All Forum Posts by: Tom Reynolds

Hi Bryce, welcolm to (BP) and congrads on the real estate license. Stay tuned to this site, listen to the podcasts, read everything you can find on real estate investing and network with local investors. Best of luck to you  

Willie,

Check with the city Code Enforcement, Bldg. Dept, and the Health Dept. for any cited violations. Then check with the clerks office for any fine/liens that may be running or in-place. If you uncover any issues, check with the source and find out what options are available to get resolution if you purchase the property. In some cases fine/liens are reduced or waived when corrective action is taken. This is research that should come with no cost but a little of your time. 

George Sarianos and Travis Paez thank you so much for your response. This information is very helpful and encouraging.

We are  purchasing a foreclosure (single family property) with plans to renovate and hold as a rental. This will be a cash deal. My question is, once the project is completed what are the options for obtaining financing/mortgage and getting cash back.? 

Jassem A., Jared Benson, Andrew Tuquilar thank you for your responses and Jean Bolger I have done the search and found a list of possible cures. I'm confident the smell can be dealt with without too much of a cost factor. And yes it does tend to chase the competition away. In fact the property was noted as containing mold and I had to sign a waiver to get through the door. There were no signs of mold, just resultant damage from the dogs and the lingering odor. My offer will be presented to the seller tomorrow morning.

Thank you all, it's reassuring to have this group as a resource.   

A business plan, long and short term goals, a daily to-do-list. When something isn't working...change it. Continuously watch for changes you can make to improve. Read all the local news. Attend all the local planning and zoning meetings. Read "Think and Grow Rich" by Napoleon Hill and look into other books he's written.

Hey, it's all in the perception. Years ago I had a roofing company and a number of hot tar kettles. The kettles were used to heat tar for builtup tar and gravel flat and low sloped roofs. Everyone complained about the smell and I don't know too many people who like that smell, but to me it was wonderful and I still like it. It makes me think of money rolling in.

Viewed a small vacant residence today in need of some cosmetic repairs that's for sale. The thing is the smell. It made my eyes water. I talked with a neighbor who told me the last tenant never lived there but kept 15 dogs locked in the house. There is a bare concrete slab floor, sheetrock walls and ceilings. Is there a best way or a way to get rid of the odor and keep it away? The place might be a good deal if the odor was gone. Any suggestions appreciated. 

Hi Steve,
You may want to read at least the 1st commandment in Frank Gallinelli's book the 10 commandments of real estate.

Shuai,

What the contractor was referring to is The State of Florida Statute 489.103 exemption (7). Pull it up on-line and see if it applies.