All Forum Posts by: Jack Gibbons

@Mark Ashton I will keep an eye on the MLS but almost every flippable house listed is going to go for 20% over asking, must be cash and little to no conditions. anything that is livable yet dated is going to get close to today's market value minus cost of updates. Flipping on MLS listed houses has died for us..

Any where days on market is very low. That's where I look.

I've done this a few times, with the Co Springs market appreciation, I would think around 70k net profit is doable, but only if you can get the right price from your contractors. Have you done this before? Just be sure not to over do it.  some parts of town it can easily be 100k.

Pull your own comps for the level of finish you are going for (sold in the last 6-12 months). with the current inventory crisis, you may be able to sell it for a similar profit margin in it's current state. 

I believe they are only accessible at the clerk and recorder's office.

Sounds good to me! i still work full time. is anyone here planning on going to the REIA on the 20th at third space coffee?

It's amazing for rentals if you can buy right. the MLS is hot here, it can still be done, but be prepared to compete.

I like to fix and flip because the market is so volatile. lately i've been buying houses and closing, then cleaning and listing and getting cash offers over asking. the market will support almost anything you want to do at the moment. 

I'm active in CO Springs.

I am moving from a fix-n-flip business model to more of a whole-sale model. 

A local meetup sounds awesome, something very informal. I have met very few investors locally and would love to meet more.

I too am new, i've been in it for about 6 months and getting ready to move on my 3rd deal. Don't be discouraged by the values on the MLS, there are plenty of deals out here if you're willing to work for them.

Does anyone have a referral for a local CPA? I'm moving on to my second live-in-flip, and would like to minimize taxes and I need help navigating through capital gains/self employment tax laws. Thanks in advance!

When is the next meet?

It does follow the springs, It will always be lower than the springs. as long as you can cash flow and the numbers work for you, do it!