All Forum Posts by: Jonathan Orr

@Ron H. Just a quick question about the meetup.  Who is the type of person that typically attends?  Is it really just flippers or do you get investors and contractors as well? 

Just curious. Thanks!

I have a lot that I am looking to develop into a tract of Single Family homes. I have ran very rough numbers and good profit in the deal. However I am a little uncomfortable with my construction costs since I have never done SFR. Just for simplicity I have about $175-200/sq ft for construction of the SFR units, this is based off of commercial I have done. If anyone has a way they estimate construction costs or a program they use if they are not a contractor or estimator? Located in Southern California FYI

apreciated

@Bryan Grantham You and I are in the same boat.  I am getting a little overwhelmed with everything on Bigger Pockets but I have found it as a great tool to connect.  

Let me know if you ever do anything out in CA.  

@Anthony P. the thing about an offer is that it has to work for YOU! With that being said it is a fine dance to have that number work for the seller as well.   However, if you can back up your offer with facts and points to tell the seller/agent then you have a reason to offer that specific price.

For your case you can offer $417k and if they come back and say 'we want more' then you simply say that you can't and at that point to have to be ready to walk away. Or maybe you offer $400k and then you say in negotiations that you can bump it up to $417 (to make them feel as if they won).  

Just remember, it may be a good deal but dont try to make something fit because you fell in love with the property.  You need to have your bottom line and don't cross it. If the property provides a return you are comfortable with then that is your decision, if it gets to a price where it isnt comfortable, then it is time to look on.

GOOD LUCK!

Hello! I am trying to track down a excel underwriting to is focused on the purchase of land and then the development of single family/town homes/condos.

I have several multi-family underwriting, however they focus on a develop and hold. I am looking for something more geared towards the development and upon Certificate of Occ. to sell out.

Anything is appreciated. Thank you!

@Dominic Battezzato Welcome to Bigger Pockets! What type of assets are you looking for? I am developer but have my license.  Let me know some more details, would love to talk RE with you.

@Account Closed did any money actually exchange hands?  If not, you should be ok, even if you dont have your sales license I don't think there will be a big problem with trying to get your license.

Think of it this way, if they try to go after a license you don't have then what do they have to go after?

With that being said, probably not the best thing to say you have it under contract.  I know a lot of people that say they have properties to wholesale and they try to come off as they have it under contract but they actually don't.  They want to make sure they have a end buyer lined up before they take the risk.  I know it is a battle of semantics but in this game the best thing to do is never say something that is not true.

You can always approach end buyers and get them to sign NDAs (Non disclosure agreements) and then tell them you have a line on getting this deal at a discount and you can wholesale it.  That way if the end buyer tries to go around you then you have legal action.

Just a thought.  Also, I see you are in CA.  Let me know if you ever want to work together!

@Abraham Bar Welcome! What type of units do you typically go after? Stabilized, distressed,...etc? Let me know if you have any interest in So. Cal.

@Derick Rowe welcome to the site! I can agree with everyone on here.  The best way to connect is just dive right in get conversations goin.

I see you mentioned several different types of deals.  Are they mostly local to you?  If you want to venture out of area, let me know. I do development and rehabs all over the country as a Project Manager and have some of my own bigger development deals.

Look forward to connecting!