All Forum Posts by: Diana B.

@Alex Applebee I read all your responses as I thought they were so useful. Another question for you -

Aside from reading the bp forums, what did you find most useful in learning about rehab? I don't know much in that area so I'm reading the book that J. Scott recommended and looking at various fixer properties for "practice". Thanks!

What an encouraging post. I have not done any flips by myself yet! Did you sell to an investor, or sell through the MLS?

Thanks! I posted in the marketplace. I hope I get a response!

I purchased a tax deed 3 years ago and did not do ANY due diligence in terms of researching the property. Turns out that the owner has passed away, and the estate has no interest in redeeming the lien. Anyway, I'm now coming to a decision point:

1. Pay off the outstanding $5000 in taxes so the property can go to auction

2. Let go of the $800-900 that I paid for this deed.

It looks like the properties in the zip are selling for approx. $25K. However, from what I've seen in Google Earth, the house looks in pretty bad shape. 

Any advice for me?

Currently we live in a city with very high property values and we've been forced to invest from out of state (only buy and hold so far). I want to get into flipping homes, but wouldn't do that from out of state.  At last we have the option of moving wherever we want. We're looking for a state/city/area that has great (and affordable) potential for real estate but also gives us a great quality of life. We come from a very rainy place so we're looking for sunshine and warm weather (even year-round warm weather!). We currently live a 10 minute drive from the ocean, and that's hard to give up.

For quality of life, our first choice was California, but we don't have the capital to invest there right away.

So, here's the question we're currently faced with: If you could move anywhere in the country, where would you move? 

Criteria in order of importance:

1. Investment potential for a newbie flipper and Low ARV - we're starting with only $100-200K cash

3.  Sunshine and warm weather

4. If possible, less than an hour from water (lake/ocean)

Thanks!

Currently we live in a city with very high property values and we've been forced to invest from out of state (only buy and hold so far). I want to get into flipping homes, but wouldn't do that from out of state.  At last we have the option of moving wherever we want. We're looking for a state/city/area that has great (and affordable) potential for real estate but also gives us a great quality of life. We come from a very rainy place so we're looking for sunshine and warm weather (even year-round warm weather!). We currently live a 10 minute drive from the ocean, and that's hard to give up.

For quality of life, our first choice was California, but we don't have the capital to invest there right away.

So, here's the question we're currently faced with: If you could move anywhere in the country, where would you move? 

Criteria in order of importance:

1. Investment potential for a newbie flipper

2. Low ARV - we're starting with only $100-200K cash

3.  Sunshine and warm weather

4. If possible, less than an hour from water (lake/ocean)

Thanks!

I have a property that I need to sell in Inkster but the house needs a lockbox. Please reply here if you are able to do the job or know someone who can help.

Thanks for your input. What I don't understand about the TFSA is comparing these two cases:

1. Choose to invest my money in a cashflowing property (let's say I can count on a 20% APR, and get taxed 50% on profit, so I end up with a net of 10% APR).

2. Choose to invest my money in a TFSA mutual fund account. Maybe I can expect a 5% return, but that's still less than 10%!

In this scenario, why would I choose to invest in any TFSAs at all?

Any Canadians here? I invest most of my money into my corporation for buying properties, so I have a lot of TFSA and RRSP contribution room. I do contribute a little to RRSPs, but I haven't seen the point in TFSAs. Any Canadians invest in these?

Thank you everyone. I will sell it and then I can have some peace of mind!