Heidi Golff

Hello again, Kim,

Myke appears to have done an exceptional amount of homework on this subject. He is "on point" for so many of the important subject lines, there is no reason to belive otherwise. He also suggests, as did I, that a "buy and hold" is not the worst idea and to make sure you can do this, should the property not sell in your timeline. I stand by "location, location, location" and being willing to put minimal $$ into it as a rental now and maximize the $$$ investment for a later sale.

It is tempting to go into business with someone like Myke who sounds competent. Should you choose to pursue a partnership, please be cautious, checking out background with a professional, and also be willing to listen to lessions they learned the hard way. Their previous loss could be a joint-venture gain. Just please, be careful. - Thu May 22 2008, 21:32

Hello Kim,

First of all, let me congratulate you if you didn't let all of these people totally disuade you, not that theyt don't have valid statements.

If you are able to take a bonefide licensed non-flacky contractor to view homes about to be sold on the courthouse steps and not fall into the trap of believing that you can tackle major issues by yourselves; are able to come up with a large sum of cash, (sounds like you can), then it may not be the worst time in the world. Are you willing to give up every minute of free time you have? It will take every night and all weekend and any vacation time you have to offset financial holding costs. It may feel like "cosmetics" until you realize the previous homeowner poured concrete down the toilets, etc. Be prepared to spend twice as much as you thought on repairs/cosmetics, especially if your contractor was not present before the purchase.

Be prepared to keep the property as a rental until the market goes up. Not a bad idea. Minimal cosmetics are all you need for fixing up a rental. Fix the rest when the market goes up and sell at that time.

None of this or previous advice frrom other brokers matter unless you are intelligent about location. You can buy a rat-trap in a good location and make out. You can buy the same in a bad location, or a minor cosmetic fixer in a bad location. Guess which one nets the most $$$?

I will not be as much of a wet blanket as the previous people responding to you as long as your eyes are totally opened. Money down, good credit, willingness to roll up your sleeves, and intelligence about the market and location could be the beginning of a lucrative business for you. Sometimes, I think the professionals sell people short. Surprise us! Something tells me you may be able to do this.

Ventura County is my turf! - Thu May 22 2008, 20:34

Hello Kris,

I AM a member of the exclusive Ojai Valley Multiple Listing Service. You will begin to notice the number of people who try to bluff their way around this designation.

The Ojai Valley is as diverse an area to identify with regard to price as you will ever find. There remains no normal “lot and block” track upon track normally found in a suburban California location. One may find a tear-down shack or mobile home located in Shangri-La. One may find a one-of-a-kind marvelous mansion built by a famous turn-of-the-century architect in the middle of the most undesirable part of the territory possible.

Average price per square foot must first be qualified by what type of property you seek. The more specific you can get, the more I can help you. It is also helpful if I know whether you are a buyer or seller. As strange as that may seem, it matters, as Ojai Valley property has diverse advertising strategy.

Anyone who tries to lead you to believe that they can give you an average price per square foot for Ojai property is to be considered suspect, at best. If these computations not longer work in the “burbs”, they certainly don’t work in the “specialized markets” now. - Thu May 22 2008, 21:11

Thank you, Robyn, for the correspondence we have between each other. (For those who are new to this thread, please read previous correspondence). This note is to let you know that I have not forgotten about you. Let's stay in touch! - Thu May 22 2008, 20:46

Okay, Robyn - I told you what I can do for you. Why haven't you called or emailed me? You wanted aggressive and responsive - I am definitely that, or I wouldn't be emailing you again!! I am booked until Monday and am available then to meet with you and see your property. - Thu Apr 24 2008, 17:18

Hello Robyn,

I am extremely aggressive when it comes to marketing as long as I have a realistic seller. If the seller understands market conditions, has an unbiased view of their property condition, is willing to take some advice on staging and/or cosmetics, and doesn't put unreasonable constraints on showings, I pull out all the stops. Website for the home, massive internet exposure,virtual tour, broker caravans, open houses during the week and on weekends, broadcast announcements to the 150+ Re/Max agents and print ads in Ventura & Santa Barbara. Having a good name in the real estate community helps, too.

In other words, I need the seller to be as aggressive as I am - a "let's go" attitude. This way, we are a team with the same goal. As far as communication goes, I am always available by cellular and email. Unless a seller says otherwise, I call four to five times per week, as I have feedback from buyer's agents to report as well as any changes in the market that can affect the sale of the home.

Heidi Golff
Re/Max Gold Coast Realtors
(805) 701-1798 - Wed Apr 23 2008, 18:29

It almost does not matter what the association name is or is not, unless you are a current property owner there who wishes to find out if there is enough $$$ in the pot to keep the project from sliding completely down the hill. Proceed with extreme caution, should you be thinking about making a purchase in this comlex. - Thu May 22 2008, 20:09

Yes, it can. Please don't expect to "low-ball" the offer AND ask for assistance. With an FHA loan, the seller can pay up to 3% of that down payment for you plus another 4% or so in closing costs. In some cases, where the foreclosed property is exceptional, you may want to offer a little over asking price and then ask for the down payment assistance and closing costs. You need an experienced local realtor to help you go through this process. The new loan programs are exciting. If you haven't yet seen a lender, I recommend you do that first, then go with your realtor and start shopping. - Sat Apr 26 2008, 18:42