All Forum Posts by: David Clinton III

Hi @Dustin Le, happy to connect. What are you looking for at this stage?

I'd go further back in time, and adjust for market changes. Also widen your geographic search. Don't settle for "only SFH". You've gotta be able to get actual comps, even if they're older or further out.

Hey @Jessica Taranto, welcome to BP! I'm here in town. If you ever wanna grab coffee, let me know :)

Find the movers in your area. May only be 1 or 2 who do this in a 300 mile radius. Be sure to get references and see what others experience has been. 

I would annalyze each house by itself, and then manually synthesize the outcomes in excel. 

In my area, septic size is determined by bedrooms served. Units wouldn’t be the best metric to look for. 
ask the city / county who to talk to and what requirements are. 

Hi @Marshall Bledsoe. The problem with house moves and financing is that once the house is off the foundation, it is no longer "real estate". It is technically a pile of assembled building materials. You need to find a private lender in the area that is comfortable with the risk. Also, it usually is not insured during the move, so a lot can go wrong, and a lot of money can be at risk.

I've done one move-and-flip. That "free" house cost me so much, I made a mere $10k in an up-market with dozens of sleepless nights and impatient lenders. It can be an amazing niche, but I highly recommend finding a mentor who can walk you through it. That's the only way I didn't lose my shirt on this deal!

I would tell the resident that the new resident needs to apply, get approved, and have a contract with you, and that you will decide the rent amount. If that doesn't work for him, sub-leasing tenant needs to leave, or everybody will be evicted.

I started here in Coeur d’Alene at the bottom of the market. It’s a great place to live, but deals have always been hard to find. It’s only gotten worse over the years. I wouldn’t recommend somebody starting out here in this phase of the market cycle. 

I have only ever been able to get a PLOC for $10k. Fine for a light rehab, but not for a down payment.