated by THC from a manufacturing plant. The geologist and toxicologist hired by the plant for ground and air sampling has assured me that the property is not in the contaminated area (I have these contacts because my current residence a block over has vapors coming in through the foundation and remediation in progress). As a broker, I know the contamination will significantly reduce the value of homes in the neighborhood (zero), and I imagine the company will eventually buy the homes actually contaminated...but if I could purchase the property in question at a large discount and rent (w/proper disclosures) at even half the average rental of the neighborhood ($950-$1100)... The broker in me and the investor in me is at war... any thoughts?

Definitely outnumbered... for now!  I'm an investor and broker in Central Louisiana.

Thanks Amy & Tami for your input.  I suggested posting on FB and Craigslist, but the owner is 80+ and legally blind - and sadly his 3 adult children aren't much help to him. I sold him the home initially, and I'm not expecting to make anything at all really from it. I primarily want to help him move the property before it ends up being a liability. 

Thank you Rob & Jeremy! Excellent suggestions. Thank you for offering to take a look at pics. I’d really appreciate! Will pm you. 

I would think the contract null since, in effect, Buyer did not provide the agreed-upon earnest money. I’d consider a check with no signature as worthless as an NSF. Seems a very large Buyer oversight or perhaps delay tactic because of anticipated financing difficulties or fear of losing $.  I’m curious as to why the individual accepting the check didn’t confirm a signature?  Good luck with the cancellation.

Same in Louisiana. Commission/referral only payable to licensed agents through their broker.

I did a bit of searching and found:

CA Real Estate Law, page 35 @ http://www.bre.ca.gov/files/pd... says, in part:
10137. It is unlawful for any licensed real estate broker to retain, compensate, directly or indirectly, any person for performing any of the acts within the scope of this chapter who is not a licensed real estate broker, or a real estate salesperson licensed under the responsible broker retaining or compensating him or her, or to retain or compensate...

I’ve been asked to list a property in Central Louisiana that has significant fire damage (insurance paid off), but I have no idea where to start. I believe there may be some value to the structure that remains - perhaps a savvy handyman can make habitable again - but not certain. The location also isn’t in the most desirable of neighborhoods... Any suggestions on best way to determine value?  Thanks! 

I'm an investor and agent. IMO, the best ways a Realtor(r) can benefit investors is MLX! Access is usually restricted to NAR members who are licensed agents, brokers and/or affiliates - the system is necessary to query property info, develop comps/BPO's, create flat fee listings that feeds to humpteen websites, set up auto email notification of listed properties with your criteria, etc.

Be glad to take a look at. Do you have a link?

Thanks for the suggestion! I have appointment to show to a small donut shop owner looking to open a second location.