Investor · Canton-Akron, OH · Member since 2012 · 917 posts · 477 votes
10y
It's a dangerous place to play without a LOT of experience in that market, sometimes there is not much difference between 1,000,000 house and 700,000 house.
We have a lot of experience in the 150,000-400,000 range ...over 100 rehabs, but 500-million is a different animal in our area.
Helped an affiliate buy one recently, looked like 1,000,000 house, sold for more than that 10 years ago. House next door was listed at 1.1.5m, a few similar had sold in development for 750k-1.25m
Realtor assured us it wouldn't sell for less then 750,000, worst case. Bought it for 450,000 , rehabbed and sold it nine month later for 675,000 lost over 70k.
It is not impossible but not probable without a lot of experience in the game at that level.
Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
10y
Hello James.
THe "problem" is that if you ant to really succeed, you will have to do the WS job regardless. Finding good deals still is a must no matter what you are going to go into.
I want to get my licence but I am not sure about becoming an agent. If I am going back to work, I will probably go back to my Science and Eng field... bleh