All Forum Posts by: Stephanie Simmons

@Brett Goldsmith. As a real estate agent I have tools that I can data mine public record and see ones the bank has filed before they are ever listed. It’s the first step in the foreclosure process

I want to target homeowners whose mortgage company has filed to start the short sale process.

I have access to this record and also clearly of the court to pull the amount the mortgage company is suing for...

But if I am to help the homeowner negotiate with the bank for a short sale - what can I read to prepare myself to do that?

@Eric Ng

I’m local and am out and about daily looking at properties. The duplex go pending pretty fast but I’d be happy to assist you. Pm me if interested

@Allison Stewart. Wow - ok so maybe go to the VFW to find someone that works for a tile company that will do your job on the weekend. That’s a lot to pay

@Allison Stewart

So I general contractor all my work. I write scopes - supervise - etc. I have also been working in the construction industry for 20 years and I know what it costs to complete work.

I travel for work and so does my partner- but I only hire “turnkey contractors” for big work like complete re-plumbing or roof replacements. The rest I hire electricians or plumbers on the side.

If you cannot GC your job it “might” be less expensive to partner with someone that can PM the job so you aren’t paying retail for renovations.

@Greg Dickerson. Thanks Greg. It’s a small town so I probably can get most of that info from the building department!

@Chris Mason

You lend in Florida? I’m having a heck of a time getting lenders to call me back.

Sounds like you are letting some anxiety (am I going to miss out???) cloud your criteria....  I recommend you put in what you want and then at what point you are willing to walk away and the beginning and stick with it.

Most markets are seeing pricing increase because we have a temporary decline in supply (people aren't selling because they don't want people in their house) - however many markets are seeing a decline in buyers also (just not as much as the decline in supply).  There are some temporary pressures pushing real estate prices higher - I think when we get to September we will see softening in the market.  In about 6 weeks people will see that their temp job furlough goes to a permanent one.  It will be middle class and working class families that will be most impacted....  The market you are buying in.

You make or lose money on the purchase.  What is the property worth and what are you willing to pay.  If they aren't there - move on or figure out another term you can negotiate on...

Have you viewed the other 4-plexes for rent in the same area?  $30k is a lot to pay for that unless that included some major repairs (re-plumbing, etc.)

In the future - you may want to consider buying materials yourself.  I found a local cabinet manufacturer that was 1/3 the price of the cheapest ones at HomeDepot - then they charged $150 for assembly and delivery and then hired a handyman to install for $300.

Unless that surround was cracked or damaged in the bathroom - I would have left it.  Flooring in the bathroom looked OK too (in the picture).  Opening up the kitchen did a lot for the place - are other comparable units have the same open layout and updated?  If not - you might be able to get even higher rents.  

I found about a mile square block of old tiny houses (most are 2/1) - but I noticed they are all zoned multi-family.  I am not in a place to buy up a block and put townhouses on it - but I am considering maybe building or bringing in a manufactured home and placing on a permanent foundation and use as rentals - or building onto a unit and making a duplex?

Has anyone done this?

What information do I need to get on zoning, utilities, etc.