All Forum Posts by: Terry B.
Terry B. has started 3 posts and replied 51 times.
I upgraded to IOS 8 the other night and am having issues with the BP app. It opens alright, and let's me see posts, but crashes every time I click on one. I deleted and reinstalled the app, but continues to do the same thing. Just wanted to see if anyone else was having the same issue.
Post: Anyone ever used this stuff?

Terry B.Posted
- Real Estate Investor
- Indianapolis, IN
- Posts 54
- Votes 9
Is this the same stuff they use for spray on bed liners... Or from the same company? If so, you can call your local dealer (franchise) to get more info and pricing. And, if it is the same stuff, I believe you'll have to go through them to get it applied.
Post: Most Ridiculous Thing You've Seen as an Investor: With Pictures

Terry B.Posted
- Real Estate Investor
- Indianapolis, IN
- Posts 54
- Votes 9
I bought a property where the previous owner installed a shower in the master bedroom! Closed off the entrance to the bedroom (from the hallway), built a false wall, and put a shower right there in the bedroom. Only entrance after this was through a pass through bath from the kitchen! In the install process, they cut a floor joist to run the drain!!! Oh, and the mixer for the shower wasn't secured to anything... They had a shoe lace tied to the towel rack and to the mixer to stabilize it!!!
Post: Problem w forum feed

Terry B.Posted
- Real Estate Investor
- Indianapolis, IN
- Posts 54
- Votes 9
I'm having the same issue with the iphone app
Post: How accurate are zillow listings?

Terry B.Posted
- Real Estate Investor
- Indianapolis, IN
- Posts 54
- Votes 9
Donnie Brooks I can speak from a sample size of one, so take this for what it's worth... A neighbor's house was listed as "pre-foreclosure" on Zillow for months while the family lived in the home... Then they moved and it was vacant for a couple more months... Then sheriffs sale... Then on to MLS as a HUD repo.
The foreclosure process is not a fast one, so just be patient and keep checking back. Trust me, patience pays off as I've continued to watch properties I lost out on (out bid) only to watch them come back on the market. Since I was keeping up with the properties, my due diligence was complete and I was ready to submit the offer the day the house was back on the market.
Post: Should I buy this property?

Terry B.Posted
- Real Estate Investor
- Indianapolis, IN
- Posts 54
- Votes 9
Is $95k market value after repairs? Are you going to list with a realtor or sell yourself?
I ask because:
$95k sale price
-$5,700 realtor fees @ 6%
-$5,000 repairs
---------------
$84,300
This is a very basic analysis that doesn't take into account all costs associated with selling a property (closing costs, etc).
Post: Save your Gas, Sit on your @$$ (at your computer)

Terry B.Posted
- Real Estate Investor
- Indianapolis, IN
- Posts 54
- Votes 9
Pictometry is a fantastic tool to estimate a variety of exterior projects (roofs, gutters, siding, fences) if the images they have are at the correct angle, but I'm not sure how it would help with determining the condition of a property or it's components as the images are no where near clear enough to determine condition. In my area, Indianapolis, the majority of the images are 2-4 years old.
I use it to all the time to measure for fences, gutters, roofs, siding, etc... as, if you know how to use it, it gives very accurate measurements.
Eagleview generates roof, gutter and (sometimes) wall reports and calculates everything (measurements) for you. Just type in the address and, if there are images, you can select the type(s) of report(s) you would like to purchase.
Pictometry is a manual process that lets you bring up an image(s) and measure what ever you would like. When I renewed my subscription last year, I paid $2500 for unlimited usesfe (they charge by the hour or you can purchase unlimited time).
If I'm missing something with Pictometry, please let me know, because I'm always open to learn something new!!
Post: HUD screw up

Terry B.Posted
- Real Estate Investor
- Indianapolis, IN
- Posts 54
- Votes 9
Steve Bollinger in my experience, there won't be any repercussion for one mistake. If it happened/happens on a frequent basis, then you'll have issues with them AND/OR the listing agent... And, as I'm sure you know, the listing brokers usually list A LOT of HUD homes... So don't get in they bad list!!
My agent has done this a few times where he bid on my behalf, offer was accepted by HUD, and we didn't send the deposit/Ernest $ and they just resold the property.
That being said, I'd make a courtesy call to the listing agent and the asset manager (PIMCO, OFORI, etc...) to let them know it wasn't malicious and was an honest mistake.
Just my 2 cents!!
Post: Blackstone drops home buying 70%...Uh Oh!

Terry B.Posted
- Real Estate Investor
- Indianapolis, IN
- Posts 54
- Votes 9
I hope the hedge funds have helped stabilize the market and that prices continue to rise... I just have my doubts and will continue to invest with that in mind.
Post: Blackstone drops home buying 70%...Uh Oh!

Terry B.Posted
- Real Estate Investor
- Indianapolis, IN
- Posts 54
- Votes 9
Mark Ferguson
In my market, Indianapolis, they weren't buying low... They were paying retail prices. This inflated house prices and caused the retail buyers to overpay because they were fighting the hedge funds for pretty much any and all inventory in the market... They created an artificial sellers market as there is/was no way they could continue buying at that pace.
I sold a number of properties (flips) to another hedge fund, AH4R, and they paid at least my asking, sometimes more (only one occasion where they offered less).
IMO, this artificially inflated prices for retail buyers.... And when they stop buying, will cause a correction in the market again.
Also, what happens to the market if/when they decide to dump their properties in mass quantities? I've seen a number of AH4R properties listed for resale.