All Forum Posts by: Steve Miklashevskiy

@Amey Phatale not sure how you are making a connection. Zillow’s trouble are Zillow’s troubles. They are one single private company, a company in trouble. One company’s issues don’t translate into troubles for the entire industry.

We are still seeing low inventory and low interest rates - both of these are main indicators for where the market is heading. Zillow is not a large mover in the real estate market

@Daniela R. I have a question and a concern.

Question - what are the comparable property values within mile radius?

Concern - do you have extra funds to cover extra repairs (or cost overruns) you didn’t account for? What you’re listing (roof, HVAC) are some of the most expensive repairs and you Amy be estimating conservatively. Make sure you have funds to cover cost overruns

@Alexis A Peinado what exactly is your concern? You offered $130k, it appraised higher, you are moving forward. As long as the appraisal allows you to move forward, that’s all you should care about. Appraisers (along with others) ****ed up in a big way leading up to 2008 crisis, so they are being conservative. After you rehab, you’ll have another appraisal. Move forward with this deal

@Christopher Cole I agree with that. Finding the best market ANYWHERE in the country is great in theory, being close to your investment property as you are starting out is key to managing successfully

@Linda Share - end the current lease, return deposit to the current tenants (let them split it it themselves), sign a new lease with the new tenant (just her) and collect new security deposit just from her. That’s what I would do. It’s a clean break and a clean start of the new lease

@John Doss did you run a background / credit check and how did it come out? Why the ACH payment? Did you or he offer any other forms of payment?

@Chris London when you say agents working for Zillow, they actually hire part-time / full-time agents? Any different than agents working for any other brokerage?

@Kaylee Walterbach left the corporate world and jumped into a new career as a real estate agent and never looked back

@Joe Splitrock why do you think the property values will keep rising? We are headed into the winter and we are actually seeing MORE inventory now. So the prices will either stabilize or will drop a bit, at lease over the next 3-4 months. I don’t see short-term property value appreciation

@Joe Splitrock that’s a great topic, thanks for starting the thread. My take is (without reading everyone else’s comments) - it’s not their business and they realized that buying, rehabbing, and flipping homes is much more difficult than they anticipated, starting with the qualified labor shortages (contractors subcontractors) and the materials price fluctuations. They do everything on a large scale and they apparently cannot hold this level of inventory on their books.