All Forum Posts by: Scott E.

Overall looks solid inside and out. Would have been easier to give more thorough feedback with a listing link. That video is kind of fast moving and disorienting.

Finishes are a bit bland but also "safe" which helps cast a wide net with your buyer pool. It looks better than my first fix & flip I'll tell you that.

The home inspection is going to focus more on the "functional" parts of the house and less on cosmetic.

You'll need to combine notes from the inspector with your own list of cosmetic items. Here's a list of possible things that need done (written roughly in the order of operation):

-Demo

-Framing

-Roof

-HVAC

-Rough Plumbing & Electrical

-Insluation

-Drywall

-Flooring

-Wall Tile (backsplashes, showers)

-Interior Trim & Interior Doors

-Cabinets

-Countertops

-Paint

-Trim Plumbing & Electrical

-Trim HVAC

-Final Trim Out (Mirrors, TP Holders, Towel Racks, Mailbox, House #s)

 I'd be happy to help. Shoot me a message.

Just underwrite every deal the exact same. Doesn't matter if you found it on Zillow, if a realtor sent it to you, if a wholesaler sent it to you, or if your uncle calls you up and says he wants to sell you his fixer upper. Underwrite every deal the exact same.

1. Can fix and flip work remotely if I build a strong, reliable team on the ground? No

2. Or is it essential to be there in person for every project - even in the long term? Yes

Even you planned on moving to the states for 6 months+ to get to know everything about the market you are looking to invest, learn about the construction process on the homes that you plan to target, and build a strong reliable team, I'd still consider this a bad plan.

Fix & flipping is challenging enough when you're local. I try to never buy a deal that is more than a 10 minute drive from my home/office. Can't imagine doing it from Switzerland. You will have quality issues and will almost certainly be taken advantage of in some way.

Shoot me a message. Happy to help.

Since my projects typically run a year (or more) I'm looking at the total interest paid.

If 1 guy is charging 12% with no points, but the other group is charging 10% with 2 points, I'm going to pay roughly the same amount of interest in the end. In this case my preference is to go with the 12% lender who charges no points. Even better if they offer an interest reserve.

Neither should be stressful in my opinion. If your work is bringing you an immense amount of stress then you're in the wrong line of work.

I have done both and I'd much rather be a house flipper than a wholesaler. The responsibilities are vastly different. And yes there is more risk flipping houses. But I personally just don't have the skillsets or patience required to be a wholesaler full time.

As others have said, take the total cost of the project and run the numbers at about 80% LTC.

How this will work out in real life is the lender funds 60% of the purchase and 100% of the construction.

Happy to help any way I can... you can post questions here or send me a private message if you prefer.