All Forum Posts by: Michael Brown

Ruth Bayang I'm a CPA. I would never invest unless the numbers worked. Just like Brandon Turner says, every property has a number. You analyze deals, and then make offers that work for you. If it gets accepted, that's awesome. If it gets rejected, you move on. You and Jon S's negativity is not wanted. Take it elsewhere.

Lol Jon S. thanks for the solid advice 👌🏼

MAX Offer

Max Offer

@Michael Miele @Steve Milford I looked at the place today. I took a bunch of videos, that I can't post, only photos. The place is an old DIVE!! I cannot see anyone paying the list price. It needs a NEW everything! With an ARV of 300K, I will be curious to know what it ends up selling for.

@William Walker  @Kuba F.  @Jessie Huffey  @Sean Senatore I would not do any of the work myself. I looked at the place today. I took a bunch of videos, that I can't post, only photos. The place is an old DIVE!! I cannot see anyone paying the list price. It needs a NEW everything! With an ARV of 300K, I will be curious to know what it ends up selling for.

@Jessie Huffey 

What I am asking is, is can i say, "yes! i want this property ill buy it! contingent upon an inspection" or are properties that are sold "as is," just that, "as is" and you buy it how it is or you don't, because someone else will?

@Kuba F. Thank you for your advice. It is definitely a HUGE rehab to take on as a first flip. I will go to the open house tomorrow and try to learn something/take pictures/videos. Also, how does one "go in with tighter numbers" without having looked at the inside of the property? Are you just saying tighter numbers on the stuff we can see in the pictures (i.e the outside)? 

@Michael Miele Thanks for your advice. I just looked at the mass land records. Trying to make sense of everything you said. If I am understanding you correctly, what you are saying is, is that the house is just sitting there "under water", and the realtor is listing the house at a super cheap price (less than what is owed - i.e short sale), and having an open house (teasing buyers) in hopes of lighting a fire under the bank to get the foreclosure process going? 

Also when you say "in the listing it says the buyer has to pay $5,000 towards negotiating fees and that money can't be financed" - is this on the MLS? or where do I see that?

Do you think this is a good flip opportunity? 

Here is deal with an updated 299K ARV Press This

@Linda S. 

Ok. Here is a more informed post. I am currently looking at a potential house in Marlborough, MA for my first flip opportunity! It is a house built back in 1890!!!. My question is the following:

Can you guys check out a FLIP Calculator Analysis I put together (below) and let me know your thoughts? I have not been in the house yet (the open house is tomorrow 1/7/17 and 1/8/17, but I literally went through every cost in J Scotts book on Rehab Costs and assumed the worst. I was hoping to get insight/expertise from people who have flipped houses. Here are the comps I used to get an ARV (Comp 1, Comp 2, Comp 3) that I felt were most similar (using J Scotts comp. technique). I know I didn't use sales within the last 6 months for Comp 1 and 2, but Comp 1 is literally on the same exact street (which is key because the street is just off a busy street with a bunch of businesses). It sold for $270,000 a couple years ago, and is currently worth 340K. Anyways see the "Analysis" below, and let me know what you guys think!

Here is the Zillow link to the house: House

and here is the analysis link: Analysis

Thank you guys!

Michael A. Brown, CPA