All Forum Posts by: Daniel Smith

I’d definitely agree on curb appeal. Pull out all of that green and let’s see the house! Sherwin Williams Cityscape or similar gray would be perfect. I’d do a new front door, or appealing new color for sure. Ditch the trash cans and add a bench or flower pot - somewhere for the eyes to stop and be happy. Kitchen Baths Flooring Lighting can be a major factor if you choose one or two spaces to add an interest/wow factor Of course, items such as plumbing or electrical that need updated for safety purposes are a given. Best wishes on your endeavors!

Welcome. BP is awesome!

Awesome! Thanks for sharing your story.

Lima One loans are based on ARV. Although I'm not sure they will approve a loan for that little of an amount. They are a good company and they do their homework on properties before they approve the loan.

Wow, that's awesome! Congratulations.

I have also been wondering how to comp out small multi-family units. When we do flips, our lender sends the appraiser our detailed rehab budget. Then they appraise the house based on that, which gives the lender a good guess at ARV. I'm not sure if that is common or not. I also have not seen this done this on multi-family complexes.

The right agent can make all the difference sometimes. I had a flip that we had on the market 6+ months and went through 2 contracts. Finally fired the agent and hired another and we had a contract and closed in 5 weeks. Getting out of a contract can be tricky but often if the agent knows you don't want to work with them anymore they will sign a release. We also stage all of our flips in the common areas. Makes the house look so different and gives prospective buyers an idea of what the house would look like. Good luck.

Also, I often just Google terms I don't understand.

We also use Xero. Use the app to record and take a pic of the receipts then we don't have to keep physical paper. You can mark each transaction to keep track of what property the expense is for.

Making repairs often depends on the situation as many have stated. Some we have done and others we've refused. One thing to consider is that, if the deal falls through, the agents normally have to report to the MLS as to why. That may cause problems down the road.