All Forum Posts by: Leigh C

Odds are this house on monticello will sell in the high 70s....not sure how you compare to 1531 Bavon Dr though that sold for 66k and rented for 925/month it appears.    

Should be a nice little paycheck though as a flip.    

@Abbas Lokh

Time for you to use your influence with the board to find a new lawyer for the HOA. More than likely if you can get in contact with the president you can use your 5 votes to have him on your side.

I'm rather surprised the HOA even negotiates. Most of the HOAs I've dealt with are wise to the legal standing that you have absolutely no foreclosure protection as a 3rd party buying at the courthouse steps.

@Andrey Y.

Note investing is a steady turtle, flippers are fast rabbits. The major problem with flippers is in theory a little more risk and there will be dead time between the flips. As hard as I work my capital there are always gaps of time between closings which lowers the overall APR. Also i'd expect the flipper is a short term situation as they typically outgrow lenders if they are really good....the 15 year note hums along.

Looking for the same in florida...tempted to get my license and another hat to wear as I'm so frustrated with the lack of options available.  

Call the bank, ask for the REO department....ask for the asset manager for that particular property using the address.

Ask that person whats the deal as there appears to be an issue with the listing agent trying to pocket list the home.  

HOAs are historically a problem down here...

315k ARV is a bit of a stretch. 250k-270k makes a lot more sense which puts this flip into the red.

Chasing unicorns with these types of deals usually.

If you have an address list with an actual price I'd be interested.    I've closed deals like this before but on forums like this they rarely really exist.  

@Account Closed

No it isn't.   I was just teasing him when he said i couldn't find anything at all.   His flip is nice, makes complete sense to my eyes and odds are in a month or less he will find himself under contract.    

I've had several events in my life I thought i wanted help.    I thought i needed it.

I mentioned starting on EBay....I pushed my mom to invest in my inventory hard...she denied me the opportunity to really buy into the Ebay model back then.   She didn't understand it.   (flipping inventory or houses...same in my head really).  I could of doubled my 60k or so a year income if she would of helped me.     I stayed selling online for years, never really making much more than a very good income since I really wasn't buying the inventory correctly.   Eventually the ebay business model for me didn't make sense so i switched to another path (real estate).    Had she helped me I would of dropped from the 120k range to maybe 60-70k, something i would of kept doing "forever?"     Years later, similar stories continued to repeat the previous but in larger scales.      I thought i needed help to push myself to the next level.      I've had 3-4 strong chances to make REALLY strong money.     If anyone had helped me on these I never would be where i am today.  

I had the advantage of the real estate crash to really get where i am.    If you start stacking up properties now it may not be in your best interest, even more so if you tap all possible resources and keep doubling down.    If the house of cards should start to fall, you have nothing to catch you.        

You have a lot to learn and you are WAY too eager to go full speed.     I made these mistakes....I dropped out my senior year in college because the last year didn't make sense based on the choices I made in my own business.     Just because my income is high doesn't mean i made the right choices.       Your life isn't on hold, just your ambition needs to learn to relax a bit.      I've doubled down on myself way too many times and I got lucky each and every time.    It's obviously not 100% luck, but some of my wagers could of zeroed me out with nothing for me to fall back on.     I was too driven on success to appreciate the risk of what i was doing.

I realize this is all falling on deaf ears...I had someone tell this to me when i was your age and I thought they were talking crazy too.