All Forum Posts by: Alexander Felice

 I believe this is the best answer. 

You looking to flip or rent?

Looks like a slightly better flip to me. Cash flow is minimal, CoC is minimal as well.

With a flip it's going to be tight as well I imagine (My spreadsheets aren't set up for that). 

147k total cost for $1200 in rent leaves a small margin for renting. 

147k total cost and 185k arv leaves really small margin for flipping as well.

correct me if I'm missing something.

Welcome. I live in fayetteville, decent market here and ton of people around to learn from. 

Good luck! 

Welcome. I live in fayetteville, decent market here and ton of people around to learn from. 

Good luck! 

When negotiating:

HE WHO SPEAKS FIRST, LOSES

always let someone make their offer first if you can! 

Depends on your time line. Flipping is more money in a shorter time span but over the long term renting will always be more profitable. Also, it always depends on the deal. 

I used to really like the idea of flipping but I'm less excited about it these days. 

Not sure about this one:

how are you paying for the rehab? This makes a big difference with CoC

You also didn't include CapEx or maintenance in your assumptions.

I wouldn't boot a good tenant, or a paycheck, just to stick to my guns. The goal here is income so I really don't care how to gets to me. That's my personal preference though. 

If his bank sends you a check, on the correct date. You should be able to deposit it from your phone the same day. Pretty easy all things considered. Just make sure he knows you're to RECEIVE your check on the due date and that it's not ok for the bank to SEND your check on the due date. 

The real key is that you have to shop and change all the time. Insurance industry (like many others) doesn't reward loyalty, they reward new market share. 

Basically, if you stick with the same company for too long, you pay more. Switch every year or two for the best rates. 

I just dumped USAA for progressive because USAA was DOUBLE the cost. 

yeah I have to agree, walk the first few until you get really comfortable. Then you can spam offers and walk them during diligence.