Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
I'm curious about a couple things in rehabbing and flipping.
1. What is the average purchase price of the flips or rehabs you're buying?
2. What is your average time from purchase to sale on homes?
3. Do funds available, limit the # of properties you purchase or are the properties getting harder to come by or both ?
4. What % of the properties are financed with borrowed funds?
5. If you had more funds available at EXORBITANT rates, would you purchase more properties?
6. On financed properties, are you paying interest, sharing a % of profits or both?
7. How many properties have you turned in last 18 months?
8. What has been your biggest concern or problem with your process?
I have some of my own thoughts and experiences, but wanted to look at a larger cross section
Thanks for any replies. Rich
Real Estate Investor · Craigmont, ID · Member since 2009 · 564 posts · 239 votes
16y
Rich, I didn't initially respond as I am currently partnering with someone for split of profits and I want a deal or 2 under my belt before branching out with other lenders
This is where I hope to be dealing. I have had some challenges finding deals despite a concerted effort. The rehabbers in my area seem to be paying far to much for acquisition and for that reason I am looking at wholesaling to rehabbers instead of rehabbing myself...We'll see how that goes :lol:
1. What is the average purchase price of the flips or rehabs you're buying? [b]125K
2. What is your average time from purchase to sale on homes? 4 months
3. Do funds available, limit the # of properties you purchase or are the properties getting harder to come by or both ? Yup!
4. What % of the properties are financed with borrowed funds? 100% at this point (I'm partnering with someone)
5. If you had more funds available at EXORBITANT rates, would you purchase more properties? Yes
6. On financed properties, are you paying interest, sharing a % of profits or both? % of profits
7. How many properties have you turned in last 18 months? 0 :(
8. What has been your biggest concern or problem with your process? Negotiating deals on properties that fit my parameters.
Sorry, The bold button didn't seem to work right :)
Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
16y
Thanks Sam- you seem to add to the info that properties are getting harder to find -at least at good prices. I have a kid living in Missoula- why, I don't know. Too cold. Your 125K is the highest price. That might be causing the problems. Rich
Real Estate Investor · Craigmont, ID · Member since 2009 · 564 posts · 239 votes
16y
I am looking to stay under 200K ARV as that is what is moving in our area. Missoula is a good 50K higher.
Could you clarify what you meant about 125K price? If I include repairs it would be 155K
Rental Property Investor · St. Louis, MO · Member since 2008 · 189 posts · 75 votes
16y
1. What is the average purchase price of the flips or rehabs you're buying? 75K
2. What is your average time from purchase to sale on homes? 105 days
3. Do funds available, limit the # of properties you purchase or are the properties getting harder to come by or both ? Getting harder to come by.
4. What % of the properties are financed with borrowed funds? 100%
5. If you had more funds available at EXORBITANT rates, would you purchase more properties? Not as a part time investor but definately as a full timer.
6. On financed properties, are you paying interest, sharing a % of profits or both? Paying interest.
7. How many properties have you turned in last 18 months? 4
8. What has been your biggest concern or problem with your process? Finding good enough deals in a small farm area - just need more time to expand farm area.
Real Estate Investor · St. Louis, MO · Member since 2008 · 443 posts · 91 votes
16y
1. 100k in my area. Prices are pretty cheap compared to most markets.
2. 26 days
3. Properties are easier to come by I don’t worry to much about funds because I wholesale everything.
4. Very few
5. In wholesaling 95% of the time I don’t close on a house it has to be a really good deal and some reason I cant flip it
6. Interest only
7. 73
8. No concerns or problems wholesaling is easy especially in this market people are giving their houses away. One quick thing to add is that i deal directly with homeowners I don't buy any reos. Its all about lots of marketing, wholesaling is a numbers game you gotta kiss a lot of frogs.