All Forum Posts by: Account Closed

ARV: $229k

Rehab: $25k

Asking: $150k

3.5 Acres with a single family 1983 built 3 bed 2 bath with an addition and a separate 6 car garage. 

Seeking cash, quick closing only.  Please reply for more information, photos, address, ect. 

It sounds like you have the courage and the drive.  That's is really all that you need.  If you can find the right deals, that's a good base to start from.  Trust me, if you can find profitable flips, the partners will contact you.  Dive in, but be careful.  Take you time and do your homework on the properties.  If you ever need any information on a property or have one that you would be willing to wholesale, feel free to message me anytime or call me at 909-913-0096.

The more turnkey that a property is, the less of a discount you're going to get on it.  So going with a turnkey home is going to net you less in the long run.  Turnkey homes are typically sold to end-users unless they are in bad neighborhoods that you typically don't want to invest in anyways.

Investing in a bad area costs much more in the long run, even when you section 8 rent it.  Damage, evictions, unpaid rent, squatters are items that make newer land lords run for the hills.  You want an area where working families desire to live, even if it costs you more. 

All areas appreciate and depreciate, but only use the comparables as a basis for your purchase(so you know you're not overpaying). But in the long run, the ROI and IRR should be your main consideration for the investment.

Your exit strategy should be adjusted based on the market cycle of the type of property you buy. You want enough IRR to know that if the market is at a low in 5 years, you can afford to hold on to it based off the rents. You always want a back up plan!

Happy Investing!!!

It depends on the individual micro-market and how much exactly you can get the property for. You're going to have a hard time if all you offer is 50% of ARV. But if you know that there are active buyers for the property when flipped, 70 to 75% of ARV can still net you thousands and get you more projects.

Trying to analyze the phases will only discourage you in the long run.  Take it home by home, opportunity by opportunity and scrutinize each one objectively.  If the numbers match, then they match, if they don't, they don't.   

Hello and Welcome to BP!!

Home Inspections is definitely a huge part of investing, and that trade will help you find those deal altering repairs before your purchases.  Income wise, they are less beneficial.  It's a good trade however, until you are up and running, actively buying and selling property.

What is the city that it is in? Depending on the location, value, and a couple other specific details, will tell you which policies to have and which provider to pick.  Some are cheaper, but also are horrible when it comes time to pay out.  If you can send more info, I can give you a recommendation.

Welcome to BP.  My favorite part of this is to wholesale, I am down in Mobile.  I have a few successes and would be glad to share.  Please feel free to message me with any questions.