Property Q&A in Berkleigh>Question Details

Rob, Both Buyer and Seller in Tampa, FL

Why no details for investment property?

Asked by Rob, Tampa, FL Tue Jul 3, 2012

As an investor I always hope to open investment listings and see the information investors are looking for disclosed in the listing. Rent roll, operating expenses, last insurance quote, age of the roof, etc... Listings that do not disclose this sort of information will get me to call faster than a listing without because listing that information SETS YOUR LISTING APART!

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This question is about this property: http://www.trulia.com/property/3059900461-964-McCay-Ave-Mobi…

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Answers

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I agree with both of the undersigned. It does take time to dig up the information that investors want to see most.

As an investor I see SO many listings with "GREAT INVESTMENT!!!" in the description. When I see that, and similar statements, I always wonder how the agent has formed that conclusion. Further, after seeing it over and over, I have become numb to such propaganda. It is therefore my opinion a listing agent who REALLY wants my attention, and to increase their chances of a sale, would do the necessary diligence.

Don't get me wrong - I am not asking them to compute ROI, average local rents, demographics, etc... but to collect the basic information that gives me "snapshot" return estimates. If the property is and REO, I realize the information is probably not available. However, not every property is EVIDENTLY a foreclosure, so I am led into believing it isn't.
0 votes Thank Flag Link Tue Jul 3, 2012
As Julie mentioned, gathering that information can be very time consuming. Many of these listings are REO properties. With those listings, the seller will not have any of that information to provide to the agent, such as age of roof, cost of insurnace, etc.. Home owner's insurance quotes also are going to be determined by the insurance company chosen along with the owner's profile (i.e. credit score, claims history, etc).

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
0 votes Thank Flag Link Tue Jul 3, 2012
As a Realtor who works with a lot of investors I agree. It takes a lot of time to get this information. Sometimes there are documents attached to the listing that you would see here. Some MLSs limit what you can put in the remarks and the remarks are what is feeding to the national sites. The documents usually do not feed. Let me know if I can help!
0 votes Thank Flag Link Tue Jul 3, 2012
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