All Forum Posts by: Jeff Wells

That is what we were thinking too Mehran. Any ideas or suggestions where to find that? Just trying to be prepared for the worst case scenario. Thank you again.

Hello all. The house we just finished has a total value of 45k. We have 22 into it. We JUST put it on the market and we think it will sell. However, in planning for the unexpected no sale, we can always rent it for 700-750 per month. For those with experience in transferring exit strategies from a flip to a rental, how, and where do you think the best place to go is to cash out and rent it. We were thinking, if it comes to this, we'd like to get out 30-35, rent it out, use the remaining cash to fund other projects. Could those of you who do this tell me the ins and outs of the best way to make this happen? Thank you in advance.

Are either of you lending on projects in Oklahoma? We have 2 that we just got under contract that we need to have funded. One, 85pp 45k rehab-135 total 190ARV

the second 20k pp 15k rehab, 65 arv. If you guys are interested, we'd be happy to speak with you.

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Thank you

Hey guys. So we have a few houses we are interested in and the subject of title searches came up. We do not want to get into a situation where we buy a house for 2000 bucks and find out it has 20k in liens. Is there any service you guys know of or what the best way to do a title search? Will title companies give you a discount for multiple searches? Seems about 100 bucks is the going rate. Obviously that gets expensive for every property inquiry. I could have probably run 5 today. Yes I am still new, so please be gentle if I am being really dumb here. Thanks in advance.

I know we need the experience as the best way to learn. I just want it to be a safe enough project that I don't get burned. If I made enough to pay my investors back in a timely fashion, learned the process and gained real knowledge and experience and was left with enough money buy a beer at the end of the day, maybe it's worth it.

Well I'm going to get some estimates. It's 1500 miles away so it is a tough thing to do. I have some people there to assist. But I just figured initially, "how the hell can it get cheaper than 4k, especially when I don't pay up front for that" ya know? I don't think this will LOSE money, but it's not a home run for sure. There are other homes being rehabbed in the neighborhood. I'm thinking that should raise values. But I thank you for your input guys, it doesn't go ignored that's for sure and I know you see what I see in the pics. That's all I have lol. I think I need sound estimates from contractors who have seen it in person and go from there. So tell me, if they come back with say 15-20k, would you go forward?

It already has Windows, most electrical, plumbing, framing, and not sure about the roof yet. So that's 7-10k off your 35k estimate. And no way it's 5k to drywall 980sq ft house.

Location: Oklahoma

House: sfr 990sqft 2/1

ARV: 35-45k

Purchase price: 4k owner carry, will pay him after we flip

The situation: I have this house under contract with a 15 day option to back out.
This house had a moderate fire. The current owner bought and gutted the inside of the place down to the studs. They installed a new electrical panel and rewired I think 2 of the rooms already. Also installed new windows. The outside could use some sprucing up, but nothing bad. No framing or rafters are burned, but it's pretty bare bones. Walls intact. I need to know based on your experiences, what the good rehab cost should be on this. We have an idea, but I don't wanna say what we think until you guys who have done it tell us what YOU think. Thank you in advance!
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