All Forum Posts by: Vonetta Booker

Yes, @Phil Z. --the second pic is one of a moldy basement.  Definitely going to need some mold remediation work. 

 Great way to explain the wholesale process to sellers, @Russell Ponce !

Also, here are a couple of pics (sorry if they're rotated the wrong way, couldn't figure out how to undo that):

Yep, that's DEFINITELY mold--looks like there was flooding, based on the distinctive mold / water line. 

I see you posted a few months ago so I don't know what your outcome was--but just for the record, w/ properties like these make sure you get an inspection contingency, and have a mold remediation specialist take a look at it.  Mold removal can get really expensive, so you want to make sure during the inspection period that costs aren't going to spiral out of control.  If estimates turn out to be way more than you originally thought, you can then use the mold inspection to back out. 

What happened w/ the property, @Patrick Porras ? Did you decide to put it under contact, or pass?

Just took a look at an REO that's on the market. There's ugly wood paneling throughout the house, and in several spots large areas of the walls are warping. (This is separate from a couple of spots in the corners of the 1st & 2nd floors where there have obviously been some bad leaks).

For those that have seen this before, what is warped wood paneling a sign of? That there's been moisture in the walls all throughout the house?   (Still in the process of fine-tuning my rehab assessment skills, lol.)

So true, @James Wise .  I know a couple of unprofessional, crappy realtors--who just happen to be full-time.  The main thing is whether you're doing right by the clients you work with. 

 A registered agent can either be yourself or whomever else you designate to receive important legal and tax documents on behalf of your business (i.e. annual reports, tax docs or statements sent by the state, litigation notices, etc).

The thing to keep in mind is that whoever the registered agent is, they must have a physical address & contact info on file (no P.O. boxes)--and it's public record.  If you work in an office, that's cool--but if you work from home & that's your phys. address, then the question's whether you want that public.  If not, getting some other designated or commercial RA w/ alternate contact info is probably your best bet.

Thanks for clarifying,  Chris!

If you're a licensed agent, are you legally allowed to discuss owner financing terms w/ a potential seller?  I just read this document from another thread, and it's giving me pause re. seller financing deals.  Do you have to be a licensed mortgage broker as well, even if you're acting as a principal in the transaction? 

So many questions!!!

Yeah, the off-the-kitchen placement's a little weird, but there's already a small "bonus" room there--so I figured it can just be expanded into another bedroom as possibly the least expensive expansion option.  

Have you ever finished a basement into a bedroom?  And in your experience, how much does an expansion roughly cost?