All Forum Posts by: Alexander Hish

For multifamily, are there ever concerns of states/counties enacting rent control acts? Have any of the properties you've dealt with seen unexpected profit loss from such acts?

You can use your profits from your current flipping business and start investing in multi-family or vacation homes if that aligns with your own goals. These properties can be managed almost completely by a property management company and require less time commitment than flips.

There is much more to learn about flipping that no amount of books or podcasts can ever teach you. Either work with a mentor or take the dive into a real project. Use a good agent and GC to give you estimates of ARV and repair costs so you don't find yourself upside-down on your flip. The most difficult parts of flipping, for my, are managing the workers and finding deals with noobie flippers overpaying.

I guess I will have to start being aggressive. I had my agent set up a drip to send me every new listing in my area direct to my email. I've been checking multiple times a day. 

Not sure why or if it is only in my area but I have seen a huge surge of noobie house flippers creating a lot of competition in the last couple months. I've been seeing we buy houses signs poorly written on cardboard and even gotten a letter in the mail about a local speaking event on flipping. The biggest problem I've had is these new investors are paying WAY too much for properties. 

How have you changed your strategies for finding deals? These inexperienced investors are paying almost asking and, probably, coming in at no or negative profits.
 

Also, were it to be filled in. Can heavy equipment make it there ? You might need to grade and sod/seed if the equipment damages the yard. 

No details here. What shape is it in? If it just needs a be cleaned and a new pump no big deal. If it wasn't winterized and all the pipes need redug or if it needs a new liner that can get very expensive. The location and price point dictate weather it is beneficial or not. Pools in AZ would be a lot more desired than in PA. How many comps have pools in that price-point? How much of the lot does the pool take up?

You write up your own terms. There is no set rules. I see no reason for joint venture on flip homes. You are already paying contractors or potentially a general contractor to manage the project. Its simply not worth it IMO to share profits on such a small deal

For multi unit rentals, this comes down to capital. More doors is always better, so the larger the property the better. In this case it can be beneficial to partner with someone to merge your own capital to buy a larger property. The rest should be bank and investor funded. 

Joint ownership can get messy and you have to involve a lawyer to insure the agreement is written correctly. 

Personally I would do laminate plank and tile the baths. I can get laminate for less than $1 a sq/ft with underlayment. It goes in quick and rips out quick. Its also easy to repair. 

I would not have the conscience to put something of such low quality behind someones wall. $200?!? that's crazy.