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All Forum Posts by: Tim G.

Tim G. has started 61 posts and replied 1808 times.

Post: Negotiating REO Offers

Tim G.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,895
  • Votes 1,918

I believe for many investors it is the one contingency they keep.

The rest are just going to make the offer weaker, even if the agent thinks they are doing you a favor.

Post: First yellow letters are in the mail!

Tim G.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,895
  • Votes 1,918

Keep us posted how it goes.

I've sent out about 80 in the past two weeks. Two calls back, one might be worth something.

Post: Hi from Omaha area

Tim G.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,895
  • Votes 1,918

Welcome!!!

Post: Analyse - Coastal barrio duplex

Tim G.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,895
  • Votes 1,918
Originally posted by Joel Owens:
It's overpriced junk.

Remember banks can be unrealistic sellers at first.They get misleading appraisals and bpo's.

Wait until a bunch of mark downs occur and look at other properties in the mean time.

Glad I'm not crazy. I told the agent we should take a closer look towards year end. I guess since I'm putting all my homework on SFR's I was a little thrown on the duplex.

My MAO was 125

Post: Would you prefer investing in REO's or Short Sales

Tim G.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,895
  • Votes 1,918
Originally posted by Jeffery Bigsby:
Thanks Andy. In your experience, is it easier to flip REO's via assignment or double close? Do the banks allow this type of transactions?

Sometimes the wording and how you explain what your intentions are can mean all the difference.

Who is to say you don't place your purchases into different holding companies once you have determined your plans with it.

Post: Analyse - Coastal barrio duplex

Tim G.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,895
  • Votes 1,918

This is an odd one...
(2) 2/1's in need of a solid rental ready rehab est 20-25k

bam smack in a safer barrio but one of the less desirable streets due to freeway noise etc. So don't bank on appreciation soon.

I see ARV at 200k best, would rent for 2k total a month. What would you offer? List is in the 190 range.

I guess what is throwing me here is, properties typically don't cash flow (duh its in the barrio Tim) but I'm more familiar with SFR's. Comps are near non existent. Its been on the market some time (60+). Its an REO.

Sorry if I havent provided enough info. There is another duplex similar in size that has been sitting over 100 days @250.

Post: Just got an iPhone: App recommendations?

Tim G.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,895
  • Votes 1,918

Dropbox without a doubt the best.
Redfin
Pandora

The rest are really for personal preference.

Post: BiggerPockets is 7 Years Old! What has BP Meant to You?

Tim G.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,895
  • Votes 1,918

Congratulations on a fantastic website and community. Its gotta be pretty cool to have something that does such good for so many people. Its just the cycle of positive energy and valuable information that keeps building.

For me this place was the start of it all. Where I found my first meetings to attend, first discussions, first contacts in the business. Without this place I would of had no idea where to start, I really look forward to making more contacts here and being of assistance to others as I learn.

Post: Where to find Cash Buyers in your area?

Tim G.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,895
  • Votes 1,918

Sheka,

The other thing I should have mentioned. If the deal is good enough, buyers will appear. Its just getting the message out to them. Still, a solid list never hurts anyone. I'm building one myself so this is all great info.

Post: Where to find Cash Buyers in your area?

Tim G.Posted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,895
  • Votes 1,918

Like Will said, courthouse steps. Local REI meetings, network network network!