All Forum Posts by: Vonetta Booker

I actually have gotten back my EMD based on a failed inspection (stuff the seller didn't mention in the disclosure like mold, termites, etc.)--but since this would have been my 1st rehab, I made sure to include an inspection contingency in my offer. No contingencies may be cool for those more experienced, but I didn't want to go there just yet--and glad I didn't! ;-)

Has anyone ever flipped a 2br into a 3br? I've got my eye on a decent-looking REO property, the numbers are okay--but it's a 2/1. The existing 2 bedrooms are very large & light-filled--and there is a smaller downstairs room off the kitchen that looks as though it can be expanded into a 3rd br.

Has anyone ever done this, or converted basement space into an additional bedroom (perhaps some egress windows, a half bath, etc.)? If so, what are the usual costs--and do you find that it's a good ROI?

It depends on where you put them, and how high.  I've seen a couple of my bandit signs hang for over a year--pretty banged up by then, but still there nonetheless.  I have this long pole & sign hammer that I use to nail 'em in as high as possible.  The flack you get for your signs pretty much depends on the town; I've seen that the lower-income towns don't care as much as the more upper-class ones, who can be pretty anal.  

There's always a debate about how effective they are, but in my experience I've found them to be VERY--especially if you put them up at main, busy intersections.  Lots of calls--however like one poster said, not as much as a year or two ago (most likely due to the market coming back).

Thanks, @Sam Erickson

@Tyrus Shivers I totally agree, Tyrus--well said. It's not what you do, but how you do it!

Thanks for everyone's input. @Danny Simard, I like the way you put that. :-)

Sorry for the above, I was trying it out myself & hit "reply" by mistake, lol. But at least it works!

@Stev

Sam, I like the idea of running a realty company to just do my own deals, w/ the occasional buy/sell to family or friends)--it's something I'm thinking of once I qualify for getting a broker's license.

Although the criteria may be different because we're in different states, what are your typical fees for maintaining a broker's license? Are they they similar to those of an RE salesperson?

I'm a part-time agent, as I primarily got my license to aid in my REI stuff (i.e. MLS access, the ability to see properties/make offers on my own, making/saving on commissions for my flips, etc.)--plus I also work a steady day gig. However (although I haven't experienced it directly), I've heard/seen some so-called full-time agents throw lots of shade towards part-timers, insinuating in articles, etc. that they're "not as serious," not as professional, etc.

Has anyone noticed this? And what are your thoughts? Personally, I think everyone should pursue RE however it works best for them--but that's just me, lol.