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Gary (MO)

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About Gary (MO)

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    Wheelin' and Dealin'

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  1. That's a good idea Kimberly! I'll check out the Sunday paper in the morning...thanks!
  2. You're right Brian but I don't know anyone in the KC market yet. I need to join a re club and network and get some contacts. Thanks for the input - and thanks to every one! Hope your deal works out Mike! Gary
  3. Looks like it's not gonna fly...this guy said he really doesn't want to fix the foundation (or doesn't have the money) and apparently that must be done before the house can be occupied. It would probably be a good rehab for somebody....
  4. It's interesting that Mike is considering selling the handyman special at above arv...is this realistic? I'm supposed to call this guy back this evening after 4:00 and I'll offer the CA approach to him and keep you posted. Thanks MC! Gary PS I haven't forgotten....
  5. It's been my recent experience that the bandit signs are basically illegal everywhere. The most severe penalty seems to be the removal and destruction of the signs but some cities allow for fines if they really want to get mean. There has got to be a better way...?
  6. Hi everyone, My marketing brought in a fellow who is living in his new house and seems motivated to sell me his 30 yo house with "foundational issues". He's supposedly had two contractors in to look at it and they tell him that it would be a simple thing to jack up the houe and replace the supports for the "I" beam. One estimate was 5k and the other was 10k. Roof is 9 years old. He says the stool in the main bathroom (4/3 with finished basement and garage) needs a new wax ring (has been leaking). Numbers: Alleged appraisal last year in "as is" condition was 130k. Allegedly ARV is 150k. His loan payment is around 750 per month and he owes 75k. He says he'd like to get close to 130 but I'll bet he'll go quite a bit lower to get out fron under it. As I went to bed last night I was thinking I might pass on this - not being a rehabber - but then I got to thinking, I wonder how well this might be as a CA? Any thoughts you guys/gals have would sure be appreciated! Thanks! Gary
  7. "No hill for a stepper" Doug. I'd sure make a mark on the calendar to follow up with the seller in a month though....you never know.... Gary
  8. Good Job Doug!! I'm with Tony, I'd go with the mortg balance and forget the 2K to the seller if he can't offer something for the payment due in 3 weeks. How'd you find this guy? Gary PS It's been awhile since I've been on the board...WHEN did we get a spell checker!!!!!!!!!
  9. Hi Dean, Rental ranges can easily be obtained in your area by looking at the "For Rent" ads in the paper; notice how much and for how many bedrooms. You can also call "For Rent By Owner" from yard signs (if your area is like mine there are many to choose from) and inquire accordingly. It won't take you too long to arrive at a good "feel" for the rental prices for your area. You will also need to determine fair market value for the property. If you have a realtor friend, you can have them run "comps" (comparing homes in that neighborhood that have similar characteristics - like #beds, #baths, squ ft, etc... - to give you a fairly accurate value of the property. If you have no realtor connections, there are several on-line services that may be of help to you. Why? You will need to know how much the property is really worth to be able to buy(set your option price) and sell (if you're considering a sandwich lease) or to simply sell if you're working on a CA. The seller shouldn't "lose money" if he rents it; in fact, you should be able to show him how you can sell his home for less and also collect more per month as a lease than a rental would bring - along with all of the other benefits of leasing to a bona fide T/B (as opposed to a transient renter). You know, you might be money ahead to purchase Michael's Manual ($97) which goes into detail about all of this - and more - plus he sends you the appropriate contracts you need to make it happen in a "real life" situation! Hope this helps! Gary
  10. Hi Travelprn, I would recommend Michael's mentorship program. I know he is already working with a couple in Ohio (not sure where in Ohio though....) but the concept is the same anywhere in the country. If you need help getting going, it really doesn't matter where you live. If you're really serious about moving forward in your real estate career, check out the mentorship programs offered on this web site and then, if you like what you see, email him and get it going. That's simply my personal opinion and I hope it helps you... Gary
  11. Yew gaught thatt wright IMSEE! "Hot and clear" THAT's a HOOT Tony!!!
  12. I'm not sure but I think HIPAA (Federal privacy guidelines) comes into play here when releasing personal/private information about someone without their written release/permission. You could be subjecting yourself personally or your corporation to federal fines and worse. Gary
  13. Maybe it's just me but I really liked the colorful Halloween skin. I know, I know...change is good but seriously...when do we get the Thanksgiving skin? Or not...? Maybe it's just me....
  14. I'll bet you are right Kimberly...mine says the same thing. That's probably why Dave and I didn't get an update. I'm thinking mine came with a spell checker though.... Gary
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