All Forum Posts by: Sandra K Shirah

Thankfully I did soil testing prior to, just to be certain of no future liability.

@Account Closed I didn't realize there were no FL properties there :-( I looked at Brevard County Tax Deed Auctions and Sarasota in the past (I'm originally from Gulf County), and many were less than $5K at the time.  There's also Hudson & Marshall (cheapest I found there in FL was $7K though) and Castle Rock REO that offers owner financing for some of their properties.  Best of luck to you!

@Tony Gunter good point, but I still respectfully disagree. I consider estimates or bids part of "doing business," just like when I offer my professional services - I don't charge investors for BPO's.  If based on my willingness to provide a report later generates a listing of that house or another belonging to the investor, I consider the time I spend researching and completing the BPO well worth it. If it doesn't result in later compensation, that's the risk I take as a service provider. 

Have you thought about CivicSource.com? I had limited funds and went through them to purchase last year.  I think they pad a lot of their fees, but it was a somewhat quick way to gain adjudicated property.

Here's an earlier BP post that includes link to rehab spreadsheet:  

https://www.biggerpockets.com/forums/67/topics/377...

Consider contacting local real estate brokerages with your "make ready" services or contact "property preservation" companies who may be interested in subcontracting. If your rates are competitive enough and they don't have their own in-house staff for that purpose, you may get lucky. An online presence offering before and after shots of the quality of your work is also a good idea, and something that I'd be looking for if I was in need of those services. There's also field service managers for HUD that could be possible sources of work. Good luck to you!

I've had success with "help wanted" FaceBook group postings specific to my town. I found a licensed electrician and roofer there, that I continue to work with. In my personal opinion, I wouldn't compensate a general contractor for what would be in effect providing an estimate or bid for a job that would generate thousands for him/her. I would perhaps offer small compensation if the individual/company is one of only a few offering a specialized service (such as foundation repair), and are located outside local commuting area.  

I completely agree with @Tanner Marsey. Support your friend/newbie Realtor, and stick to your numbers. Perhaps explain to your friend how you came up with the numbers, so she can better understand your goals. She'll appreciate your trust in her and the opportunity to expand her knowledge.  I've been a Realtor for 10+ years and I learn something new with each transaction.

Congrats on passing the exam! I'd say research the different brokerages and find one that fits your style.  I'm a relaxed kind of girl, not pushy, and prefer the closeness of a small company/team, so I opted to interview only smaller offices for affiliation rather than some of the big-name brokerages. Perhaps you can narrow your search like that?  I wish I could offer more guidance, but I'm sure California brokerages are vastly different than our Louisiana ones.  Good luck to you :)

Investment Info:

Other commercial investment investment in Pineville.

Purchase price: $1,800

Adjacent to VA Hospital and Forestry Service, (corner of Rigolette and Shreveport Hwy), this commercial lot is a great opportunity for billboards, food truck or convenience store – easily accessible to 1600+ Federal employees, not to mention hundreds of daily visitors! Once bridge is opened, traffic through area will likely increase.

What made you interested in investing in this type of deal?

Proximity to large hospital and potential for numerous small business enterprises.

How did you find this deal and how did you negotiate it?

Noticed it was abandoned, researched courthouse records, determined it was adjudicated to the Parish for non-payment of taxes, submitted purchase request to the Police Jury for amount of back taxes, made required notifications by mail and newspaper, waiting mandatory days for owner to redeem, and when redemption period expired, closing occurred at Police Jury Office. That’s the simplified version :)

How did you finance this deal?

Cash.

What was the outcome?

Appraised value of property is $29,000.

Lessons learned? Challenges?

Only purchase adjudicated property if you aren’t crunched for time... it took roughly 2 years for purchase to be completed.