All Forum Posts by: Chaz Reid

Goldsboro area here

@J Scott , thats exactly what I'm trying to do here. Thru all the reading I've done, I had a general idea. You can read about how to ride a bike but it doesn't compare to the real thing. I know now exactly what to do and look for and people I need to have in place. Kind of embarrassed by what happened with this post but at least it was a great learning experience. My next ad in the marketplace will be a home run deal and thats my honest word...

Alright, well apparently we messed up on this on but thats all apart of the learning experience. I now know what investors want in a package per house we get under contract.

1. Tons of pictures.

2. Comps, the highs and the lows.

3. Tax information.

4. Contractor bids in some type of professional format with a break down on the work and cost.

5. Market rents.

If I include all of this in a informational packet per house, no questions should be asked... Am I correct about that?

I'm truly thankful for everyone who voiced their opinions on this. I will be briefing my business partner here shortly.

Well I've had 3 contractors to make bids on the property. So I should start getting them to take pictures of everything they think needs repair? Then have a dropbox or something with the pictures online? Sounds better?

So does the fact that I personally have never been to the property bother you or make you feel uneasy about the deal? Like I said this is all a learning experience for me and you're the only person replying so I figured I would use your expertise on this on Mr. @Bryan L.

Now I might be a little guy, but the max estimated rehab cost, plus our listed price totals $31k. With a ARV of $50 leaves $19k. Thats a hell of a paycheck in my eyes. Thats counting the highest estimated rehab cost and the lowest estimated ARV. The range is 50 to 65 though. Coach me here @Bryan L. ! I might be looking for the wrong thing all together. Plus all of this has been done 100% over the internet. I have never been to Tennessee, not even drove through.

11 to 14k

A buy and hold person wouldn't quite look at things the same way as a rehabber though, correct?

So what you're saying @Wayne Brooks is if I have a property and the ARV is $50k, a good deal will be if they can purchase the property from me, fix it, and stay under $35k? Thats 70% of the ARV... Am I correct?