All Forum Posts by: Constance Grandelli

Hi Giuliano,

I suggest finding a real estate attorney who is familiar with the wholesaling process.  You may have to pay for the boiler plate forms up front, but it can save you a tremendous amount of hassle later.  :0)

Hi Maria,

In my experience 1% is achievable. I did manage to buy & rehab a property, then rent it for more than 1%.  I've begun to change my way of thinking:  how much do I have in it, or how much is the mortgage? What is the acceptable "profit margin" to me?  Other things to consider: Can the rents be increased?  What type of appreciation is it? Is it "hackable"?  Often there are more things to be considered than just the numbers.  Haven't seen any unicorns.  :0)

Kobe, I agree with you.  I would be a bit skeptical about going with an inexperienced broker.

Sorry the photos were blurry, haven't figured out how to fix it yet.  I bought the house at the end of August.  Sold it the beginning of March.  I ran into some difficulties (health issues) that slowed me down, but I try to keep flips around 2-4 months.  Otherwise the carrying costs eat up the profits.  

I just moved from C21 to Fathom - an excellent move I might add! She will have to have her current broker sign the Transfer Form and mail her license to the new broker. Then go to her local Realtor Association, transfer her MLS, and local dues, Supra Box, etc. Each state has it's own requirements. She should be able to get help from her local association. Please have her Google Fathom Realty. I pay only $450 to Fathom for each transaction up to 12 in a year, after that it's only $99!!! I am keeping sooooo much more of my money. Feel free to contact me about any of this. I'm happy to help! :0)

Hi,  I would suggest keep shopping for lenders - specifically your small hometown banks.  If you have a W2 income & decent credit, it shouldn't be a problem.  If you can show rent history, that's helpful.  

Good luck!  :0)

I much prefer real estate investing over stocks. I'm a control freak, so REI suits me perfectly. I've never had a stock that yielded $10k or $20k in two months without using my own money. My IRA never made thousands of dollars, with private lending it does.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $89,500
Cash invested: $55,000
Sale price: $179,900

This was the perfect house to flip, 3/2, 1540sf, ranch with detached two car garage. Insurance paid for a new roof after a storm took off about a third of the shingles. The biggest issue I had, as always, was getting good contractors.

What made you interested in investing in this type of deal?

It was a house with good bones.

How did you find this deal and how did you negotiate it?

Originally I had listed it, but the buyer refused to show it. So, I made him an offer.

How did you finance this deal?

Private lender

How did you add value to the deal?

Total gut & rehab

What was the outcome?

A beautiful home that sold the day it was listed.

Lessons learned? Challenges?

Better off to get a good contractor that may cost more up front, than go through a bunch of cheap contractors. Also, started using subs for specific jobs. Lowes installed the flooring at 99 cents per sf. Hired a plumber to do the plumbing, etc.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Sure! Me! :0)

I'll be there!  Thanks so much for the FB page!  :0)

Can't wait!!!  We've been asking for this for a while now!  Thank you Auction.com!