All Forum Posts by: Jason Davis

I have learned that he is an investor. Cash deal.
I don't get it why they won't allow it.

If I do sell now it will be with double close.

I am torn to sell now for quick cash or do the flip myself and sell for more cash, hopefully.

We will see what they respond with. I said lowest I could go is $53. If they don't like it oh well no skin off my nose.

I have been told I can not assign this contract. I am buying it from the city housing authority, they said I can not do that.

i just dont want to pay closing cost twice. Plus I am using hard money. If I can avaiding having to use the
hard money I will have money on the points etc.

As I mentioned before I have under contract a 3 bed 1 bath home. I am paying $31k.

My plan was to fix and flip the property. Getting into flipping and doing the work is my ultimate goal. I want to build up to 4 to 5 per year.

This house is a good one to start with.

However after reading about wholesaling on BP. I posted an ad of CL listing the house for $55. Outlining teh repairs needed.

I had a guy go by amd look at the house. He has offered me $48.

I will negoatiate to get higher.

My questions pertain to(if i deside) to sell it to him. How to go back to my seller and work out the deal. My deal is done and they are working on closing.

How do I go back to my seller?
How do I handle closing so that I dont have to close on it first?
I would like my buyer to buy the house from my seller and I get a check for the differance, how do I do this?

Should I do this? If I want to be a rehabber why do this? The only reason I see is it will load my pocket to help pay for flipping another house

Ideas? Thoughts?

anything

Thanks
JD

I think the buyer is an end user not an investor

Get her to give you cash.

What I did instead of asking my girlfriend, now wife to pay specific bills is

Add up what she would be paying if she was to get her own apartment. Rent utilities etc.
Add all that , it equals what she is saving by living with you. Devide that amount by two and have her give you cash.

Or he'll, when you break up pr get divorced she will Get the house anyway. Just give it to her now and walk away.

Cheers
JD

I have used primers from Benjamin Moore. If I recall they are oil based primers. If you doing prime it correctly the nicotine stains will bleed through, quickly. The guys at the counter will help you find the correct one. It's a lil more expensive than kilz but it will cut the nicotine.

Clean ducts and mechanicals too.

It might have been on here that I heard to also prime the subfloors to help cover odors. I plan on doing that with my first flip.

On the flip side (pardon the pun) I hate the saying " It is what it is".

When I hear this, even just over hear it, I reply with " no it's not" I always get a strange look and a finish with " it's never what it is, it's what you make of it "

JD

Lows usually has lilttle Staging area of matching sets. They are usually towards the rear of the appliance section. They have white, black and the ss looking sets for anywhere from $900 to $1,500 range. Free delivery and can do it quickly as well. You can even buy them while on sale and they will hold them for 30 days no charge.
Go to the same sales guy every time and get about 15 o/o off, non sales items.
My sales guy also has a landscaping business and I contracted him to do the lawn at my and my mothers house. Most those guys use Lowes for benefits and do other things. Build that relationship with them.

I get Whirlpool packages and went with black for our first flip. They look great with the counters and it's what I see in the current listings around my house.

Con grates!

I am starting my first as well.

Tell us about this house and the deal

Thanks

JD

Joel, from talking with neighbors there have not be any on that block, there several within 3 miles. One that is trashed and is listed at $117. It's hard to believe. Other foreclosures in area are akk in the $50 to $60k range.

I will keep you updated on rehab and numbers.

The only major expense is the bathroom. And i have great numbers on that.

Glenn, it's a long shot and I feel like I got a hell of a deal. Best of luck to you. Try and find out who owes it and find out how many houses they have to sell. I used that as leverage. They did counter, I offered $1k more and said last offer. They took it. I am very pleased. I kept looking at others.

I feel very luck and pleased with the numbers I have.

JD