All Forum Posts by: Isaac Fridmann

Hey BP Fam,

When looking at a potential fix and flip deal, If the comps in the area aren't renovated/updated, does it automatically mean it's not worth getting into? I've heard mixed views on whether or not you should only buy a fixer upper if the comps in the area are also flips.

Would appreciate any input you can provide.

Thanks!

Hey BP Fam, 

when looking at a fix and flip deal, do you bring out your contractors, inspectors etc. before going into contract and submit an offer based on the cost of rehab with no Inspection period or, do you submit an offer with an inspection period at which point you get all your crew down there?

Thanks in advance!

@Luke Carl Thanks for your reply. I've looked into the enemy method but haven't seen how I can use it to help with occupancy rate. Do you have a specific link to share?

@Ryan Foster Just to make sure I understand correctly, should I use AIRDNA to get a baseline or you don't recommend it?

Hi BP Fam,

I know this question has been asked a lot but I haven't been able to get a clear direction. I'm looking to invest in a STR. I'm trying to analyze the deal but this is where I've hit a road block. I see a lot of members mentioning two methods:

1) AIRDNA. I was about to sign up but saw mixed reviews on the forums. Would really like to know if it's even good as a guideline.  

2) Checking manually on Airbnb for similar properties nightly rate and occupancy rate.  From what I've seen, it's only possible to get data for 2-3 months into the future. How do you determine the properties performance for the rest of the year? 

If there are any other methods/videos you recommend, I'd really appreciate all the input I can get.

Thanks in advance!

@Bruce Woodruff Thank you for the clarification, I'm going to talk to my plumber to get a better understanding.

Hey Everyone!

I'm analyzing my first fix and flip deal. In the comps, I see a lot of brokers wrote in the description "new plumbing".  If the subject property has cast iron pipes, does that mean I need to replace all the pipes with PVC?

I'd appreciate any feedback I can get.

Thanks in advance!

@Matt Stewart Yes, 100% true. I already am speaking to some lenders to get an idea of what it would cost. Thank you!

Hi Everyone,

A common issue I'm running into when trying to determine the ARV is, I'm finding comps of similar size and in close proximity to the subject property, but none have been recently renovated. How do you take that into account? I'm hearing some say to calculate the average of the price per square foot sold. Do you feel that provides an accurate ARV?

Would love to get your feedback on this.

Thanks in advance!

Hi David,

Thank you for your detailed reply!