All Forum Posts by: Jaron Walling

That's exactly what I'm thinking. The house has been on the market for two weeks. I spoke with the seller yesterday (we used to be friendly neighbors) and they don't have any offers. The property needs $20-25k in updates ballpark. 

Thanks for the responses @Brett Goldsmith

I would NOT QUIT your job until you start gaining traction with wholesaling business. Wholesaling is difficult and networking plays a huge part. Are you great at networking and communicating with strangers? I would maximize the 2hrs everyday and lock down some deals first before doing something stupid. Just my 2c. 

This question is mute. If you refinance then you're leveraging the property and now you have debt. If your goals are to build a portfolio that's best path to success. I agree with @Aaron Smith and would have done it months/years ago. 

An FHA loan is for people with poor credit. I wouldn't recommend using one. Real question how do you have a credit score of 808?

That's incredibly high so kudos to you.  

@Brett Goldsmith Are the sellers obligated to disclose that information? I don't want to offend anyone in this process. 

Thanks

Hello BP! Looking for advice to determine an offer on a property . It's 3/2 with a 2 car garage. It's 2300 sqft with a finished basement. Listed price is near $100k. The property needs major upgrading and remodeling. My strategy would be a live-in flip. The listing mentions the possibility of a short sale if the seller doesn't get any good offers. 

Should I wait this one out or make a realistic low offer and see what happens? 

The agent is pressuring me to get contractor estimates. I'm in no hurry to make a financial mistake on a flip gone wrong.

@Russell Brazil I didn't think about the additional demand for rentals when people can't afford to own. Thank you for response! 

@Russell Brazil  As you increase rents $100 per month, per year, at what point have you decreased rent? Post 07-08? 

That area has some potential if you're near the Indianapolis Zoo and close to downtown. All the major events are near downtown so that's a big factor. I wouldn't waste my time doing an Airbnb. I live in BRip and some friends rented one here. I'd guess the demand is 1/2 (no notable events) and it's a great area, crime free etc, . 

Pictures are worth a thousand words. I've seen listing with pictures taken from a potato cam. Nobody wants to rent that. 

@Matthew Paul  That's good to know but as a renter for the last 10 years, my land lords never raised rent. Probably stupid on there part.