All Forum Posts by: Chris G.

Why wouldnt you be ok with paying a small bit of interest? Seems like a waste of time on both sides to try and sucker someone out of a few points of interest...

Any more info on treating the issue on homes that do have chinese drywall?
Still seeing some good deals that may/may not have it...

Hi Robert,
I would love it if you could send me that spreadsheet as well!

When buying houses to buy&hold as rentals, how important is vacancy rate to you guys and how do you figure out what the vacancy rate for an area is anyhow? What size area around the property do you care about in terms of vacancy rate?

Does it really matter all that much, or will lowering rental price get you some one in there no matter what (and you bought @ price considering the lowest you might have to go on rent)

Hit me up if you ever feel the need for a new hosting provider, I am VP of a dedicated server provider (& more) with 3 locations across the country :)

I *think* that you can apply your losses towards future earnings as tax deductions... so you might be OK if you consider the $80K loss as a way to reduce your tax obligations over the next 5-10 years.

You should research what you can do with that loss and/or speak with a CPA for the correct answer... but I think it is possible, I know someone still doing it with stock market losses incurred during the crash of 2000.

Once you own the property, they can't put a tax lien on it, if they ever go after the original owner, it won't have anything to do with you at that point.
Just make sure there isn't a lien on it now.

What do you guys suggest as the best locations or methods to find seller financed properties?

I would also say that this is not a good deal, you should be looking at around 10% minimum.

Hey Guys,
I am looking at doing my first rehab and flip.
I think I might have found something local to me that might make a viable rehab and flip.

Here are the stats:

Purchase Price: $250K (before any negotiation)
SQFT: 1435

Rehab Needed:
As described by agent, it needs full interior to be completed. It's already had framing done, but needs the drywall and all further interior rehab completed.

I estimate ARV to be around $360K, but I think for a quick sale it would need to be priced around $350K.

I estimate full interior rehab to be about $50K - what do you guys think?
The house next door is for sale at $355K with a recent full rehab.

Property in question: http://www.zillow.com/homedetails/22131-Victory-Blvd-Woodland-Hills-CA-91303/19927977_zpid/

House next door listed @ $355K:
http://www.zillow.com/homedetails/22125-Victory-Blvd-Woodland-Hills-CA-91303/19927978_zpid/#{scid=hdp-site-map-bubble-address}

Are there any details I left out to help you analyze the deal?

Let me know what you guys think.

Thanks!
:wink: