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All Forum Posts by: John Seitz

John Seitz has started 22 posts and replied 54 times.

Post: Getting deals as a fix and flipper

John Seitz
Posted
  • Investor
  • St. Louis, MO
  • Posts 56
  • Votes 29
Quote from @Ethan Neumann:
Quote from @Bob Stevens:
Quote from @Ethan Neumann:

I'm currently flipping about 1-2 properties per month. I'm looking to scale up things on my acquisition side. For those of you doing 3-5+ flips per month, where are you getting most of your deals? (not looking to go direct-to-seller). 

Most of my deal flow right now is coming from wholesalers. If that's where you're getting the majority of your deals, any tips and tricks for scaling this? 

 Are you flipping contracts to investors as a wholesaler?  I have about 500 yes 500 in my market but all to investors as rentals. 

 Not wholesaling anymore, have done about 75 wholesale deals but now focusing only on fix and flips. Getting most of my deals through wholesalers right now but a few on market as well. 

How do you find wholesalers to deal with? Networking events? Online? How do you go about vetting them?

Post: Looking to Connect w/ St. Louis Investors!

John Seitz
Posted
  • Investor
  • St. Louis, MO
  • Posts 56
  • Votes 29

Welcome to the Lou!

Post: When to replace roof

John Seitz
Posted
  • Investor
  • St. Louis, MO
  • Posts 56
  • Votes 29

For a fix and flip, if you had a house with a 12 year old roof, no issues, would you replace it to add more value to the house? It's a 950 sf house with a hip roof, so I think a new roof would be around 5K. Thanks.

Post: Rehab cost estimation tools

John Seitz
Posted
  • Investor
  • St. Louis, MO
  • Posts 56
  • Votes 29

Thanks, Jacob. The BP book has been ordered!

Post: How are people making money when using contractors?

John Seitz
Posted
  • Investor
  • St. Louis, MO
  • Posts 56
  • Votes 29
Quote from @Kyle Ebersole:

You have a great advantage that you can do the work yourself instead of paying a contractor to do the work. You won't be able to scale as quickly as you can only be in one place at once, but you will be able to make deals work that others can't because you are doing the work yourself. As for me, I normally GC and manage my own flips to keep costs down. If I know I have to use GC, I just run my rehab numbers a little higher. Best way to answer is I don't cut my margins, and they don't either, I just have to find the right deal that works for all parties. Hope this helps! 


Thanks, Kyle. I am a DIYer. I'm new to this so I may not have the eye for the deal just yet. IDK if it's just the way the market is, but I can't see how anyone is making a profit for fix and flips while having to pay the contractor price. 

Post: Looking for a Wholesaling Mentor

John Seitz
Posted
  • Investor
  • St. Louis, MO
  • Posts 56
  • Votes 29
Quote from @Jordyn Newman:

Hey Hugh, welcome to BP!

I completely agree with Bryce, but everyone has to start somewhere! In terms of St. Louis, I would attend numerous REI meetups a month. Best way to do this is by joining local Facebook groups, Meetup.com, and any other event-based platforms.

I'm here in St. Louis and I've had conversations with a lot of wholesalers at these events, you're bound to find like-minded people attending as many meetups as possible. Wishing you the best of luck!


 Do you have any local meetups you'd recommend?

Post: Flipping using Hard Money calculations

John Seitz
Posted
  • Investor
  • St. Louis, MO
  • Posts 56
  • Votes 29
Quote from @Daniel Llauger:
Quote from @Carlos Ptriawan:

If you want to do it right , don't do all these calculation but
1. Find out the trend of PSF comps and its low and high range
2. Really really analyze the trend
3. When you purchase this house, how much is the PSF and the discount factor compare to #1.

You need to come with scenario where your rehab is inaccurate and run again the number.

Can you please explain further with an example if you don't mind?

Your comps will show you the price per square ft. Compare that to your property's ARV price per sq foot to get a more accurate comparison. You could take the average of all your comps per sq ft price and use that as the factor.

Post: Cabinetry Recommendations for Fix and Flip

John Seitz
Posted
  • Investor
  • St. Louis, MO
  • Posts 56
  • Votes 29

I'm looking for recommendations on brands of cabinetry that are decent quality but won't break the bank. What have you guys had good luck with? They could be RTA, Custom, Ready-to-install, or semi-custom. I'm looking for cabinets that are reasonably priced but that I can feel good about installing in someone's future home. Thanks.

Post: Flipping using Hard Money calculations

John Seitz
Posted
  • Investor
  • St. Louis, MO
  • Posts 56
  • Votes 29

Correct.

Post: New BiggerPockets Member

John Seitz
Posted
  • Investor
  • St. Louis, MO
  • Posts 56
  • Votes 29

Tony, welcome aboard. This is a great place to be. I am also just getting started in the STL region. I look forward to following your journey. Let me know if I can be of any assistance.